Product Portfolio Review Optimize your product mix
Boost revenue by identifying the ideal product mix to maximize performance with a comprehensive review
What is the ideal product mix for your target market? Would a new product strengthen your portfolio or cannibalize another offering? Does your current product portfolio meet your customers’ changing needs? A comprehensive review of your product portfolio can answer these questions and ensure your product portfolio maximizes revenue.
Hanover’s Product Portfolio solution evaluates your current offerings and identifies opportunities within your current product portfolio to branch out while avoiding cannibalization. We’ll analyze your product portfolio for total addressable market, ideal product configuration, and price elasticity, helping you refine and expand your market reach without damaging your existing business.
Identify strengths, weaknesses, and opportunities with a comprehensive product portfolio review
Align
Evaluate your current product portfolio to identify opportunities and weaknesses.
Forecast
Identify the total addressable market and how to grow market reach.
Optimize
Generate revenue by balancing price with product value and unique market needs.
How it works: Product Portfolio Review
Hanover’s Product Portfolio Review evaluates your current products and potential product opportunities through the following tests:
Ideal Product Mix
Hanover uses MaxDiff and TURF survey methods to identify the ideal mix of products to maximize revenue and market reach without cannibalizing your existing portfolio . We also identify unique products or attributes that can capture new customers’ attention.
Price Optimization
Using conjoint survey methodology, Hanover predicts future demand for products, along with ideal product mix and buyers’ price tolerance. Using this data, we identify product development opportunities and how to capture the attention of prospective customers, without alienating existing ones.
Sylvan Validates Market Presence and Diversifies Product Portfolio Using Hanover Surveys
“Sometimes we’re so focused on our internal needs that we lose sight of best practices and an element of objective industry perspective. Hanover is our solution to overcoming this issue. The partnership helps us to interpret the big picture of our market positioning through objective eyes.”
– Amy Przywara, Vice President of Marketing, Sylvan Learning
Make decisions with confidence, not guesswork
Hanover Research provides high quality, custom research and analytics through a cost-effective model that helps clients in the corporate, education, and healthcare sectors make informed decisions, identify and seize opportunities, and heighten their effectiveness.
Flexible
Ongoing research agenda adapts with your organization’s needs
Expert
200+ analysts with advanced research expertise
Efficient
Annual, fixed-fee model delivers shared costs and benefits
Dedicated
Exclusive account and research teams ensure strategic partnership
