Blue Ocean Strategy or, in Portuguese, Blue Ocean Strategy is a way of detecting and exploring new markets free of competitors and, therefore, with high profit margins. Is it possible to use it to develop e-commerce companies? We'll see!
Before approaching the subject, however, I need to inform you that this concept was described in the book “The Blue Ocean Strategy: How to Create New Markets and Make Competition Irrelevant” (2005). This work was produced by Korean W. Chan Kim in collaboration with North American Renée Mauborgne based on a study of 150 companies.
The companies analyzed by the two professors from the Institut Européen d'Administration des Affaires (INSEAD) actually took ten years to complete. They spanned 30 different business sectors over a span of 100 years.
Get, in this article, a basic knowledge about the application of Blue Ocean. Discover the advantages of designing your e-commerce according to this strategy. Consider whether it might even be possible to create an e-commerce without competitors. Forward!
Access and read the article " E-commerce Strategy " as well. Learn how to align sales goals based on your company's "Vision".
WHY “BLUE OCEAN STRATEGY”?
The authors of the aforementioned book, Kim and Mauborgne, carry out in their study a comparison between two business scenarios, they are:
- the red ocean:
In this scenario, companies are vessels in a sea (market) full of competitors. The red color is an allusion to the blood spilled in battles between rival companies. The result of this is an environment with low profits due to high competitiveness.
- the blue ocean:
There are no battles here, as there are no competitors in the market. The absence of rivals, however, is not by chance. It was generated through innovation, that is, by opening a market that has not yet been explored. It is an environment with low competitiveness and high profits.
A Blue Ocean Strategy, therefore, is one that allows you to analyze the market and create new gaps, in which it is possible to act without the presence of competitors. The implementation of this strategy occurs in four steps, see below.
STEPS FOR IMPLEMENTATION OF BLUE OCEAN
To implement the Blue Ocean Strategy in a ready-to-go or developing business, consider these four steps that involve:
01 – The visual awakening:
Analysis of the strengths and weaknesses of your company and competitors. Indeed, through this practice it is possible to recognize what has the potential to be optimized.
02 – The visual exploration:
Analysis (field) to understand how consumers use your company's products and to discover what can be innovated to meet unmet needs.
03 – The strategic visualization:
It is the creation and voting of value propositions based on the studies carried out in the first two stages. The winning proposal moves on to the next phase.
04 – Visual communication:
Finally, a one-page visual plan is created with the winning value proposition. This, in turn, is presented to the people who will have to carry out the project.
To learn about and use this strategy, I recommend reading the book and also visiting the related website. Take advantage of this opportunity and click on “ Blue Ocean Tools ” to access the official page of tools for applying Blue Ocean to your e-commerce business.
ADVANTAGES AND POSSIBILITIES OF APPLICATION IN E-COMMERCE
The Blue Ocean Strategy has been used by large companies around the world such as NetFlix, Cirque du Soleil, Uber, Apple and YouTube. Of course, she can also be employed in e-commerce.
Some say that this strategy is utopian or inapplicable. However, it can at least help you to better see your field of activity in e-commerce. In this way, you will be able to create and/or fill more profitable market spaces and optimize your business.
Imagine having a virtual store with Design, usability, differentiated products and services, in a beautiful, calm and profitable Blue Ocean? Well, this has happened to many companies, why couldn't it also happen to yours?
Access and read the article " E-commerce Layout " as well. Learn how to think about and create your online store with an original and unique design (from the inside out) that is fully aligned with the Blue Ocean Strategy.
