Answer :
The overall evaluation of a product that usually assesses the product's probability of success is:
- business case analysis: This involves a detailed examination of the potential benefits, costs, risks, and returns associated with introducing a new product or service. It evaluates the market demand, competition, financial feasibility, and overall viability of the product. By analyzing these factors, businesses can determine the likelihood of the product's success and make informed decisions regarding its development and launch.
- portfolio review: This refers to the assessment of a company's entire product portfolio to determine the performance of individual products and their alignment with the company's strategic goals. By conducting a portfolio review, businesses can identify underperforming products, assess the potential success of new products, and make adjustments to their product mix to enhance overall profitability and competitiveness.
Both business case analysis and portfolio review are essential tools for businesses to evaluate the potential success of a product and make strategic decisions that optimize their product offerings and market position.
- business case analysis: This involves a detailed examination of the potential benefits, costs, risks, and returns associated with introducing a new product or service. It evaluates the market demand, competition, financial feasibility, and overall viability of the product. By analyzing these factors, businesses can determine the likelihood of the product's success and make informed decisions regarding its development and launch.
- portfolio review: This refers to the assessment of a company's entire product portfolio to determine the performance of individual products and their alignment with the company's strategic goals. By conducting a portfolio review, businesses can identify underperforming products, assess the potential success of new products, and make adjustments to their product mix to enhance overall profitability and competitiveness.
Both business case analysis and portfolio review are essential tools for businesses to evaluate the potential success of a product and make strategic decisions that optimize their product offerings and market position.
