Blue Ocean Strategies
W. Chan Kim, Renee Mauborgne
ISBN: 1591396190 EAN: 9781591396192
This was a pivotal read for me.
It outlines a number of case studies where new companies have entered mature (and often stagnent) markets and have created uncontested market spaces which jave completely transformed that market.
For example they highlight the traditional Circus market Cirque du Soleil entered.
- Low customer price expectation (typically $10-$20 a seat)
- High costs (high staff costs, travel costs, setup of tents, care of animals)
- Effect of animal right activists on the customers perception of circus
Cirque du Soleil turned the experience into a theatrical show, provided theatre quality surroundings and content, charged theatre prices and are unlikely to be able to directly challenged.
Another example was Australian winemaker, Yellow Tail who wanted to enter the uS wine market. The US ,arket was awash with premium US and Imported wines all viaing for the wine connoisseur pallette.
Yellow Tail produced a single red and white wine blend that was aimed at the beer drinker, rather than the connoisseur.
A must read.
View this book for sale on Fishpond.co.nz
