Using Consumer Problems To Find Blue Oceans

Using Consumer Problems To Find Blue Oceans

Market growth strategies categorize strategies on the basis of overlap between consumer needs, competitor offerings, and the brands’ competencies. Red ocean strategy and blue ocean strategy are two types of market growth strategies that subdivide growth strategies based on which tactic is to be used (e.g., pricing, promotion, distribution, product).

Blue ocean

The blue area, representing what Kim and Mouborgne refer to as blue ocean, is the space where your competencies allow you to solve consumers’ problems that your competition either cannot solve or is not currently addressing.

Companies like Uber and Lyft have moved into such waters for local transportation problems

They have been tremendously successful due to a lack of competition for consumers who, until now, have had no viable solution in the space for them

The Bottom Line

Even in the most saturated markets, consumers are still seeking innovations that will solve their currently unsolved problems

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