The concept of Blue Ocean Fair can contribute to the growth of a startup in several ways. Firstly, it allows the startup to market-test a prototype of their new offering, enabling them to identify and rectify any last-minute problems. This ensures that the product or service is as refined as possible before it is formally launched. Secondly, the Blue Ocean Fair can help in building momentum for the startup. The excitement and anticipation generated by the fair can attract potential customers and investors, thereby facilitating growth. Lastly, the fair can assist in the formalization of the business model by showing how the value and cost sides of the business can join together to generate profitable growth.

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Blue Ocean Shift

Released in early-October 2017 — Blue Ocean Shift — is the continuation of the award-winning Blue Ocean Strategy, a bestselling strategy book based on...

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Once the decision has been made, the team should quickly market-test a prototype of the new offering, in order to capitalize on the momentum that has built up with the Blue Ocean Fair. With any last-minute problems ironed out in the wake of the testing, the team can now move on to formalizing the Business Model. This is a big picture that shows how the value and the cost sides of the business can join together to generate profitable growth at the set strategic price.

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The Blue Ocean Shift book suggests formalizing the Business Model for profitable growth by first making a decision and then quickly market-testing a prototype of the new offering. This is done to capitalize on the momentum that has built up with the Blue Ocean Fair. After any last-minute problems are ironed out in the wake of the testing, the team can move on to formalizing the Business Model. The Business Model is a big picture that shows how the value and the cost sides of the business can join together to generate profitable growth at the set strategic price.

Market-testing a prototype in the Blue Ocean Shift strategy is significant as it allows the team to capitalize on the momentum built up with the Blue Ocean Fair. It provides an opportunity to iron out any last-minute problems before formalizing the Business Model. This step ensures that the value and cost sides of the business can join together to generate profitable growth at the set strategic price.

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