To create new markets or new product categories, you should look into product substitutes and alternatives solutions within your industry
What are the alternative industries to your industry? Why do customers trade across them? By focusing on the key factors that lead buyers to trade across alternative industries and eliminating or reducing everything else, you can create a blue ocean of new market space.
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Any goal can be pursued in a variety of ways. It is the job of strategy to choose the most effective course of action for attaining objectives.
Whether a small or an ambitious one, projects which do not have enough ressources allocated are bound to fail
I wanted my team to understand that strategy is disciplined thinking that requires tough choices and is all about winning. Grow or grow faster is not a strategy. Build market share is not a strategy. Ten percent or greater earnings-per-share growth is not a strategy. Beat XYZ competitor is not a strategy. A strategy is a coordinated and integrated set of where-to-play, how-to-win, core capability, and management system choices that uniquely meet a consumer’s needs, thereby creating competitive advantage and superior value for a business.
Strategy is a way to win—and nothing less.
