EXAMPLE REFLECTION – MIND MAPPING

Challenge

I work in a Real Estate Company where for ten years we have sold four sorts of products,  houses for a specific range of client, I mean people whom their family salary is between  $1,000 to $2,000. The region where we sell these houses is the west region and the prices  range is since $84,000 to $120,000.

In the last two years, we began to develop our business in another zone quite close to the  main city, but the prices are more expensive, the reason is because of we are looking for  another target, where the basis family income is $4,000. In this new area we have a lot of  competitors and the average market price is $200,000 up. The issue is that we have many  troubles in this new project, the sells are low, so we want to replicate the success of our  first product.

Selection

For this case, I chose Mind Mapping. Because of I wanted to see the big picture, it included  the weaknesses and fortresses of our current expensive houses, the competitors, the  market’s prices, the real clients and what old clients liked of our old project. As you see,  there is a lot of information, so the best way to see all those things was through mind  mapping.

Application

The first step was to interview the clients from the old project, they explained what they  like from those houses, the sample was twenty persons They also pointed their dislikes. The  person in charge was easygoing and very patient if the client was angry about the product.  The second step was to interview the current clients who live in the expensive houses they  could say the likes and dislikes of their houses, the behavior of the person in charge was  similar than the first step.

We also did some researches on the internet to see the prices of the market in that zone,  during this research we found main competitors, and after that, we decided to visit the  competitors as clients to feel how they manage their sells and what factor make differences  from another competitors.

We collected all those variables, we put everything together in our mapping to understand  what the pros and cons in our product are to generate an idea and see what we would  change.

Insight

What we could find in our mind mapping was in the case of old clients, they liked the big  space in living room because they could decorate better, they also liked the closets made

of glass, the security hut because they feel safe and the main park because there are many  trees; the negative point were the narrow backyard. In the new project, the pros were the  club house, access to gym and swimming pool, in the specific case of house, they liked the  fences between houses, the closets made of wood, the spectacular kitchen and the spacious  bedrooms; what they didn’t like were again the narrow backyard, they felt that the living  room is too crowded and the thought that houses seem to be too close from each other.

We could find that we just have one main competitor because of the prices, the prices are  too similar and this competitor´s house has a bigger portion of land than us. We also found  that other real estates companies have been problems selling houses because of the  economy so they have many promotions like prizes, discount and travels tickets. We also  could identify that main ethnic target in this kind of product are Chinese people, so that is  very worth. How you see, we have the big picture we could see some features which allow  us to understand the problem and what we would make to solve it.

Approach

The next time, I would  choice the companies to analyze  according to some parameters  because there are me many projects in this area, but not all them are focused on the same  target, of course, it could be an indirect influence but that doesn´t rule all the market. Why  should I do this? Because we spent a lot of time investigating these projects and visiting  them and that means costs for our analysis.


EXAMPLE REFLECTION – MIND MAPPING Challenge I work in a Real Estate Company where for ten years we have sold four sorts of products , houses for a specific range of client , I mean people whom their family salary is between $ 1,000 to $ 2,000 . The region where we sell these houses is the west region and the prices range is since $ 84,000 to $ 120,000 . In the last two years , we began to develop our business in another zone quite close to the main city , but the prices are more expensive , the reason is because of we are looking for another target , where the basis family income is $ 4,000 . In this new area we have a lot of competitors and the average market price is $ 200,000 up . The issue is that we have many troubles in this new project , the sells are low , so we want to replicate the success of our first product . Selection For this case , I chose Mind Mapping . Because of I wanted to see the big picture , it included the weaknesses and fortresses of our current expensive houses , the competitors , the market ’s prices , the real clients and what old clients liked of our old project . As you see , there is a lot of information , so the best way to see all those things was through mind mapping . Application The first step was to interview the clients from the old project , they explained what they like from those houses , the sample was twenty persons They also pointed their dislikes . The person in charge was easygoing and very patient if the client was angry about the product . The second step was to interview the current clients who live in the expensive houses they could say the likes and dislikes of their houses , the behavior of the person in charge was similar than the first step . We also did some researches on the internet to see the prices of the market in that zone , during this research we found main competitors , and after that , we decided to visit the competitors as clients to feel how they manage their sells and what factor make differences from another competitors . We collected all those variables , we put everything together in our mapping to understand what the pros and cons in our product are to generate an idea and see what we would change . Insight What we could find in our mind mapping was in the case of old clients , they liked the big space in living room because they could decorate better , they also liked the closets made of glass , the security hut because they feel safe and the main park because there are many trees ; the negative point were the narrow backyard . In the new project , the pros were the club house , access to gym and swimming pool , in the specific case of house , they liked the fences between houses , the closets made of wood , the spectacular kitchen and the spacious bedrooms ; what they did n’t like were again the narrow backyard , they felt that the living room is too crowded and the thought that houses seem to be too close from each other . We could find that we just have one main competitor because of the prices , the prices are too similar and this competitor´s house has a bigger portion of land than us . We also found that other real estates companies have been problems selling houses because of the economy so they have many promotions like prizes , discount and travels tickets . We also could identify that main ethnic target in this kind of product are Chinese people , so that is very worth . How you see , we have the big picture we could see some features which allow us to understand the problem and what we would make to solve it . Approach The next time , I would choice the companies to analyze according to some parameters because there are me many projects in this area , but not all them are focused on the same target , of course , it could be an indirect influence but that doesn´t rule all the market . Why should I do this ? Because we spent a lot of time investigating these projects and visiting them and that means costs for our analysis .