Understanding : “Algorithm of design”
Life is divided in ways of two- GOOD or BAD, it is a very common dichotomy. In everyday life, we almost end up facing the challenge in deciding what’s good or bad for us.
“Good design is actually a lot harder to notice than poor design, in part because good designs fit our needs so well that the design is invisible, serving us without drawing attention to itself. Bad design, on the other hand, screams out its inadequacies, making itself very noticeable.” — Don Norman in his book, “The design in everyday things.”
STRATEGIC STORY OF NETFLIX
Attention towards the Strategy applied in “Netflix and chill” scenario, where the right time played an important role. Before Netflix, consumers went to the movies, rented VHS tapes or DVDs and watched whatever was on live TV. Now, consumers can stream content instantly to any device, anywhere. Netflix has changed how consumers access film and TV. They’re no longer tied to the TV and forced to sit through commercials. This changed the vision of customers to access content. Consumers prefer the flexibility of being able to watch what they want when they want to.
The idea of how much data a DVD could hold and how quickly you could disseminate that information through the mail. Eventually, the internet made it possible to deliver things even faster. Movies over the internet became big business, and Netflix was originally a single rental service, After all.
Conducting a PLC analysis can help companies learn when they need to reinvent or pivot their product in a new direction. For example, online streaming service Netflix pivoted their product by going from a DVD-delivering service to primarily an online streaming service — which was met with great success.By examining where their product is in the product life cycle, companies can continue innovating alongside new technology to diversify their product, keep up with competition and potentially elongate their product’s life in the market.
But no single idea has infinite potential. Sooner or later, Netflix will need to look beyond the limits of its current business model — just like when it made the truly game-changing move from DVD rentals to online streaming.
RED OCEAN STRATEGY AND BLUE OCEAN STRATEGY IN INDIA
Red ocean strategy by Indigo airlines:
There was the time of price wars and bleeding cut throat competition among Air Deccan, Jet airways, Kingfisher airlines, Spice Jet, Air India and others. Low cost was considered low quality of travel. No frills airline concept became a new strategy where Indigo airlines came in the picture.
Indigo started expanding rapidly and the only profitable airline in India,surpassing Jet Airways and became the second fastest growing low cost carrier in Asia after airline Lion Air.
Blue ocean strategy by Paytm:
The Blue Ocean Strategy works to create an untapped marketplace outside of the traditional market boundaries. In India, it brilliantly worked for Paytm after the surprised event held by the prime minister. The Prime minister of India Narendra Modi claimed that the action would curtail the shadow economy and reduce the use of illicit and counterfeit cash to fund illegal activity and terrorism. The plan to demonetise the ₹500 and ₹1,000 banknotes was initiated and issuance of new ₹500 and ₹2,000 banknotes of the Mahatma Gandhi New Series in exchange for the demonetised banknotes. Series in exchange for the demonetised banknotes.
Paytm is India’s largest leading payment gateway that offers comprehensive payment services for customer and merchants. It didn’t take long for Vijay Shenkar Sharma (founder of Paytm)to realise that if anybody had a solution to the problem called demonetisation, it was Paytm with its mobile wallet that enabled cashless transactions. It was a heady period for anyone in the digital payments game. In the wake of demonetisation, total electronic and card payments grew 46% by value and 65% by volume in 2016–17 over the previous fiscal year.
In the deep ocean of blue, paytm secured the power in terms of opportunity and growth.
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