Instead of focusing on the competition, this framework takes your business out of the fray and sets you on a unique path.
What do we mean by this?
When used properly, the blue ocean strategy australian whatsapp number can carve out a completely new market where competition is minimal or nonexistent.
Read How to Conduct a B2B Competitive Analysis
To get started, compare your business’s value curve with your competitors’. A value curve shows how your product or service delivers value to your customers based on certain factors of competition in your industry.
Here are the steps involved in the blue ocean strategy:
Identify and highlight the critical factors of competition in your industry, such as price, quality, performance, and convenience.
Analyze your competitors’ value curves and determine the critical factors and metrics.
Identify uncharted factors or services.
Plot a new value curve that differentiates your business from the competition.
And voila! You’ve discovered a potential blue ocean for your business.
