by Guest Writer Suzie Cheel
Des emerged yesterday morning only just awake saying “I have a great idea- I’ll tell you at the beach!”
As we walked down to the water’s edge, Des began to talk about his idea and related it to
the book, Blue Ocean Strategy: How to Create Uncontested Market Space and make the Competition Irrelevant by W. C. Chan and Renee Mauborgne
He then decided to illustrate this by drawing how he sees red ocean / blue ocean in the sand.
The beach is such a great place for seminars!
Des was saying at this time of global economic anxiety, instead of trying to compete harder in the Red Oceans of existing market focus we should look for or create Blue Oceans of new opportunity.
An example from the Blue ocean strategy book is how Yellow Tail wines, from an until then little-known company Casella Wines, took the American alcoholic beverages market by storm.They did this precisely, not by competing with powerful, entrenched wine companies, but by way of a market strategy which targeted people the US wine companies had ignored or neglected.
His example of a Red Ocean (red because of blood in the water) was where so many many people selling services in the social media field target younger audiences, the growing market of baby boomers using social media is not being similarly targeted.
What is your blue ocean strategy?
