We are late to the party, can we still survive

This was a question ask by a customer to me, we are late to the market, is there still a chance to make it in a red ocean market?

My reply to the customer, in this world there is no perfect market, no ideal market. You must know what unique proposition you offer, how your buyers can benefit from your product and what approach to play.

In a blue ocean market, you could be offering products that cusfomer do not recognize why they must adopt it, and how they can benefit from it... in such instance you need to provide a strategy to start educating and making ghe market recognize how your product is great for it.

Or entering a blue ocean market with huge established market gorillas, youdont have the financial ability or the resource to go head on, theni this scenario, you need a strategy to use a tactics and hit the market in a specific spot fast and hard and establish your presence before the gorilla hits you. Or you use a tactics to play possum, to make the gorilla not be feeling threaten and quietly develop your market presence befpre challenging the gorilla head on.

On the other hand, you are entering a saturated market, the you need to know your strength and build a strategy to develop a presence based on your own niche to build your own market the expand...

Thus when you are addressing a market, it is cruicial to

A. Know the market characteristics

B. Understand your offering, know and develop your own strenght and unique value proposition

C. Know your resources, how much can you afford

D. Pick your battle

E. Select your market

F. Pick your strategy

Sound simple, but in reality this is more challenging than you think.

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