From Exceptional Utility to Getting Your Price Right

From Exceptional Utility to Getting Your Price Right

Blue Ocean Articles, Strategic Planning
Revenue streams are a function of transactions. In most cases, more transactions lead to more revenue. Today, we are going to move from exceptional utility to getting your price right. Getting your price right is a process in blue ocean thinking. We have discussed the sequences around product design in blue ocean terms. We have covered the importance of developing the AS-IS Strategy canvas and distinguishing your offering from that of your competition's. Review these topics if desired here. Reconstructing Boundaries with the Six Paths Framework Focus on the Big Picture and Not the Numbers Finding Markets from Non Customers Implementation of Blue Ocean Strategy  Most companies think that an analysis of competitor pricing is the determining factor in pricing their offering. They fall for the red ocean trap of…
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My top four Fiverr contractors

My top four Fiverr contractors

Blue Ocean Articles
My top four Fiverr contractors deserve a Blue Ocean Strategist shout out. As you'll see, the entire Fiverr platform is a Blue Ocean Strategy success story. Why? Value Innovation Value innovation is the key sign that new markets exist and a company is about to capture that new market space. In the case of Fiverr, new markets for creators, coders, strategists, writers, editors, database pros, web builders, videographers and more have been created. As a result, some of these offerings by "Sellers" in the Fiverr platform have lead to disruptive innovation in those spaces. More traditional creators have had to adjust, niche down, or become more competitive. Not all Fiverr sellers are top flight. Admittedly, some communication issues pop up.  There are language barriers, and technology hurdles at times. However,…
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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 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. 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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