In today's competitive market environment, companies need a comprehensive, dynamic portfolio tool to support business collaboration and growth. The SuperEngine Matrix is one such product portfolio tool, which comprehensively considers the product portfolio based on the three dimensions of increment, stock, and trend to help enterprises develop effective business development strategies. This article will introduce the concept, composition and application of the super-engine matrix in detail, and explain it with specific cases.
1. The concept of super-engine matrix
SuperEngine Matrix is a product portfolio tool based on business synergy and business development development. It comprehensively considers the product portfolio from the three dimensions of increment, stock and trend to support the business synergy and expansion of enterprises. This tool can help companies evaluate and optimize their product portfolio, develop business development strategies, and guide companies to conduct effective product management and market competition analysis.
Second, the composition of the super-engine matrix
According to the military idea of internal and external operations, the business of enterprises in the super-engine matrix is divided into internal business and external business.
Insider business
Insider business refers to the category that can represent the brand in the minds of customers or the business category that started. For enterprises, the internal business is the foundation and core, which carries the brand value and market positioning of the enterprise. The development of the internal business is directly related to the survival and development of the enterprise.
The internal business is divided into regular products, traffic products, signature products, and image products
For example, for a sneaker brand, an in-line business might include the production and sale of classic sneakers. The brand continuously optimizes the design and materials to improve the quality and efficiency of the in-line business. At the same time, the in-line business also represents the heritage and history of the brand, helping to strengthen the brand image and market position.
Frequently sold productsRefers to products that are available to major competitors and are frequently purchased by everyday customers. Regular products are indispensable products for enterprises to gain market share, which can meet the daily needs of customers and bring stable cash flow and market share to enterprises. Enterprises that lack regular products are very easy to lose the mainstream market and are easily marginalized by competition.
For example, in a large supermarket, its common products may include daily necessities, food, etc. These products are in general demand and can bring a steady flow of customers and income to supermarkets. Supermarkets need to focus on inventory management and strategies for frequently sold products to meet customer demand and maintain a competitive edge.
Traffic productsRefers to products that can attract a large number of customers' attention and purchases, usually with the characteristics of low **, low gross profit and wide demand. Traffic products can bring a large amount of customer traffic and market share to enterprises, and are a very important product type for enterprises in market competition. Based on the acquisition of traffic, the design of traffic products needs to focus on performance, **, and selling points.
For example, in an e-commerce company, the traffic product may be a first-class product or a popular product. By attracting customers' attention and buying these traffic products, e-commerce can improve the traffic and rate, increase customer stickiness and purchase conversion rate.
Signature productsIt is a representative product of product quality and performance, which can express brand positioning, establish a brand image in the minds of customers, and establish a position in the industry competitionIt has strong product competitiveness, which is conducive to the market share of the enterprise. Signature products are an important profit for enterprises** and brand representatives, and its quality and performance need to reach the industry's leading level to attract more customers and market share.
For example, a mobile phone manufacturer's signature product may be its flagship mobile phone series, which has the characteristics of high performance, high quality and high added value. These phones can demonstrate the strength and quality of the brand, increase the brand's awareness and reputation, and then drive the sales and market share of other products.
Image productsIt refers to the products that represent the higher or highest level that the enterprise can achieve, set off the brand image and product grade, and can represent the high-end image that the enterprise wants to obtain, and improve the brand image and reputation. Image products are an important means for enterprises to display their brand image and high-end image, and its quality and performance need to reach the top level of the industry to attract high-end customers and market share.
In the case of a luxury car brand, for example, the image product may be a high-end luxury sedan. This sedan represents the highest technology and quality of the company, and is able to reflect the premium image and status of the brand. By launching this image product, businesses can improve their brand image and reputation, attract high-end customers, and increase their market share.
Outside business
External business refers to the new market or new business that enterprises enter in order to cope with competition, expand business, and create incremental markets. External business is a new field that enterprises enter through technological innovation and market expansion on the basis of internal business. The development of external business can bring new growth points and competitive advantages to enterprises.
The second battlefield of the external business, innovative products, and external signboards.
Taking a sportswear brand as an example, the outside business may include the development and promotion of new products such as sports bags and sports accessories. These new products will expand the company's product line, attract new customer groups, and bring new growth opportunities to the company.
(1) The second battlefieldOriginally, the term war referred to the period of World War II, which opened up a battlefield with Western Europe as the main region in addition to the Soviet battlefield, marked by the Normandy landing. The second battlefield in business is often to effectively deal with competition and market expansion. Based on the original technology or products of the enterprise, to expand the new market, it is necessary to meet the two necessary conditions of "suitable technical products and necessary resources" in the new market. The second battlefield is one of the important strategies adopted by enterprises to expand into new markets and business areas. By entering new markets and areas, businesses can gain new growth points and competitive advantages.
Taking a ** education enterprise as an example, its second battlefield may be the expansion of the education field. Enterprises use the original technology and product advantages, combined with offline educational resources, to open offline courses and training programs. By entering the offline market, businesses can expand their market share and customer base, increasing brand awareness and competitiveness.
(2) Innovative productsIt refers to the new category or new product item that the enterprise will be involved in based on the trend in order to open up the incremental market. New products should set up an elimination mechanism, and new products that fail to pass the incubation period should be eliminated in time, and only products that form a certain market share and customer scale can become truly innovative products. An innovative product is a type of new product launched by a company in order to meet market demand and cope with competition. The development and promotion of innovative products requires a lot of investment in capital and technical support, but at the same time, it can also bring new growth points and competitive advantages to enterprises.
In the case of a tech company, its innovative product might be a smart home device. This device uses advanced technology and design concepts to be intelligent, convenient and personalized to meet the needs of customers for smart homes. By launching this innovative product, companies can stay ahead of market trends, expand their market share and customer base, and improve their brand competitiveness and market position.
(3) Outside signboardsThe highest principle of external business is to cultivate "external signboards", which represents the success of business development. Generally speaking, it is often the case that a successful brand building an external signboard will drive the company to the next stage of large-scale growth. Generally speaking, when a brand successfully creates an "outside sign", it will lead the business to the next stage of mass growth. This is because "outside signboards" can attract more customers, partners and investors, bringing more resources and support to the enterprise. At the same time, the "external signboard" can also enhance the brand image and reputation of the enterprise, and enhance the trust and loyalty of customers to the enterprise. These factors will provide a strong impetus and support for the development of enterprises.
For example, a fast-food restaurant decided to improve and optimize some of its signature dishes in its traditional fast-food business to meet the needs of the new market. Fat-reducing meals have been introduced, and healthier and more nutritious dishes have been added, such as salads, juices, whole grains, etc. These new dishes not only meet the needs of local consumers, but also differentiate themselves from local fast food restaurants. Local consumers have responded well to these new dishes, which has also led to sales growth in other traditional businesses of fast food restaurants, and has also increased the restaurant's brand awareness and influence in new markets.