Peter is responsible for the Product Management & Strategy group which oversees the management and development of new products and services for Computershare's US Registry business reporting to the President of Computershare Investor Services.
Maximizing Your Current Product Portfolio
While most companies focus heavily on new product development (and rightfully so), there is a tendency to lose sight of the value from innovating the existing product set. Product tweaks and extensions are often cheaper and quicker to implement with ready-made buyer groups and current market acceptance so less of the marketing budget is needed. This makes the ROI of the projects much higher. When combined with new product development, innovation of the current products is a key part of a company’s revenue growth acceleration.
- Analyzing and Categorizing the existing product set
- Rebalancing the portfolio
- Understanding the current and future buyer needs for your existing products
- Brainstorming ideas for tweaks and extensions with key stakeholders
- Preparing the business case
- Allocation of resources between current and new product development
- The politics of old vs. new
- Pricing of the current products and the product enhancements
- Going to market with product improvements