But in cases where this analysis is intended as more of a rough estimate rather than a scientific ranking, I’ve found that as long as you are quite familiar with your products and your competitors products, ranking these yourself is good enough to start with.

Ideally you would have customer survey data to back up these ratings and ensure the ratings were not heavily influenced by your own biases. The next step in creating the strategy canvas is to rate each product from 0-5 (any scale is fine but I like to use 0-5) according to each attribute. Affordability is valuable to the customer. This is also why I often use the term “affordability” rather than price. So it’s important to keep these details straight. And if I had used thickness rather than thin-ness, my rating scale, which I talk about below, would have been messed up because having a higher thickness score is bad but having a higher thin-ness score is good. For example, notice how I used the attribute “Thin-ness” rather than “Thickness.” The reason I did that is because “thin-ness” is what provides value to the consumer, not thickness. Also notice that each attribute should be listed as if from the customer perspective. For this example I stuck with mostly specifications for simplicity. The list of attributes should have all the major value drivers in a product or service. Keep in mind that though this list is mostly about specifications in this example, often times other parameters that provide value to the customer should be included such as speed of service, customer support, delivery time, etc. In the spreadsheet, this list goes in the column on the left of the screen and should look like this: For this example, I’m going to list the following attributes of smartphones: The next thing to do is list the attributes, or factors of competition, that those products compete on. If you’re following along with the Excel template, open the first worksheet labeled “Blank Template” and after you’ve filled in the data, this is what it should look like: In this example, I’m going to compare the following smartphones: To get started, first list the products (or services) you want to compare. It is designed to give you an immediate snapshot of how your business/product/service stacks up against the competition. Crossing The Chasm Concept Summary (scroll to end of article)Ī strategy canvas is the most fundamental tool used in the Blue Ocean Strategy framework.Innovation Lessons from Steve Jobs and Apple.

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