By the end of this week you should be able to:
- list the 10-step product plan process
- identify the key factors that should be considered when undertaking and implementing the planning process.
10 step product plan process
- Business Context
- to identify the business requirements and context. Tools include interviews, mind-maps & business demand scenarios
- Product Information
- to determine the current position of the product within the enterprise, as well as expected level of support. Tools: spreadsheets, “7Ps of marketing”
- External Context
- to collect facts around change-drivers, target behaviour and demand ecology.
- to set realistic objectives
- Fit - Product & Forecast
- to consider likely outcomes of current approach
- builds on (5) above
- New approaches
- to generate as many objective-approach pairs as possible
- Select best approach
- identify the best objectives and approach to tae forward
- Write the plan
- Implement the plan
What's the difference between the plans?
Think of a business plan and a marketing plan in terms of a pizza. A business plan is the whole pizza. A marketing plan is a slice of pizza. A product launch plan would be the ingredients on the slice of the pizza which constitutes the marketing plan.
Key factors to be considered
The following potential issues should be considered when undertaking the planning process:
- ideas may exist in someone's brain, rather than formally undertaking the process steps
- data might be “assumed” rather than collected
- unnecessary detail
- unfounded, unrealistic assumpts
- lack of “future proofing”
Loopbacks are necessary and often a frequent part of the process.