Working with something completely new is always thrilling and a little bit scary as you don’t have any guides or templates to help you. You have to experiment and take risks if you want to achieve success.
Introduction
Very often, startup owners who come up with an innovative product don’t know where to start and how to implement all their thoughts into a real product that speaks its value. This case study proves that sometimes a bare idea is not enough to see the growth of your startup. It is very important to implement it correctly and make the product look valuable for its users. While people tend to think that the https://www.eleken.co/blog-posts/blue-ocean-strategy-grow-your-business-without-having-to-compete secret of innovative products lies in a unique idea, the blue ocean strategy guides entrepreneurs on how to turn their ideas into a profitable company.
Tips On Applying The Strategy
To cut the long story short, the blue ocean strategy suggests business owners focus on their idea, perform a blue ocean market research to find something that differentiates the company from other propositions and create a catchy tagline that communicates the product’s value.
Companies That Created An Uncontested Marketplace
Adding something innovative to an already existing industry doesn’t mean you have to develop a completely new product.For example, Netflix is focused on providing great customer service instead of opening DVD stores.Uber didn’t spend money on buying cars to compete with taxi owners. They decided to create an application that would connect drivers and customers in one place.Airbnb didn’t buy houses in different locations, instead, they created an easy-to-use service that unites already existing houses for rent in one place. All the above companies used the blue ocean strategy to create new demand. Read further to learn how they did it and what a successful blue ocean strategy requires.
To Sum Up
As you can see from the blue ocean products examples above, these companies didn’t invent new products, they just offered a valuable upgrade of their service and changed their business model. Coming up with the strategy of blue ocean is complicated and risky, but if you manage to create a product/service that clearly communicates its value people will notice you on the market.Read more about the way Uber, Netflix and Airbnb show their value propositions:
About Us
Our designs are used in more than 20 applications out there.We have a long list of happy clients and an impressive portfolio.We do what we love most – design great productsDuring our five-year journey, we’ve worked with many great companies around the globe including an innovative precision agriculture company, a data engineering startup and an established 20-year-old marketing service provider on the verge of expansion.
