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Our previous article, we explained how Gocious' Weighted Product Score can help you determine how well your product meets market and business constraints. With our new release, you can now identify how specifications are impacting your overall product score. With this new feature, you can detect and address underperforming specifications to improve your overall product fit.
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- Improving your product fit using weighted score
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Breaking down the score
Going back to our Laptop example with our fictitious business, Laptops R Us. Since our last article, Laptops R Us has optimized their products and now are offering three products called ExecXAlt-1, ExecXAlt-2, and ExecXAlt-3 with the following configuration:
The team is looking for further opportunities to improve the score of the product line. With the new feature, now they can see the impact of every specification using the table below:
Now with Gocious, Laptops R Us can see the average, minimum and maximum score of every spec across all buildable variants. The overall product score is simply the weighted average of the specification scores. The table shows that cost is an opportunity that can increase the overall product's score.
Optimizing the cost
You pull up the score specifications and see that the current cost of processors is as follows:
After negotiations, the team was able to reduce the cost of the processors by 20%. You also decide to remove the 300 GHz processor for their ExecXAlt-1 laptop as it was too expensive for that market segment.
With these adjustments, Laptops R US could easily calculate the score's impact, as is shown in the table below.
Summary
Quantitative analysis of your products provides a level of confidence and insight that otherwise would be hard to achieve. With the ability to see each specification's scores, now you can gain insights into opportunity areas for your product.
Try Gocious free for 30 days now and gain new insights into your products in no time.