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The Blue Ocean Strategy differs from other business strategies in its approach to capturing new markets. Instead of focusing on competing within the existing market space, it emphasizes on creating new, uncontested market space, making the competition irrelevant. This strategy involves delivering high value to customers through innovation, while also keeping the costs low, thereby achieving differentiation and low cost simultaneously. It encourages businesses to break away from the traditional market boundaries and explore new opportunities.
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How can you effectively capture new markets and acquire demand against ever-so-fierce competition? Blue Ocean Strategy steers the focus away from your...
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Learn the Blue Ocean Shift Process to start from where you are now, imagine where you could be, discover how to get there, and make your move. (Slide 6) Use a Buyer Utility Map to plot how your Blue Ocean offering stacks up against the current focus of your industry. (Slide 9) Move your organization's mindset beyond value limitations and towards value innovation for your customers. (Slide 16)
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