uncontested market space - why high tech vendors must find it
TRANSCRIPT
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Where big players devour
small ones.
The red is blood
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In high tech markets you must find it –
or you’ll be someone’s breakfast
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• It doesn’t matter how small you are who your
competitors are
• What matters is that your technology is
demonstrably superior
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‘ … a closer look reveals that most
[companies’] plans don’t contain a
strategy at all but rather a smorgasbord
of tactics that individually make sense
but collectively don’t add up to a unified,
clear direction that sets a company
apart—let alone makes the competition
irrelevant.’
W. Chan Kim
Co-author of
Blue Ocean Strategy:
How To Create
Uncontested Market
Space And Make The
Competition Irrelevant
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In the 1990s Apple lost the PC market
to Microsoft
By 1996 Apple was praying for a saviour
to rescue it
By then, Microsoft had a virtual
monopoly of the PC market
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Defined a new market for cool, small devices – iPod
Created a new revenue stream with iTunes
Expanded the new market with iPhone & iPad
Created a second revenue stream with App Store
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20 years ago IVR (Interactive Voice Response) was:
New, custom-built & expensive
By contrast, RapidCall* was:
Off-the-shelf but easily customised
Feature-rich but easy to deploy
Advanced but affordable
*We’ve changed the name at the request of the client
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• Highly profitable
• Huge customer base
• Well-established need
• Clear business benefits
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• Targeted by every global IVR vendor
• Risk Averse: won’t buy from small/local
• Easy to deploy: not necessary
• Price not an obstacle*
* To them cost effective = too cheap
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Not targeted by global vendors
>200 credit unions in Australia and NZ (then)
Value for money very important
Easy deployment, low maintenance = highly
attractive
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• National association
• Close-knit community
• CEOs know each other
• Selling by word-of-mouth
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RapidCall ended up with:
90% of the credit union market
A satisfied, loyal, unshakable
customer base
A market impervious to
competitors for 10 years
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Once you own it, selling new products to it is easier &
cheaper
Acquisition and maintenance costs are lower = more profitable
Competitors can’t get in
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Blue Ocean Strategy: How To
Create Uncontested Market Space
And Make The Competition
Irrelevant by W. Chan
Kim and Renee Mauborgne
Uncontested Market Space – full
post on Technoledge blog
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