Harvia has grown from a Finland-focused family business into a multi-brand market leader. At the heart of the company’s vision, is the desire to be the leading ‘one-stop-shop’ in the sauna and spa industry.
An extensive, high-quality product portfolio is one of the key elements in Harvia’s strategy.
Yet, it was recognised by the Harvia’s top management team that as a result of the unyielding “can-do” attitude and “customer-first” mindset built during the company’s 70 year-long history, the product portfolio was no longer as well structured as it should be. There were several overlaps and cannibalisation in certain product categories and a lack of focus in others. Harvia wanted to gain deep insight and practical knowledge to enhance its portfolio and thus further strengthen its market position.
Co-founders initiated the project by outlining a smart and sound methodological approach.
First, for the ‘as-is’ phase, several stakeholders from different departments were engaged to complete the review of the current situation through in-depth interviews. This multi-stakeholder dialogue allowed us to create a clear characterisation of the status quo, which was vital to successfully launch the project.
Next, for the ‘could-be’ phase, a set of recommendations were developed across all the identified areas of improvement. The recommendations were then prioritised in terms of impact and do-ability together with the Harvia’s management team. The prioritised recommendations were then turned to concrete proposals of action and implementation plans.
As the three most essential results of the project, Harvia gained:
1) a consistent view of the areas where it could improve the management of its portfolio;
2) a consolidated list of portfolio optimisation actions aimed at reducing complexity and strengthening the offering for key segments; and
3) an updated definition of the portfolio management process for end-to-end product lifecycle management.
With a consistent product portfolio, Harvia is primed to provide even more relaxing experiences and natural wellbeing to people across the globe.