W. Chan Kim, Renée Mauborgne, Mi Ji
For the past three decades, the business mantra has been “customer first.” Yet focusing on retaining and expanding an existing customer base often results in finer segmentation and the greater tailoring of offerings to better meet customer preferences, which will likely lead companies into too-small target markets of an existing industry.
The blue ocean strategist’s mantra is “noncustomers first.” By looking to noncustomers and building on … [ Read more ]
Content: Quotation | Authors: Mi Ji, Renée Mauborgne, W. Chan Kim | Source: INSEAD Knowledge | Subjects: Customer Related, Marketing / Sales, Strategy
How to Create Your Blue Ocean Through Noncustomer Analysis
Adopting a blue ocean perspective can allow you to reach beyond your existing industry’s customers.
Content: Article | Authors: Mi Ji, Renée Mauborgne, W. Chan Kim | Source: INSEAD Knowledge | Subject: Strategy