The article discusses the challenges of maintaining a burgeoning product portfolio created by addressing individual client needs and adding features. Over time, companies may accumulate diverse, bespoke solutions that don't align with customer segments or business strategy. The 'Product Kondo' exercise helps organizations assess their portfolios, retain value-adding products, and discard ineffective ones. By prioritizing customer satisfaction and reducing long-term costs, this cleanup can enhance focus and productivity, fostering stakeholder buy-in for a customer-centric approach.
It starts with good intentions - a quick fix here, a shiny feature there - and suddenly, your product portfolio's bursting at the seams.
Your product portfolio should cater to your core customer segments and meet their needs.
This article highlights the benefits of going through a clean-up exercise and explains how to conduct a 'Product Kondo' exercise on your product portfolio.
Like Marie Kondo, this exercise seeks to identify the most valuable items for both your business and your customers.
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