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April 9, 2007 by jack petrie.
I recently read and enjoyed W. Chan Kim and Renee Mauborgne’s “Blue Ocean Strategies”. In this book the authors introduce the concept of companies moving away from the value curve of their competitors (the “red ocean”) and creating new, differentiated, customer-driven value curves, or “blue oceans”.
Kim and Mauborgne cite many well-known examples of innovative companies creating new markets: Bloomberg, Callaway, Cirque du Soleil, Curves, NetJets, Novo Nordisk, NTT DoCoMo, Pret A Manger, Southwest Airlines, Starbucks, Swatch, [yellow tail] wine. The key similarity among all of these firms product offering is a broad, customer-focused offering that emphasizes ease of use, fun and an enhanced customer experience.
Commercial Real Estate occupiers are ready for a similar renaissance in their user experience. Imagine if, instead of the standard service provider puffery about market knowledge, “deals” completed, process charts and the obligatory client “logo page”; an innovative service provider were to offer the following (in no particular order):
In Kim and Mauborgne’s process, such an offering would have a greater opportunity to relocate the refusing and unexplored “noncustomers” into a “blue ocean” of service differentiation, increased market share and ultimately, business success.
I sense this topic will become a recurring theme in future posts…
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