![]() ![]() ![]() They use the metaphor of a blue ocean to represent an uncontested market, and they contrast it with a red ocean, a marketplace where fierce competition has stained the water with the blood of the combatants.Īccording to Kim and Mauborgne, crowded markets and red ocean strategies tend to produce minimal profit margins, while blue ocean strategies lead to more profitable growth. ![]() Chan Kim and Renée Mauborgne argue that the solution to business growth and success is to operate in an uncontested market. In Blue Ocean Strategy, INSEAD business professors W. Lastly, the blue ocean idea index evaluates your value proposition based on the four criteria of blue ocean strategy: utility, price, cost, and adoption.1-Page Summary 1-Page Book Summary of Blue Ocean Strategy 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. ![]()
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