A market full of competition is defined as a RED OCEAN. And when you create a niche of your own or your own market, it’s defined as a BLUE OCEAN STRATEGY.
Let me share you a case study that I have observed in the mobile handset area, a product which almost every human being uses.
We all began with a Motorola then moved on to a Nokia and then to a BlackBerry. Apple came and changed the game and we started knowing phones as SMARTPHONES, so smart that today they are more powerful than computers.
What did each of the above brands do?? Simple. They innovated. They created and implemented blue ocean strategies and became market leaders.
The market where all compete in and is congested is termed as a red ocean where business means price war to a great extent. But when you innovate and create a niche and create your own market, it means you have created a blue ocean market. At SAVV we ventured into villa developments when all developers are planning to maximize FSI and sell apartments. In villas the owners own the land too. Which is a niche offering in today’s market. And that’s what differentiates us from other real estate developers and the rental support to our buyers is icing on the cake which helps and supports the buyer’s decision.
When apple created the touch phones, it was a totally new category and created a huge new market and set a new trend. The unbeatable BlackBerry lost the market which they had won from Nokia but failed to innovate further and lost to apple and other touch phone manufacturers.
We need to realize that a blue ocean strategy does not last forever. It didn’t for Motorola, Nokia BlackBerry and nor will it last forever for Apple and other smart phone manufacturers unless one keeps innovating. Our innovation at SAVV is our customer service and our responsibility to our customers for the commitments that we make to them. Being responsible and implementing commitments thrills a customer and makes him our brand ambassador.
Blue ocean strategy has a shelf life in terms of time. One can move to newer markets also where the blue ocean strategy can still be blue. But stagnation in strategy will turn the blue ocean to red which means innovating needs to be constant. We at SAVV need to be alert of ensuring that we explain the value proposition to every client and keep updating him on how.
So friends, create a niche in whatever you do and use it like the blue ocean strategy which will be your differentiator.
Remember value creation for blue ocean means lower price, better and more features and improvement in customer experiences.
When u operate in the blue ocean, customers want to be your customers. It’s not easy. But it’s doable. And bcos it’s not easy, all can’t do it. So you can do it and be a market leader in your line of activity.