Nikunj Jain is a Leading business enthusiast and growth strategist. He brought a revolution in the market through innovative and realistic strategies. The traditional ocean strategy for a market was stagnating and old. Being an analyst he breakthroughs the confined boundaries and gives the 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 to fulfill stakeholder expectations.
Nikunj Jain Snapshot of Blue Ocean Strategy
There are various factors for the emergence of the blue ocean like a competitive market, overcrowding, Income & employment, Trade cycle, Inflation, and a lot more. In Nikunj Jain’s review of the market, he found that Leading companies opted for Blue ocean strategies and were drifting towards success on the other hand Losing businesses were logging in the red ocean.
Let’s first understand what Nikunj Jain’s strategy holds: the blue ocean creates room for more knowledge, pursues differentiation and low cost, uncontested marketplace, new tools & structures, low opportunity risk, fifty-fifty outcomes.
It basically focuses on the growth of every business without creating competition. Every business should thrive in the market yet without being contested. Conventional business tactics say to maintain the similarity between the companies and be the best among each other. This type of thinking stops the growth & increases envy. Blue ocean strategy increased the demand for the brand and brought new opportunities for it to sustain. Today people are supporting sustainable businesses and helping them to grow. Nikunj Jain has played a major role in establishing this unique concept.
It promotes differentiation and low cost, earlier the conventional methods created high-priced items with a high price which is non-affordable for a middle-class man but this new strategy demands to find out a middle solution of demand and cost. A sustainable idea so that a high-quality product or service is provided at a reasonable price. So that the demand and supply are high.
Nikunj Jain believes companies should holistically implement their new strategy. Along with the company its buyers, employees, and investors should be able to make a profit. New innovation creates a profitable model for a business, employees should be happy to work for the company and the buys should be satisfied with the purchase. If all these factors matter for good reputation and a brand image in a market.
Nikunj Jain encourages the timely move on from the traditional business tools and framework of the plan. Every business needs to grow and bring new technology so that it survives with the change.
Let’s look at an example of Digital marketing. Today people are preferring online purchases of products and services and want their favorite brand to become digital. If the brand does not incorporate the new strategy to develop itself and the brand presence will be negligible in the market. So there should regularly change the structure in business planning and execution.
Nikunj Jain has been encouraging businesses to find an alternative to their problems, instead of cribbing about the revenue. The blue ocean strategy thrives for continuous change in the market according to the needs of the consumers. Strategies should focus on what is needed and work accordingly. It demands the development of an innovative mindset that brings joy to the consumer.
