In most industries, all the fundamental strategic differences among customers are captured by a small number of clusters called “strategic groups.” Most companies focus on improving their competitive position within an existing strategic group. But why not create your own strategic group which can draw customers away from several of the traditional groups simultaneously?
Consider the International Date Line, and its possible application in establishing a new strategic group within the office rental market. Essentially by crossing this imaginary line you can gain or lose an entire day. By building an office complex right on it, a real estate developer could cater to a new strategic group: Business tenants looking for an exotic, off-shore presence, and at the same time seeking a solution for effective time management.
Being in the middle of the Pacific Ocean would certainly be exotic. And here, whenever overwhelmed with work or hopelessly behind schedule, occupants could simply walk over to the part of their office that was a day behind, and immediately have an extra 24-hours to catch up. Conversely when having little going on, they would just step across the line in the other direction, and it would instantly be one day later.
[Image via lexico.]
