Trapped in this zero-sum game, you and they are merely dividing up a highly competitive world into winners and also-ran’s. By removing items from teh service you can reduce cost. Keeping this cookie enabled helps us to improve our website. Overcome denial about your company’s current position. This website uses cookies to provide you with the best browsing experience. Present canvases to stakeholders, including not just management but also employees, customers, noncustomers, Limit presentations to 10 minutes – any longer and the strategy is too complicated, Judges award stickers to their favorites. It’s important to list the values that your customers truly care about. All of the other options to do this at the time were very cumbersome to do this. Learn more about the Strategy Canvas here. Fancy wines tried to offer more of everything – tasting complexity, refined image, aging, vineyard history and prestige, and price. The focus of our all of our services is to provide a positive return on investment to our customers. Force people to create multiple canvases to push thinking. This website uses the following additional cookies: Government Agencies and Not-for-Profit Associations, Prototyping and Serious Play to Test Concepts, your market space, creating a new market, adding value in highly innovative ways, tackling the unmet needs and demands of nonusers who found solutions in alternatives to your business offerings, and. For example instead of buying a dish washer they may choose to purchase soap and a dish washing tray. Here’s their strategy canvas: Even though 1,000+ premium wineries tried to differentiate from each other, they were strategically very similar. Think about your branding story, not just your budgets. If you have not read the first article in this series click here to go to the first article titled "Blue Ocean Strategy Summary" By focusing on things that are not related to price you can understand what features to focus on for your product or service to get people to pay more for your product/service and maximize profits. Try this Blue Ocean Strategy® tool: Strategic Canvas What is the problem you are trying to solve? In the example above we can see that Southwest Airlines has used ‘car travel’ thinking to create an area of differentiation to their strategy Author note: Many thanks to strategycanvas.org who provided the strategy canvas tool used to create the strategy … At least the canvas is starting to create a picture of their investment strategy today and how to create a new point of difference in the future. Zum Nutzenfinder. When you try to offer extremely high value on all dimensions on your strategy canvas. In this case, you’re trying to be something for everyone, making it compelling for no one and delivering a worse experience than a focused competitors. For example when Apple launched iTunes downloading music from the internet was already very prominent. The real nemesis here is a business model which pits you against others in your industry. This strategy canvas clearly shows how Cirque du Soleil offered superior customer value while lowering certain costs. There may be a blue ocean by taking an approach opposite of the rest of the industry. The book says that most products or services require other products or services to be effective. Whether those were meaningful differentiators to create a new focus and attract nonusers is still to be tested. For each group, plot a. But in Blue Ocean thinking, you stop competing altogether. In the 1990s, wine in the United States occupied two segments: high value fancy wines vs mass-produced budget wines. It is also used to show how a company can change its focus to separate itself from the competition and attract non customers currently to the industry to become customers. The strategy canvas from Blue Ocean Strategy visualizes the current state of the industry and shows how a blue ocean strategy differs from incumbents. Click here to get training on how to create a blue ocean sales & marketing strategy. Wine alternatives like beer and spirits accounted for the majority of sales, so clearly most Americans saw wine as a turn off. they have reduced a large amount of costs of keeping, maintaining and transporting the animals. It introduced entirely new elements like high production value and artistry, which were important to their customers but completely absent from normal circuses. The budget hotels were not distinguishing themselves except as low-priced competitors. Share your email and we will send you a monthly newsletter you can use every month with tips and stories about women who are rethinking their lives. Enter your email address for free updates to this blog: 1. At least a few of your assumptions are probably wrong. Click the link above or the picture below to read more. On the vertical axis: Segment buyers into distinct groups. It is designed to give you an immediate snapshot of how your business/product/service stacks up against the competition. Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings. Sign up for a free trial here. The strategy canvas makes this clear. When you plot your strategy canvas from Blue Ocean Strategy, there are two warning signs of bad strategies: Also, when you build your value curve, it’s tempting to list values that superficially differentiate you from competitors, but offer little value to your customers (Shortform examples: a re-designed website; telephone support when your customers don’t use it). To review, a strategy canvas accomplishes the following: The strategy canvas gets you to focus on big-picture strategic items, rather than getting mired in numbers, spreadsheets, and incremental improvements. Small Business Marketing - 5 Key Components, 4. Below average graphic processing with caricature images is much more appealing to that target. Contact us. The Contoso Hotel, a high-priced luxury hotel, was beset by rivals that were well-invested in the key factors of competition. It plots two axes: The goal of a blue ocean strategy is to deliver more of what customers value (thus offering a clearly better product), and less of what they don’t (thus saving costs). Step 1: Create A Strategy Canvas. But where to begin? Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Look Across Functional or Emotional Appeal to Buyers. Apple is a great example of this as with the iPod they made it easier to have all your music on your computer and easily move it to your iPod if you wanted to take it on the go. They explain their picks and also their non-picks, Find commonalities between strategy curves. In this step the book says you want to look to reduce features well below the industry standard to reduce cost that are still required by the market but not to the degree they are currently offered at. The key the books says is to focus on trends that are already happening and very present, not trying to predict the future and guess what trends will happen. Furthermore, there was increasing public outcry about confinement and harsh training of animals. Here is a summary of how to generate and develop strategy canvases, step by step: Here's what you'll find in our full Blue Ocean Strategy summary: Allen Cheng is the founder of Shortform. Often emotional markets have extras that add cost but not benefit, and in the functional markets the products are usually seen as commodities and can warrant higher prices by adding emotion. Why Challenger Selling Skills Make Reps Successful. What Are the 7 Habits of Highly Effective People? It identifies the important factors of competition in the industry, It shows the strategic profile of current competitors, including your company, It shows how a new blue ocean strategy creates a unique value curve, focusing on values critical to customers at the expense of less-important factors.

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