Navigation

Managing Successful Product Diversification

Language

English

Programs:

Description

Managing Successful Product Diversification Microfinance institutions are increasingly motivated to offer a variety of products that can better meet the needs of new and existing clients while improving institutional profitability or sustainability. This course will examine the challenges inherent in delivering more than one product at a time and explore strategies for meeting those challenges.

Outline

 

Day 1: Preparing for Product Diversification
  • Deciding whether or not to diversify
  • Selecting the right product mix – which products for which market segments?
  • Prioritising products’ development
  • Developing new products – lessons learned
 Day 2: Implementing Diversification
  • Changing the institutional culture
  • Deciding which staff should deliver which services
  • Empowering frontline staff to deliver multiple products
  • Using incentives as a management tool
  • Communicating the product offering clearly to clients
 Day 3: Maintaining a Strategic Product Mix
  • Understanding product lifecycles
  • Monitoring product performance
  • Protecting against product proliferation
  • Managing product risk
  • Adjusting the product mix