Hence, the sixth principle of the Blue Ocean Strategy asserts the need to build execution into the strategy itself. The execution makes or breaks the strategy. The lack of will from the leaders, disagreements among critical decision-makers, and a chaotic workplace environment would certainly prevent an organization from going beyond the convention. Lastly, adoption points to addressing the adoption hurdles in actualizing the business idea. On the other hand, cost is about setting a cost target without changing the strategic price to attain the desired level of profitability. The buyer utility is about creating an irresistible or exceptional offer that will generate z realization of utility while price is about determining if the product is accessible to the mass consumers. These are buyer utility, price, cost, and adoption. This means that it follows an established blueprint composed of four elements that also correspond to strategic and sequential steps. Of course, the Blue Ocean Strategy is a systematical process. Customers in the third level need convincing about the necessity of the product. For example, tapping the noncustomers from the first level would require making the product irresistible while those in the second level would need presenting the product as if it is the best choice. When it comes to tapping each tier, it is important to understand its unique characteristics.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |