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How can you use blue ocean strategy to position your brand?

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Blue ocean strategy is a powerful framework for creating and capturing new markets by offering unique value to customers. It challenges the conventional wisdom of competing in existing, crowded, and often shrinking markets, where brands fight for differentiation and market share. Instead, it proposes that brands can create their own blue oceans of uncontested space, where they can deliver superior value and profitability. In this article, you will learn how you can use blue ocean strategy to position your brand in a way that stands out from the competition and attracts loyal customers.

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Rishabh Madan

Ex Marketing Specialist at Valmet | Ex-Exide Marketing Manager | Brand Strategy & Management | Digital Marketing |…

1 What is blue ocean strategy?

Blue ocean strategy is based on the idea that there are two types of markets: red oceans and blue oceans. Red oceans are the existing markets, where brands compete on similar attributes, features, and prices, and where the boundaries and rules of the game are well defined. Blue oceans are the new markets, where brands create and satisfy new customer needs, and where the boundaries and rules of the game are yet to be established. Blue ocean strategy suggests that brands can achieve higher growth and profitability by creating blue oceans, rather than competing in red oceans.

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Vincent Burruano

Sales and Business Success Coach | Sales Trainer | Leadership and Talent Development | Mentor | Author | Speaker | Practical Sales Wisdom | Sales Advice | Commercial Relocation, Logistics, and Mobility Advisor
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Your current clients can offer great insights into how you can better serve them and take advantage of a blue ocean strategy. Ask them what other services you could provide to make their life easier. Perhaps they are struggling with other vendors who are unable to deliver the great experience you consistently offer. Maybe what they need is a little outside your current offering, but well within your capabilities. This is a great way to explore new opportunities while strengthening existing relationships.

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Anya Dayson

Marketing Strategist and Consultant | MSc | MCIM Expert in strategy, digital marketing and coaching for retailers, charities, manufacturers and e-commerce businesses.
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A blue ocean strategy can be developed by understanding the wants, needs and habits of current and potential customers. A strong understanding of the customer, the current red ocean market and the opportunities available allows for a blue ocean strategy to be developed. This can then deliver an anticipated product / service solution which the customer doesn't even know they wanted / needed. It is likely they would never have told you they needed it. It is left to your business as the innovator to identify opportunities and take risks. Innovation is the key here.

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2 How to create a blue ocean for your brand?

To create a blue ocean for your brand, you need to follow four steps: eliminate, reduce, raise, and create. These steps help you identify and eliminate the factors that your industry takes for granted, reduce the factors that are not essential for your customers, raise the factors that are important for your customers, and create new factors that your industry has never offered. By doing so, you can create a value innovation, which is the combination of high value and low cost, that differentiates your brand from the competition and appeals to new customers.

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Rishabh Madan

Ex Marketing Specialist at Valmet | Ex-Exide Marketing Manager | Brand Strategy & Management | Digital Marketing | Marketing Automation | SEO SEM SMM | Brand Building | Go-to-Market Launch Plans
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I support this methodology of creation of blue ocean for a brand. To explain further let me share an instance, consider a smartphone company aiming to create a blue ocean. They might eliminate certain features that are considered standard but not crucial for users, like excessive pre-installed apps. By reducing the phone's weight and thickness, they cater to consumers seeking sleek and lightweight devices. To raise the value, they could offer exceptional battery life, addressing a common pain point. Lastly, they could create a new feature like a built-in health monitor, differentiating themselves from competitors.

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3 How to use the strategy canvas to visualize your brand position?

The strategy canvas is a tool that helps you visualize your brand position in relation to your competitors and your customers. It consists of two axes: the horizontal axis represents the factors that your industry competes on, and the vertical axis represents the level of offering on each factor. To use the strategy canvas, you need to plot the value curves of your brand and your competitors, and compare them. The value curve is a graphical representation of how your brand performs on each factor. The goal is to create a value curve that diverges from your competitors and creates a blue ocean.

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Rishabh Madan

Ex Marketing Specialist at Valmet | Ex-Exide Marketing Manager | Brand Strategy & Management | Digital Marketing | Marketing Automation | SEO SEM SMM | Brand Building | Go-to-Market Launch Plans
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Utilizing the strategy canvas to visualize your brand's position is a strategic move that provides clarity in a cluttered marketplace Imagine an online streaming service using the strategy canvas. They might identify factors like content variety, user interface, and pricing as critical in their industry. By plotting their value curve, they could see that their content variety is on par, UI is slightly below competitors, and pricing is higher. To create a blue ocean, they could invest in exclusive content (raise factor), simplify navigation (raise UI), and introduce a more affordable tier (reduce pricing). Visualizing these changes on the strategy canvas allows them to pivot strategically and visualize the new market space they're creating.

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4 How to use the four actions framework to formulate your brand strategy?

The four actions framework is a tool that helps you formulate your brand strategy based on the four steps of creating a blue ocean: eliminate, reduce, raise, and create. It consists of four questions that guide you to rethink your value proposition and your target market. The questions are: what factors can you eliminate that your industry has long competed on? What factors can you reduce well below the industry standard? What factors can you raise well above the industry standard? What factors can you create that your industry has never offered? By answering these questions, you can develop a compelling brand strategy that creates a blue ocean.

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5 How to test and refine your blue ocean idea?

Before launching your blue ocean idea, you need to test and refine it to ensure that it is viable and desirable. You can use three criteria to evaluate your idea: utility, price, and cost. Utility refers to the degree to which your idea solves a customer problem or fulfills a customer need. Price refers to the level of affordability and attractiveness of your idea for your customers. Cost refers to the level of feasibility and profitability of your idea for your brand. You can use tools such as the buyer utility map, the price corridor of the mass, and the business model guide to test and refine your idea along these criteria.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you use blue ocean strategy to position your brand?

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1 What is blue ocean strategy?

2 How to create a blue ocean for your brand?

3 How to use the strategy canvas to visualize your brand position?

4 How to use the four actions framework to formulate your brand strategy?

5 How to test and refine your blue ocean idea?

6 Here’s what else to consider

Brand Management

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How can you use blue ocean strategy to position your brand?

1

2

3

4

5

6

1 What is blue ocean strategy?

2 How to create a blue ocean for your brand?

3 How to use the strategy canvas to visualize your brand position?

4 How to use the four actions framework to formulate your brand strategy?

5 How to test and refine your blue ocean idea?

6 Here’s what else to consider

Brand Management

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