Price Corridor (Blue Ocean Strategy) – What Is It? What Price?

Price Corridor (Blue Ocean Strategy) – What Is It? What Price?

Now that you’ve figured out an offering that offers superior utility to the customer, you need to figure out how to price it. How much should you charge for your blue ocean strategy product?

Blue Ocean Strategy recommends using the price corridor, a way to maximize the success of your strategy. What is a price corridor, and how does it depend on your business? Learn more here.

Innovation Sandbox – What Is It? How Do You Succeed?

Innovation Sandbox – What Is It? How Do You Succeed?

The final substantive chapter of Lean Startup discusses innovation in a large company and internal startups, in the form of an innovation sandbox.

If growth is your goal and you achieve it, you’ll keep growing your startup to 10, 100, 1,000 people. How do you keep innovating to grow new lines of business while keeping existing products competitive? How do you prevent yourself from being bogged down by process?

What is a Red Ocean Strategy?

What is a Red Ocean Strategy?

Much of business strategy in the past few decades has focused on competition, including Michael Porter’s five forces and SWOT analysis. In these red oceans, market structures are known, and companies try to outperform rivals to grab share of existing demand.

Over time, markets become crowded, products become commodities competing on price, and profits dissipate. This trend is aggravated by technological improvements that allow incredible creation of supply that can outstrip demand, causing further price competition.