Product Portfolio

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Definition of 'Product Portfolio'

A product portfolio is a collection of products and services that a company offers to its customers. The products and services in a product portfolio can be related to each other in terms of their function, target market, or price point.

A product portfolio can be used to achieve a number of business goals, such as:

* Increasing sales
* Expanding into new markets
* Diversifying revenue streams
* Reducing risk

To create a successful product portfolio, a company needs to consider a number of factors, such as:

* The needs of its target market
* The competitive landscape
* The company's financial resources
* The company's capabilities

Once a company has considered these factors, it can begin to develop a product portfolio that meets its business goals.

Here are some tips for creating a successful product portfolio:

* Focus on products and services that meet the needs of your target market.
* Make sure your products and services are competitively priced.
* Offer a variety of products and services to appeal to a wider range of customers.
* Continually evaluate your product portfolio and make changes as needed.

A product portfolio can be a valuable tool for a company to achieve its business goals. By carefully considering the factors involved in creating a product portfolio, a company can increase its chances of success.

In addition to the factors mentioned above, there are a number of other factors that can affect the success of a product portfolio. These factors include:

* The company's marketing and sales strategy
* The company's customer service and support
* The company's financial stability
* The company's overall reputation

By considering all of these factors, a company can create a product portfolio that is more likely to succeed.

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