What is meant by Product range analysis?
The term "product range analysis" refers to the systematic examination and evaluation of a company's entire product portfolio. The goal is to assess the performance of individual products, identify trends and patterns, and maximize the effectiveness and profitability of the product offering. This analysis helps companies make informed decisions about product portfolios, assortment optimization, and strategic direction.
Typical software functions in the area of "product range analysis":
- Product Evaluation: Analyzing sales figures, margins, and profitability of individual products in the range.
- Range Overview: Providing an overview of the entire product portfolio for easy identification of bestsellers and slow movers.
- Trend Analysis: Identifying trends and patterns in sales behavior to support future product decisions.
- Competitive Analysis: Comparing own product performance with competitors to assess market position and competitiveness.
- Categorization: Grouping and classifying products based on various criteria such as sales, profitability, or customer preferences.
- Reporting: Generating detailed reports and dashboards to visualize analysis results and support decision-making.
- Forecasting: Creating sales forecasts and scenario analyses based on historical data and market developments.
- Product Rationalization: Recommendations for retaining, removing, or introducing new products based on the analysis.