Building Service Packages and Product Lines
Refining the offerings you sell is one of the greatest value-added aspects of strategic planning.
Assuming your corporate mission and vision are defined, it naturally flows to ask the question, “If we are going to fulfill that mission and vision, what services and products should we sell to achieve it?” A good assessment technique is to review the competitor research, specifically several competitors’ products or services (and even companies with whom you don’t directly compete), and see if there are any new areas that could give you competitive advantages if added. The flipside may indeed be that you are competing in too many areas, and need to streamline.
Strategic examination of your offerings also means we will consider the possibilities of bundling some of your products and services together as “solutions” for various kinds of customers. How does this improve your business? Many times, customers pick “a la carte” from your “menu” of services, often ordering the same single aspect, over and over again. Your customers may not even realize your organization has strengths well beyond what they have been buying. Grouping products and services in creative ways will assist you in boosting the value per sale, and in enhancing your customers’ satisfaction.
At Tenato, one key question we like to ask is, “If the ideal customer knocked on your door, and would say yes to everything you offered, what would you offer?” This allows us think broadly about the optimal offerings for your customer, helping to design solutions that carry greater value than individual products or services alone.
Once your offerings have been optimized, we can continue on to consider how to price them.