Blue Ocean Strategy–W. Chan Kim, Renée Mauborgne on competition and alternative markets
Most business books focus on beating the competition. Blue Ocean Strategy (Harvard Business School Press, 2005) focuses on breaking out of red oceans of competition, creating new markets instead. Here are some ways to find alternative markets: alternative industries, strategic groups, buyers, complementary product and service offerings, functional/emotional appeal, time.
Click on the image for a larger version of the sketchnote.
Blue Ocean Strategy is a good book for established companies that are finding it challenging to differentiate themselves, but it’s also a good read for companies that are starting out and who are looking for their unique selling propositions (USPs).