![]() ![]() In such a market sphere, industry borders are defined and accepted, and the competing rules of the game are identified. Red oceans are the known market space which represents all the industries in existence today. ![]() ![]() In the market universe, there are two sorts of oceans: red oceans and blue oceans. Chan Kim and Renee Mauborgne at Harvard and INSEAD universities. In the research phase, it has been implemented in 300 companies over 20 years. It is a proven system for making competition irrelevant by creating a low-cost and differentiated strategy in parallel. In the context of the Blue Ocean strategy, it is recommended to look at market boundaries differently and present products & services for consumers from different segments by identifying a common trait. Lastly, the blue ocean idea index evaluates your value proposition based on the four criteria of blue ocean strategy: utility, price, cost, and adoption.Blue Ocean Strategy was developed by W. The buyer utility map assists in assessing how your value proposition delivers utility to your customers across the six stages of the buyer experience cycle. The four actions framework helps you identify the factors that you can eliminate, reduce, raise, or create to achieve value innovation. The strategy canvas is a visual tool that compares your value proposition with your competitors' on the key factors that affect customer choice. To help you measure the impact of blue ocean strategy, you can use tools such as the strategy canvas, the four actions framework, the buyer utility map, and the blue ocean idea index. Additionally, you must have a reliable and consistent way of collecting and analyzing data and feedback from customers, competitors, and the market. To measure the impact of blue ocean strategy, you need to have a clear and quantifiable goal and a set of key performance indicators (KPIs) that reflect your value proposition and your market position. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |