Question
Blue Ocean framework basically it shows an approach to be better positioned in the competitive and challenging market, by addressing users' needs under another perspective.
Blue Ocean framework basically it shows an approach to be better positioned in the competitive and challenging market, by addressing users' needs under another perspective. It is related to How to win and Where to win, as it seeks new different approaches, offering different things to not compete against incumbents and consolidated players, thus choosing where to play, in segments where competition does not exist, leaving fierce competitiveness segments. Once there is not much competition, returns may be far better.
The other part of the blue ocean strategy is how to win, by increasing value perception AND reducing the costs, focusing on both low cost and differentiation, so, what are user's and customers needs, how could be addressed differently, how by adopting technology that already exists or new tech approaches, promote a different user experience and a value proposition that makes sense. As Cirque of Soleil did, you may reinvent the way you do business, by understanding customers needs and current weakness and strengths of a business model, adjusting accordingly, learning from past experiences and from others, to compete differently, not competing for same customers and fighting for market share, but bringing different customers, in an unique value proposition.
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