Blue Ocean Strategy: Combining Differentiation and Cost Leadership
11 important questions on Blue Ocean Strategy: Combining Differentiation and Cost Leadership
What are Blue Oceans?
How do Blue Oceans occur?
What are Red Oceans?
Rivalry = cut-throat
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What are the 2 pricing options of a Blue Ocean Strategy?
2) Charge lower price than Competitors (= gain market share, increase sales)
What is Value Innovation?
What questions are important to ask when talking about:
Value innovation - lower cost
Reduce: Which factors should be reduced? (below industry's standard)
What questions are important to ask when talking about:
Value innovation - Increased Perceived Consumer Benefits
Create: Which factors should be created? (which industry never offered before)
What is the Value Curve?
What is the Strategy Canvas?
How to create more Economic Value and Gain&Sustain a competitive advantage?
2) Increase Perceived Customer Value
What are the 4 Key Questions when formulating a Blue Ocean Business Strategy?
Reduce
Raise
Create
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