Question
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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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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