The outside of a business can be thought of as its "picture" - drawn by top managers and owners. Though this belief that every company is different, in fact, many businesses act very similarly with their own personalised pictures drawn on the side.
Most companies have images that are defined through leadership roles such as owner or CEO; however, there's also an element about what they stand for beyond just profit-maximizing: protecting customers' best interests (or at least trying) while creating jobs within the community.
The grocery industry is one of the most competitive industries in many countries. In order to compete, many major players try and beat their counterparts by offering more or different things from what they offer - but this isn't always successful.
The Blue Ocean Strategy allows businesses to take advantage of uncharted territory by creating new strategies and areas that their competitors do not offer. This helps them understand where they currently stand in the industry, as well as how changing over would change things up for themselves without any competition from other brands or companies vying for attention.
ALDI Australia is a newcomer in the Australian market, compared to major players like Coles, Woolworth or IGA, but they made an impressively successful debut. They are different from other supermarkets because of their outstandingly creative strategy by Blue Ocean Strategy Canvas principles which makes them stand apart among competitors within this saturated industry.
The Blue Ocean Strategy is about creating new possibilities in an industry where others are already competing. This technique has been used by many successful companies, such as Nike and Google with their respective industries of sports apparel or digital advertising respectively; both were able to distinguish themselves from competitors through innovative strategies that created space for growth where others had none left available.
ALDI has had success by focusing on Convenience. It is much easier and cheaper to shop at ALD than at Coles or Woolworths because they only have much fewer brands that people can find everything in meaning it is easier and faster shopping.
The principles of Blue Ocean Strategy are about creating a strategy that offers your customers something they don't already have. This means focusing on items on the canvas and removing those with little or no value for them, which will lead the business to success as well.
In order to be successful in today's competitive business world, it is important for companies not just to spend big bucks but also to use their creativity. There are many ways that one can go about achieving this goal, and implementing the Blue Ocean Strategy is certainly one of them.
Comments