White Space Strategy
The idea of searching for ‘White Space’ was probably first mentioned in the book Competing For The Future by Gary Hamel and C.K. Prahalad, which was published in 1994. “What were the “white space” opportunities between the company’s existing business units.”
There are 3 types of White Space
- The White Space Within (Your Existing Market)
- The White Space Beyond (Creating New Markets)
- The White Space Between (Gaps & Discontinuities)
In their 1990 paper “The Core Competence of the Corporation”, Hamel and Prahalad had established their idea of Core Competencies, comprising four core competences:
- Resources– These are the sources for the development and acquisition of skills and technologies.
- Capabilities– The various possibilities to build core competences.
- Competitive advantage– The challenge to acquire and develop the largest possible market share of core products.
- Strategy– The strategy to develop the largest possible market share of finished products.
Core Competencies combined with “White Space” can form the basis of a company and product strategy (see diagram below)
If you are interested in these concepts and what they mean for product strategy, please contact us.