product line refresh/relaunch
Refreshing and relaunching existing products can create customer excitement and breathe new life into a mature product range.
Following a typical product lifecycle, new from the ground up products create market excitement. Successful new products continue to grow in sales until they reach maturity. After maturity, revenue and margins tend to decline.
ProductQuest Strategies works with clients as a strategic partner to identify products/product lines that may benefit from a refresh. Since refreshed products can be launched relatively quickly and at much lower expense than new product platforms, healthy sales and margins can be maintained for a longer period of time in the product lifecycle.
Analyze product lines status in the product life cycle:
ProductQuest Strategies works with clients to determine the lifecycle status of all of a company's product lines. This is a key measure of the health of a product line.
Identify product lines that will benefit from a refresh:
ProductQuest will identify product lines that should be refreshed and then work with clients to structure a business case and resource plan around beginning a project.
Commercially relaunching a product line:
When the refresh development project nears completion, ProductQuest Strategies works with clients to draft a commercial launch plan creating market excitement driving increased revenue and margin.
The process begins with a no charge Introductory Get Acquainted Virtual Meeting.