Spanx Owns Marketspace Through The Blue Ocean

“Blue Oceaning” A Tired Industry
Spanx has succeeded in reviving a tired industry by casting it in a fresh new light according The Wall Street Journal’s August 7th issue.  A la Blue Ocean strategy, Sara Blakely and Spanx have rendered the competition irrelevant by transforming the grandmotherly product of shapewear into cool and hip.  It has raised the dimensions of packaging and image, created the new dimension of invisibility and fit, and infused emotion through coolness.  This has enabled Spanx to own the high-end marketspace of designer clothes wearing women. 

Connecting To A Space Through Two Dimensions: Useage and Demographics
In line with the strategies outlined in my forth-coming book, Owning Marketspace, Sara owns two space factors/dimensions: usage and demographics.  The usage type and occasion of the product are key – seamlessness and shapeliness under pricey garments typically worn when “going out” or for special events.  Spanx captures a younger, fashion-conscious demographic. Both these dimensions are critical to developing this Blue Ocean for this business, and Sara Blakely has deftly, coolly captured this marketspace. 

I am willing to talk with blog participants live via phone for free consultations.  I am also available to companies, businesses and organizations for consulting engagements and speaking opportunities.  For any of these request, E-mail me .  I will help my readers in any way possible – I want to share my knowledge and expertise.

Mike Bolden marketing expert and blue ocean strategist – writing to inform, enlighten, and inspire.  Author of forth coming book, “Owning Marketspace”.  Available for consulting and speaking engagements.

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Spanx: Smoothing Those Blue Ocean Waters

Spanx’s Product – Shapewear
Sara Blakely created a Blue Ocean in shapewear by fashioning hosiery material which slims a woman’s appearance while remaining invisible under contemporary apparel. More importantly, to many women, it provides a dramatically shapelier appearance in their eveningwear, and for others, it opens up their clothing options by opening up the back of the closet, where they pushed clothes that no longer fit but they couldn’t bear to part with. Spanx’s Business Blakely’s Spanx Inc. markets and manufactures footless pantyhose and other types of shapewear including leggings and bras.  Her company exceeded $250 million in retail sales last year.  By creating this unique and innovative shapewear, Sara’s Blue Ocean has become synonymous with high-end shapewear.

Owning A High-End Hosiery Marketspace
Sara successfully sought to dominate and own a marketspace in the hosiery industry of high-end shapewear.  From the outset, she focused on high-end department stores where women would pay a premium price for an item that would make them look better in their pricey designer clothes.  This product used classic Blue Ocean Strategy, updating the image of shapewear by raising the dimension packaging and the “cool” factor.  Spanx products have sassy names such as Hide & Sleek, and its packaging is slick and colorful.  This is quite revolutionary in light of the sea of beige cases that other manufacturers use. 

I am willing to talk with blog participants live via phone for free consultations.  I am also available to companies, businesses and organizations for consulting engagements and speaking opportunities.  For any of these request, E-mail me .  I will help my readers in any way possible – I want to share my knowledge and expertise.

Mike Bolden marketing expert and blue ocean strategist – writing to inform, enlighten, and inspire.  Author of forth coming book, “Owning Marketspace”.  Available for consulting and speaking engagements.

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Monopoly Rules: The Compass, You Choose a Path

Not a Second Half Team – First Part is Clearly Stronger
This book seems to lose strength toward the end, and is less compelling in the later chapters.  He guides the reader through five tests to determine whether you have a monopoly, and he talks about defending a monopoly.  At the end, Lele writes “just enough” about discovering and uncovering our monopolies, which should be discussed rigorously – but isn’t.  It really leaves the reader to use the book as just a compass and find the correct path to a monopoly by ourselves.  I finished the book with the impression that Lele purposely left us readers with an implied invitation to hire his consulting firm if we want to learn more.

Ties to Blue Ocean Strategy
I enjoyed how the themes in this book tie to Blue Ocean Strategy.  Blue Ocean Strategy clearly develops the idea of spaces in the market, and Monopoly Rules also addresses the implications of owning a marketspace to make the competition totally irrelevant.  The goal of these two paradigms is to differentiate along key industry or product dimensions to own space and create situational monopolies.  I highly recommend both of these books to small business owners as well as executives and managers at larger companies.

An Important Book – A Should Read
Overall, I think Milind Lele’s Monopoly Rules is important in today’s economic climate and should be read by any person who is or wants to be involved in business.  The idea of being able to charge high monopoly-type rents is a “holy grail” in any industry or business.  The book has many strengths, it’s full of clear and pointed examples, and is suitable for many audiences, including those who are less strategically-oriented, new to marketing, or new to business in general. Monopoly Rules points you in the right direction – it is up to you to choose a path.

I am willing to talk with blog participants live via phone for free consultations.  I am also available to companies, businesses and organizations for consulting engagements and speaking opportunities.  For any of these request, E-mail me .  I will help my readers in any way possible – I want to share my knowledge and expertise.

Mike Bolden marketing expert and blue ocean strategist – writing to inform, enlighten, and inspire.  Author of forth coming book, “Owning Marketspace”.  Available for consulting and speaking engagements.

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