From product development to pricing. Irresistible pricing doesn’t mean the lowest.

From product development to pricing. Irresistible pricing doesn’t mean the lowest.

Blue Ocean Articles
After the last several posts, I shared significant information and examples about measuring and determining buyer experiences through use of the Buyer Utility Map. After you've asked the important questions about how buyers experience your product or service, you're now ready to do the work of pricing your product or service. Blue Ocean Strategists often use a tool to assist in strategic pricing of a product or service. The tool assist product managers and strategists find the right price for that hard fought innovation. Often times, it is not the lowest price. When you launch or innovate into blue ocean waters, price pressures are not a common problem. There are two steps in the tool's use. Step One: Identify the Price Corridor of the Target Mass Sounds confusing but it…
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Redefine and then solve  industry problems.

Redefine and then solve industry problems.

As-Is Strategy, Blue Ocean Articles
There has been no better time to identify new problems for brands and companies than in recent months. With over 20 million jobs lost in the US and the globe on some measure of "stay at home" order, the rules of most marketing games have changed. I am Co-Founder of a company that built a wonderful technology allowing brands in the spirits, wine, and beer industries to associate marketing spends through our agency. Its primary function was/is to be a "Venmo for Cocktails" so to speak. The cool feature that is game changing is our ability to put drink credits into the accounts of brand ambassadors for them to share with others. Sounds cool. As of March 2020, it's largely irrelevant. Not for sure how long but it will be…
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You’ve made a mistake in your work. Your recovery process has to be thought out.

You’ve made a mistake in your work. Your recovery process has to be thought out.

Blue Ocean Articles
recovery noun [ C/U ] US  /rɪˈkʌv·ə·ri/ the act or process of getting better; improvement: [ U ] The economy is showing signs of recovery. [ U ] The story deals with the recovery of (= getting back) stolen jewelry. (Definition of recovery from the Cambridge Academic Content Dictionary © Cambridge University Press) A proper recovery process is imperative to my operation. Why? Because I'm human and I screw up sometimes. During the course of any operation in any business, it is safe to assume that either you or someone employed by you will make a mistake that cost your company money, time, or both. What processes and procedures to you have in place to bring consistency to the recovery process? I have some guidelines that over the years have proven extremely helpful in getting tough issues diffused if not totally resolved. Step One: Manage expectations properly. You have to set the proper tone and time frame for delivery prior…
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“Give me a LEVER long enough and a fulcrum on which to place it, and I shall move the world.” Archimedes

“Give me a LEVER long enough and a fulcrum on which to place it, and I shall move the world.” Archimedes

Blue Ocean Articles, Buyer Utility Maps
Archimedes of Syracuse (Greek: Ἀρχιμήδης; c. 287 BC – c. 212 BC) was a Greek mathematician, physicist, engineer, inventor, and astronomer. Although a few details of his life are known, he is regarded as one of the leading scientists in classical antiquity. Among his advances in physics are the foundations of hydrostatics, statics and an explanation of the principle of the lever. He is credited with designing innovative machines, including siege machines and the screw pump that bears his name. What might Archimedes and his work have to do with Blue Ocean Strategy and Blue Ocean Shift? It's all about his lever. We've spent the last six posts breaking down and sharing examples of the Buyer Experience Cycle and its six stages. Click any one of the hot links below…
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The Six Stages of the Buyer Experience Cycle. Stage Six is Disposal.

The Six Stages of the Buyer Experience Cycle. Stage Six is Disposal.

Blue Ocean Articles, Buyer Utility Maps
Disposal. This is a huge stage in the buyer experience cycle. Today, more than ever, how your product is disposed of after use or whether or not it creates waste or by-products is extremely important. Let's take a quick look again at the preceding components or stages of the Buyer Experience Cycle. Click each link to see the post written associated with that stage if you wish to review. Purchase -> Delivery -> Use -> Supplements -> Maintenance The grid used in Blue Ocean Strategy work associated with the Buyer Experience Cycle and its associated levers is call the Buyer Utility Map. The Buyer Utility Map features the six stages we've discussed in this series of posts on the horizontal axis. On the vertical axis we see what are called…
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The Six Stages of the Buyer Experience Cycle. Stage Five is Maintenance.

