Blue Ocean Strategy Assessment : 6 Paths

Alternative Industries

When alternative industries provide a different ‘means’ to the same ‘end’ for your buyers, you should map out the key factors that lead buyers to trade across those alternative industries. Elevate the most critical factors, create new value-add factors and eliminate or reduce all other factors to create a Blue Ocean of new market space.

When developing strategy for your product or services, do you assess alternative industries to yours?

You focus entirely on rivals within your own industry

You actively assess alternative industries to yours

Strategic Group

Most companies focus on improving their competitive position within a strategic group E.g. Luxury vs Economy. To develop a Blue Ocean strategy you should understand which factors determine your customers decisions to trade up or down from one strategic group to another.

When developing strategy for your product or services, do you assess other strategic groups (E.g. Luxury vs Economy) within your industry?

You focus on your competitive position within a set strategic group

You actively assess strategic groups across your industry

Buyer Group

Competitors typically converge around a common target buyer. However, there is a chain of "buyers" who are directly or indirectly involved in the buying decision. These buyer groups could hold different views on the value proposition of your product or service. If you shifted the buyer group of your industry, you could unlock new value!

When developing strategy for your product or services, do you assess the entire chain of buyers that are directly or indirectly involved in the buying decision?

You focus on better serving the established buyer group

You redefine your industry's buyer group

Scope of Product or Service Offering

Untapped value is often hidden in complementary products and services. The key is to define the total solution buyers seek when they choose a product or service. A simple way to do so is to think about what happens before, during, and after your product or service is used.

When developing strategy for your product or services, do you assess complementary offerings that would typically be considered outside of your industrys scope?

You focus on maximizing the value of your product and service offerings within the typical bounds of your industry

You actively assess complementary product and service offerings outside of your industry's typical scope

Functional - Emotional Orientation

The appeal of most products or services are governed by its matter-of-fact functional attributes or by evoking an emotional response from the buyer. When companies are willing to challenge the functional-emotional branding, they often find new market space.

When developing your branding, do you primarily focus on functional or emotional appeal to buyers?

You focus on driving forward the established functional or emotional brand appeal to buyers

You rethink the functional-emotional brand appeal to buyers

Trends Over Time

How will a persistent trend change value to your customers and impact your company's business model? As you look to future product / service development, question whether your efforts will actively shape your industry trends or will simply follow suit after the trendsetters.

How do you evaluate industry trends over time?

You focus on adapting to external trends as they occur

You participate in shaping external trends over time

Personal Data

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