Managing of Products

The Managing Products feature in the Scorport Platform allows users to organize and refine products, groups, and attributes dynamically. With this tool, you can efficiently manage multiple products and their configurations, ensuring that your strategy workflows are optimized to deliver the desired outcomes.

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Key Features of Product Management

1. Multiple Products Per Strategy:

   • Users can integrate several products into a single strategy.
   • Products can cater to different decision outcomes (e.g., Yes, Maybe, No).

2. Group-Based Organization:

   • Products are organized into groups, each with unique characteristics and configurations.
   • Groups provide flexibility to categorize products based on specific requirements.

3. Dynamic Attributes and Characteristics:

   • Define multiple attributes for each group.
   • Customize characteristics such as ranges, single values, or additional perks to align with business objectives.

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Managing Products: Actions

1. Adding Products

• Create Multiple Products:
  • Add products for each decision type (e.g., premium loans for "Yes", flexible options for "Maybe").
  • Expand the product library to include variations for different scenarios.
• Add Groups:
  • Define product groups to organize offerings, such as loan types, credit cards, or services.
  • Assign unique characteristics to each group.

2. Updating Products

• Edit Product Configurations:

  • Update product details, such as interest rates, terms, or limits, dynamically.
  • Adjust ranges and single values based on market trends or customer needs.

• Refine Group Attributes:

  • Add, remove, or modify attributes and characteristics for product groups.
  • For example, update the loan period or add new perks like free premium cards.

3. Deleting Products

• Remove products, groups, or attributes that are no longer relevant.
• Archiving options are available for temporary removal without permanent deletion.

4. Fine-Tuning Products

• Dynamic Adjustments:
  • Adjust all elements, from product characteristics to group attributes, in real time.
  • Ensure that products align with the evolving needs of your strategies.
• Testing and Validation:
  • Use Scorport’s simulation tools to test how changes affect strategy performance before deploying.

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Example Use Case: Loan Products for a Strategy

Products for a Loan Strategy:

1. Product 1: Premium Loan

   • Group: Fixed Interest Loans
   • Attributes:
     • Interest Rate: 8% (Single Value).
     • Loan Period: 36 months.
     • Additional Perk: Free Premium Card.

2. Product 2: Flexible Loan

   • Group: Variable Interest Loans
   • Attributes:
     • Interest Rate: 7% to 9% (Range).
     • Loan Period: 24–48 months.
     • Additional Perk: Discounted Processing Fee.

3. Product 3: Follow-Up Service

   • Group: Alternative Offers
   • Attributes:
     • Credit Advisory Service.
     • Free Financial Planning.

Actions:

• Add, edit, or remove any of the above products dynamically based on customer profiles or strategy requirements.

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Benefits of Product Management

1. Flexibility:
   • Manage and adjust products dynamically to meet evolving business needs.
2. Customizability:
   • Tailor product groups and attributes for precise control over offerings.
3. Scalability:
   • Handle multiple products, groups, and attributes across strategies without limitations.
4. Efficiency:
   • Ensure strategies are optimized by refining product offerings in real time.

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Managing products effectively ensures that your strategy workflows are dynamic, adaptable, and aligned with business objectives.