- The Offering is a multi-dimensional vector of factors like price, features, service, branding and so forth. The vector of the offering is known as a Strategy Curve in the Blue Ocean Strategy (BOS) methodology.
- Customer buying decision is both rational and emotional. The encounter brings an experience. Frequent pleasant experience causes Engagement and brings Loyalty, Customer Profitability and Lifetime value.
- We must segment our market so that we can address the customers needs better. Segment tends to be done through demographics like sex, age, incomes, etc. A more precision and effective approach is by the 'task' or 'job' performed. e.g. washing machine for the housewives, Visical for the business manager or accountants etc.
- The values that Customers desire have moved from Rational, Emotional into Human Values and Significance. Customers may pay more for a product that is 'sustainable' - ie. protect the environment in its manufacturing and use.
We also discussed the need for Re-positioning, using Blockbuster (VRC Rental), Netflix ( Internet DVD Rental) , and Video-on-Demand and Apple iPod as an example of how the market shifted with technology changes.
Finally, we discussed Customer Relationship, see point 2 above.
About 10 people came together for the Seminar. The overall rating was 90% with Length of talk scoring 100%, followed by Subject area coverage, Tech Level, Speaker Knowledge at 94%, and lowest Time of Talk at 80%. The feedbacks were:
- Application and example
- About the chart comparison of various circus
- Blue Ocean Strategy & Application in real life example eg Google
- Red Ocean and Blue Ocean Strategy
- should use some pictures or logos to capture our vision while showing so we can enjoy the session more
- Is it possible to take this seminar as a case study - how to market to more people - through email to other churches, advertisement …