Blue Ocean Strategy
Startup development
Unlock untapped demand from noncustomers
from Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant by W. Chan Kim
How to Apply This
- ** Identify the key reasons noncustomers want to jump ship and leave your industry.**
Look for the commonalities across their responses and focus on those, instead of their differences. - ** Unleash an ocean of latent untapped demand through your noncustomers' commonalities.**
Analyze the commonalities to understand how to unlock and aggregate untapped demand. Then, create a product or service that meets the needs of these noncustomers. - ** Create a value offering that eliminates the key reasons for refusal.**
Offer something that is of value to the noncustomers, such as free products and services, in exchange for exclusive rights to display advertisements.
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