As a result, everyone tends to look the same over time, and everyone competes fiercely to bite off their piece of the market, thus creating a bloody “red ocean.” Price and features, for example, tend to be common ones. Lastly, the blue ocean idea index evaluates your value proposition based on the four criteria of blue ocean strategy: utility, price, cost, and adoption.Blue Ocean strategy – in case you have not come across the concept before – is based on the idea that most organizations within any field or industry compete on the same basic factors. The buyer utility map assists in assessing how your value proposition delivers utility to your customers across the six stages of the buyer experience cycle. The four actions framework helps you identify the factors that you can eliminate, reduce, raise, or create to achieve value innovation. The strategy canvas is a visual tool that compares your value proposition with your competitors' on the key factors that affect customer choice. To help you measure the impact of blue ocean strategy, you can use tools such as the strategy canvas, the four actions framework, the buyer utility map, and the blue ocean idea index. Additionally, you must have a reliable and consistent way of collecting and analyzing data and feedback from customers, competitors, and the market. To measure the impact of blue ocean strategy, you need to have a clear and quantifiable goal and a set of key performance indicators (KPIs) that reflect your value proposition and your market position.
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