Using the value map to explore value creation opportunities is powerful.

This tool requires a clear understanding of the target market or served segment.

It relies on a precise knowledge of needs and sought-after benefits and requires an evaluation of competing offers to identify gaps between different value propositions.

This analysis helps identify opportunities to create a unique positioning of the offer by focusing on key characteristics.

Chan Kim and Renée Mauborgne explain in their book "Blue Ocean Shift" how to create this value map they call Strategy Canvas:

1. Name the industry
2. Identify the key competition factors
3. Decide which competitors to include in the analysis
4. Evaluate your offer in light of key competitors
5. Document the canvas

The Royalmount Example

To demonstrate this, let's use a case study that is easily "replicable" regardless of our country of origin.

In Montreal, a high-end shopping center recently opened: The Royalmount. Although it boasts various exclusive boutiques, foot traffic has been slow to materialize.

Read LaPresse: Royalmount, three months later "We certainly expected a bit more excitement" (In French)

The developers are reassuring and claim that the shopping center's progression is meeting expectations.

Let's use the value map (Strategy Canvas) to evaluate the fast-food offering, Le Foufou https://www.lefoufou.com/.

Selection Criteria

The choice of criteria here is subjective and allows comparison with the fast-food offerings at Carrefour Laval and TimeOut Market in downtown Montréal. Two similar offerings given the positioning of the shopping centers.

The competitive criteria selected are:

• Meal price: The total cost of the meal including a side and beverage.
• Perceived quality: Presentation, taste, ingredients.
• Food court atmosphere: Ambiance, noise level, lighting, ease of finding seating.
• Service experience: Ease of finding chosen kiosk, ease of ordering, waiting time, tray disposal after meal.
• Food offering exclusivity: Unique restaurant offerings (dishes, food types, distinctive restaurateurs).
• Variety of offerings: Ability to find different food options (dishes, cuisine types) and menu variety.
• Logistical flow: Ease of movement, counter layout, table arrangement, restrooms.

The Evaluation

Here's the evaluation of different criteria for the three food offerings.

Based on the evaluation of chosen competitive criteria, here are the key takeaways.

Carrefour: An average experience with mainstream restaurant offerings. The food court organization focuses on efficiency and rapid customer flow. Takeaway: Eat properly and return to shopping.

TimeOut: A unified dining experience where space design aims to facilitate flow while experimenting with a distinct approach (space and restaurants). Think communal tables and a more subdued atmosphere. Takeaway: Tourists, experience the taste of Montreal.

Royalmount Foufou: A dining space where brightness takes precedence and where eating and socializing are pleasant. However, flow is more difficult and finding your restaurant of choice is less intuitive. Although they highlight a "unique" offering, the cost-benefit ratio is questionable in my opinion. Takeaway: Take your time.

At first glance, one doesn't choose where to shop based on food offerings. However, this offering can itself become a significant attraction for business clientele who prefer a space for meetings or customers wanting to take a break during their shopping.

Opportunities

In light of the evaluation (very personal), it's possible to identify opportunities for Royalmount's offering.

To increase offer coherence, consider the criteria of perceived quality, service experience, and logistical flow that can be enhanced to align with the asking price.

It's also necessary to consider the food offering in the context of the shopping experience provided. Let's ask ourselves:

• Does the dining experience influence consumption at the shopping center?
• Does the price adequately reflect the total experience?
• What is the average customer basket size and what proportion is associated with dining?

Limitations

The evaluation uses an obviously very personal assessment. To maximize the analysis impact, a deeper understanding of the "jobs-pains-gains" of the targeted segments would allow for a more accurate evaluation.

However, even a high-level evaluation can highlight important signs to pay attention to:

• The perceived cost/benefit ratio
• Coherence between food offering and shopping experience
• Influence of dining experience on total "shopping basket"

We'll return in 12 months to evaluate the follow-up. Both for the evaluation and to track the evolution in understanding of importance criteria.

The Royalmount site is under development, and the emerging offer clearly goes beyond simple shopping.

Key Takeaways

The relative evaluation of positioning and unique characteristics of offerings is an easy exercise to integrate into your daily routine. It helps better understand organizations' choices, the coherence of these choices, and implementation capabilities.

This exercise helps develop that competitive "muscle": The ability to observe and identify opportunities. Ask yourself: Are there opportunities to "do things differently" and develop a unique offering?

Do you have an opinion on this evaluation? Share your point of view.

Have a good week