What Color is Your Market? | Travel Research Online


What Color is Your Market?

This may sound like a strange question, so I will give you a hint. Your only two choices are red or blue. Today’s article originates from a book by the name of Blue Ocean Strategy by W. Chan Kim and Renee Mauborgne.

Allow me to explain. A “red” ocean is the term used to describe a heavily populated and competitive marketplace. You can envision it as a bevy of sharks swimming around an attractive dinner target. The result is mayhem in motion as they fight and claw for a piece of the action. In short order it gets very bloody and even the victors don’t look like they are having much fun.

A “blue” ocean on the other hand appears to be calm and tranquil. Nobody is swimming in circles churning up the surface. You can envision a placid environment with maybe a stray ripple now and then.

Chances are you are running your business entrenched in a red ocean. You are fighting for position, and often times a price war is the only maneuver you know of to get your share of the pie.

But if you offered a service that nobody else offered, you would be a choice of “one.”

You would stand out as something “special,” since it would appear you had no competition.

So, the choice is yours. Do you want to get roughed up and get your hands dirty in a red market, or sail smoothly in an unruffled blue market where you rule as “king?”

The answer is obvious but not so easy to come by. It involves a little thought on your part and perhaps a bit of brainstorming with a few close associates. The time and effort you put into this process will be well-worth the time. Think “blue.”

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Mike Marchev

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