Use the “Hit ’Em Where They Ain’t” Strategy
THIS IS often called a “white space strategy.” You look at your market and you identify a product or service that no one is offering that would fit neatly in the white space between what currently exists and what you can bring to the market.
When Domino’s Pizza began, there were thousands of pizzerias offering the standard menu of pizza dishes, including in the same market area where the first Domino’s Pizza was established.
The white space that the founder of Domino’s, Tom Monaghan, identified was that when customers ordered pizza, speed was more important than quality. When a customer phoned in a pizza order, he was already hungry and wanting to eat as soon as possible. Monaghan filled this ...