Product Portfolio Management 101

Product portfolio management is a strategic approach employed by businesses to oversee and optimize their collection of products and services—known as their product portfolio. It involves evaluating and prioritizing the allocation of resources across various products to ensure alignment with organizational goals, market demands, and profitability objectives. Through this process, companies can make informed decisions regarding which products to develop, maintain, or retire, thus maximizing the overall product portfolio value and enhancing competitiveness in the market.