A few questions that you should be asking yourself are: For most smartphones the objective is to maximize battery life. Get ready to double-up on what you do best.
This is not so easy. Reduce — Here, the idea is to reduce any of those factors which were nothing more than a consequence of the competition between industry players to differentiate themselves.
Eliminate — In this step, the idea is to identify those factors which have been the basis of industry competition for a long time. The term red oceans comes from the idea that the terrible competition turns the ocean bloody. To sustain this competition, companies focus on building advantages over their competition.
This is where the smartphone example illustrates a design trade-off decision. Buyer Personas in the Capital Markets Thought Leadership A strong thought leadership program will be another component vital to the success of your blue ocean strategy.
This creates uncontested market space and makes competition irrelevant. After all, the list is against their nature of uniqueness.
List out your factors, and map them out on the blue ocean strategy canvas. They are out there. But by leveraging social media platforms such as LinkedIn, Facebook, Twitter and blogging, Mark became the subject matter expert on the Smartpen. In very simple terms, for example, if all of your competitors compete on price, you might choose to compete not on price but on quality, by launching a premium brand.
Avoid The Red Ocean Strategies Choosing between the red oceans and blue oceans all comes down to the elements that your blog will compete on. Build Execution into Strategy — The key to long term success is to make great customer experiences your core business.
In blue oceans, competition is irrelevant because the rules of the game are waiting to be set. Here are some things for you to try: Find places where the competition is irrelevant Reconstruct market boundaries Create and capture new demand Avoid price wars and shrinking profits Many in the financial services sell commoditized offerings to an industry with limited growth potential.
As the market space gets crowded, prospects for profits and growth are reduced. Products become commodities or nicheand cutthroat competition turns the ocean bloody; hence, the term "red oceans".What is Blue Ocean Strategy Part 3 - The Strategy Canvas Robynne Berg - Monday, October 31, Blue ocean strategy is a suite of strategic principles, tools and methodologies that help organisations create leaps in value and profit by looking beyond the limitations of traditional competitive strategy.
Blue Ocean Strategy & Shift Tools W. Chan Kim and Renée Mauborgne created a comprehensive set of analytic tools and frameworks to.
For example, "competing factors" in blue ocean strategy are similar to the definition of "finite and infinite dimensions" in Funky Business. Just as blue ocean strategy claims that a red ocean strategy does not guarantee success, Funky Business explained that "Competitive Strategy is the route to nowhere".
The strategy canvas is the central diagnostic and action framework for building a compelling blue ocean strategy. Simon Associates helps you build yours.
For that there is nothing better than something called the ‘Blue Ocean Strategy.’ Red Oceans, Blue Oceans, And Your Blog There are two types of oceans in this world, according to authors W.
Chan Kim and Renee Mauborgne, the writers of the book Blue Ocean Strategy.
The Blue Ocean Strategy Tools – Strategy Canvas This tool serves as both a diagnostic aid and an action framework for creating blue ocean strategies.
On a graph, the horizontal axis depicts a range of factors that a company competes on while the vertical axis shows the offering level received by the buyers.Download