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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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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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