Are you in the market space wherein you sell the same products and services for the same target customers? You can see your company and your competitors saying
- I also or we also do this
- We have better prices, better products or we offer better services
And not just that, you can notice a barrier in producing good business results. Then that means you are in the Red Ocean, wherein
- it’s an existing market space
- you aim to beat the competition
- and exploiting existing demands
It is a difficult place to do business.
You are focused on your “Competitive advantage”, How to be better than your competitors, how to make the customers choose you over the others. Most often, scalability on that market is limited, and competition keeps on increasing.
But the good news is that there is a way to get away from that ocean.
It is by creating your new ocean, it is called the “Blue Ocean Strategy”.
You will innovate the value you provide to customers in order
- to create new market spaces
- to make the competition irrelevant
- to create and capture new demands
It makes you the only and obvious choice of the market, and it will open up strong growth opportunities for your business. Here are websites that will help you create your blue ocean.
Here at design316, we think that this strategy is not new to businesses, especially those who have been 10, 20, or more than 30 years in the industry. They might have heard about this strategy or even tried value innovation countless times already. Not many businesses succeeded in executing this approach because of a certain gap. There is a recurring challenge in doing this strategy, it is often difficult to know if a new idea is going to yield the expected business outcome. This gap resulted in wasted resources and made businesses stuck on the red ocean.
This is why we have structured design workshops. If you want to discover new opportunities using customer problems, validate blue ocean strategy ideas, answer basic assumptions, or even decide on which direction to go, we have workshops that can help you solve those problems. Some of them are Rapid Ideation Workshop, Design Sprint, Design Studio Session, Strategy Sprint, Alignment Workshop, and many more.
If you already have an idea to test or you just want to explore innovation oportunities for your business, feel free to esend us a message.