Being in the Sales and Marketing team, I always am interested with how to penetrate, market the product, how to enter the market, to get at least majority of the market share. Recently, I bumped into an article in the business section of a particular site about the blue ocean strategy. My question is: How blue is your ocean? lol
Try answering the questions below and see if you have answered mostly YES... I got this from www.blueoceanstrategy.com
- Is your company facing heightened competition from domestic and international rivals?
- Do your sales representatives increasingly argue they need to offer deeper and deeper price discounts to make sales?
- Are you finding you need to advertise more to get noticed in the marketplace, yet the impact of each advertising dollar spent is falling?
- Is your company focused more on cost cutting, quality control, and brand management at the expense of growth, innovation, and brand creation?
- Do you blame your slow growth on your market?
- Do you see outsourcing to low cost companies or countries as a principal prerequisite to regain competitiveness?
- Are mergers and acquisitions the principal means your company sees to grow?
- Is it easier to get funding to match a strategic move made by your competitor than it is to get internal funding to support a strategic move that allows you to break away from the competition?
- Is commoditization of offerings a frequent worry of your company?
- List your key competitive factors; now list your competition’s. Are they largely the same?
If you say YES to most of the questions above, then your ocean is not blue.. its RED.lol... this BOS offers ways on how to fight the RED OCEAN filled with sharks.
To be able to stand from the rest, think of your rivals as being IRREVELANT...