The Six Stages of the Buyer Experience Cycle. Stage Five is Maintenance.

Blue Ocean Articles, Buyer Utility Maps
We've been discussing the buyer experience cycle from a blue ocean strategy perspective in this series. As a quick review, the six stages of the buyer experience cycle are Purchase - Delivery - Use - Supplements - Maintenance - Disposal. Today's stage is Maintenance. We're all familiar with purchasing something and then having to maintain it or paying the price if we don't. In a blue ocean strategy context we view these buyer experience cycle stages as a way to gauge how these stages affect buyer utility. When you use these stages as factors on a horizontal scale and what are called levers, on a vertical scale, you end up with a Buyer Utility Map. Those of you that have been following along have seen this image in each post.…
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The Six Stages of the Buyer Experience Cycle. Stage Four is Supplements.

The Six Stages of the Buyer Experience Cycle. Stage Four is Supplements.

Blue Ocean Articles, Buyer Utility Maps
Supplements. It's a loaded word with lots of applications. In the context of our business discussion today, we are going to stick solely with a narrowly defined meaning. When your customers buy your product or service, are they required to, or is it helpful for them to buy something in addition to what you have sold them? For example, my wife recently purchased a car. It had beautiful carpet on the floors and we didn't wish to destroy it with heel marks, grime, moisture, etc. We bought after-market floor mats custom sized to fit the vehicle, thereby protecting the carpet. This is a supplement. Simply stated, it is a product or service that is supplemental to your product or service. Most of you have thought of these issues. However, most…
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The Six Stages of the Buyer Experience Cycle. Stage Three is Use.

The Six Stages of the Buyer Experience Cycle. Stage Three is Use.

Blue Ocean Articles, Buyer Utility Maps
How a customer uses your company's offering, whether it's a product or service is massively important. I know this seems intuitive but allow for a moment's thought here. How often have you bought that piece of furniture from Ikea, Target, or, Wayfair and realized, "Wow, there are a lot of parts here." It is still a delightful surprise when you open a box of any kind and experience things just coming together. You know, when things are well explained and easy. Translate this to an online offering. I build WordPress sites. I'm not a coder but have built 50 or so over the course of time. There are occasions where you utilize a Theme, the skin that rides over the Wordpress software architecture allowing for design and functionality. When these…
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The Six Stages of the Buyer Experience Cycle. Stage Two. The Delivery.

The Six Stages of the Buyer Experience Cycle. Stage Two. The Delivery.

Blue Ocean Articles, Buyer Utility Maps
In this series we're unpacking the Blue Ocean Strategy Buyer Experience Cycle. We are discussing how our new realities are requiring a systematic approach to unlocking value by reassessing how the customer experience looks through the entire buyer experience cycle. In review, there are six stages of the buyer cycle. These are measured against six levers on a vertical axis. Today, we cover stage two in the buyer experience cycle, delivery. We are encouraging you to carefully ask what are the blockages to the delivery of your product or service to your customers. The consumer package goods market has undergone transformation in the last few years and it is being accelerated and stressed at the moment. When you think of your product or service, what is the customer's experience when…
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The Six Stages of the Buyer Experience Cycle. More Important Now than Ever. Stage One.

The Six Stages of the Buyer Experience Cycle. More Important Now than Ever. Stage One.

Blue Ocean Articles, Buyer Utility Maps
In the launch post of this series, I shared the importance of testing for exceptional utility. The reason this is so important is simple. Many industries, most in fact, will have to reassess how customers are experiencing the product or service offered. The safety of customers, clients, employees, staff and more will all become a first consideration. All liability for that safety will rest on how the buyer experience is planned, implemented, and monitored. It is imperative that companies assess these factors. The greatest blocks to buyer utility often represent the greatest and most pressing opportunities to unlock exceptional value. Building value and value innovation that naturally follows is what leads to blue oceans of uncontested market space. The buyer experience defined: It is summed up as the entirety of…
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