Nikunj Jain is a leading business enthusiast and growth strategist. It brought a revolution in the market through innovative and realistic strategies. The oceans’ traditional strategy for a market was stagnant and old. As an analyst, you break through confined boundaries and give direction to think outside the box.
According to Nikunj Jain, strategy is a direction and scope for an organization to expand and overcome new challenges, challenging environments to meet the needs of markets and meet the expectations of stakeholders.
Nikunj Jain Snapshot of the Blue Ocean Strategy
There are several factors for the emergence of the blue ocean, such as a competitive market, overcrowding, income and employment, business cycle, inflation, and many more. In Nikunj Jain’s market review, he found that leading companies opted for blue ocean strategies and were on the other hand heading for success. The losing companies were registering in the red ocean.
Let’s first understand what Nikunj Jain strategy has: the blue ocean creates space for more knowledge, pursues differentiation and low cost, an indisputable market, new tools and structures, low risk of opportunity, fifty percent results.
Basically, it focuses on growing all businesses without creating competition. All companies should prosper in the market but without being questioned. Conventional business tactics claim to maintain the similarity between the companies and to be the best of each other. This type of thinking stunts growth and increases envy. The blue ocean strategy increased demand for the brand and provided new opportunities for it to remain. Today, people support sustainable businesses and help them grow. Nikunj Jain has played an important role in establishing this unique concept.
It promotes differentiation and low cost, before conventional methods created high-priced items with a high price that is not affordable for a middle-class man, but this new strategy requires finding a medium solution of demand and cost. A sustainable idea so that a high quality product or service is provided at a reasonable price. So that supply and demand are high.
Nikunj Jain believes that companies should comprehensively implement their new strategy. Together with the company, its buyers, employees and investors should be able to make a profit. The new innovation creates a profitable model for a company, employees must be happy to work for the company, and purchases must be satisfied with the purchase. If all these factors are important for good reputation and brand image in a market.
Nikunj Jain encourages timely change from traditional business tools and plan framework. Every company needs to grow and bring new technology to survive with change.
Let’s look at an example of digital marketing. Today, people prefer online shopping for products and services and want their favorite brand to go digital. If the brand does not incorporate the new strategy to develop and the presence of the brand will be negligible in the market. Therefore, you must regularly change the structure in business planning and execution.
Nikunj Jain has been encouraging companies to find an alternative to their problems, instead of worrying about revenue. The blue ocean strategy thrives for continuous change in the market according to the needs of consumers. Strategies must focus on what is needed and work accordingly. It requires the development of an innovative mindset that brings joy to the consumer.