When you brainstorm your strategy for a new product, there are a lot of variables to consider before its launch. What’s your target market? Who are your competitors? How are you going to promote it? Covering all bases is no easy feat, but thinking and planning with iMindMap makes it simpler to comprehend.
With its radiating branches, a Mind Map will seamlessly guide you through each stage of your product plan. No stone will be left unturned thanks to the clear visual overview your Mind Map provides. Follow our 5 steps below with iMindMap’s Mind Map View, and go into your product launch with confidence.
To gain a solid understanding of your customers, you need to conduct market research. Outline the steps you will need to take to carry out your research, and think about how you will go about building your customer profile. Think about their motives for using your product, and how you are going to communicate with them. When your research is complete, add your findings to your Mind Map for a bird’s eye view of your target market.
Before production, there are a number of hurdles to overcome, so you need to cover all angles. Using all aspects of the production process, create a Mind Map highlighting your resources, possible production locations, your economic and ecological goals and, most importantly, your supply chain. Prepare for situations where demand is both high and low, and for inevitable learning curves. When obstacles arise, iMindMap’s flexibility allows you to make changes and adapt to the current circumstances.
Understanding and analysing your competition is an integral part of building a successful product plan. Establish your unique selling points and benefits, using different coloured branches to chunk information into themes. Using colour will also boost your ability to recall information, helping you to reel off your product’s best assets whenever the situation arises. Pinpoint your product’s competitors and their unique selling points to establish your similarities and differences. Once you’ve done that, you’ll have a better understanding of your product’s position in the market.
Many product plans contain three or more financial plans that consist of a budget financial plan, a realistic financial plan and a more flexible financial plan. Within each of those should be an estimated total cost of production. Benefit from being able to attach documents to your Mind Map, such as quotes and spreadsheets, to keep your financial plans in one place. Having a thorough financial understanding of your business will be particularly appealing to potential investors.
All of your planning means nothing without customers. Create a Mind Map exploring how you will promote your product and build a loyal customer base. Cover every aspect of promoting your product by including branches for areas such as public relations, email marketing, social media, sales and offers. With its radiating branches, use of keywords and colour, Mind Mapping triggers associations in your brain, helping you to draw out ideas you might not have thought of otherwise. Later on when you’re carrying out your marketing strategy, add the results of each method to your Mind Map to spot what is and isn’t working at a glance.
Mind Mapping a product plan means that you will cover everything. With keywords, images and colour helping your brain to create associations, you will constantly be drawing out new ideas and using your visual overview to spot gaps in your planning.
Plan rigorously and cover all bases with iMindMap 10 Ultimate. Download the free trial now.← How to overcome planning challenges with iMindMap Introducing iMindMap Kids, our new iPad app! →