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The Blue Ocean Strategy is a business theory that suggests companies are better off searching for ways to play in uncontested market spaces (Blue Oceans) rather than engaging with competition in existing market spaces (Red Oceans). It can be used in competitive analysis by identifying potential areas of the market that are untapped or less competitive, and then developing strategies to exploit these areas. This could involve creating a unique product or service, targeting a different customer segment, or changing the delivery method of a product or service.
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Execs need competitive analysis to get outside of what they think they're good at or what their competitors to do and switch course and pivot as they see areas of weakness in competitors for you to act on. Pivot in terms of technical changes or pivot in terms of brand image or brand positioning. No matter what you do, you feel if they actually need to give a presentation on your findings, the second half of the deck is great for that. With this explainer, you'll learn how top companies like McDonald's, Apple, Robinhood, and Netflix use competitive analysis to be at the top of their industry.
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Do you feel trapped to outdo competitors? Better strategies can build a stronger defense against competition and generate higher ROI on your strategic...
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