Create new value for your customers. When more customers buy what you're selling Wordofmouth advertising can increase demand. You will meet customers on their level. Value and affordability are equally important in the blue ocean mindset. You will always introduce your innovation at a price that your target customers can support. This approach lowers the barrier for consumers to buy what you're selling. Disadvantages of the Blue Ocean Strategy Here are some of the disadvantages of the blue ocean strategy. It may seem too ambitious.
However products or services can be launched that are inexpensive and nonco Job Seekers Phone Numbers List mpetitive. But in reality Creating innovation isn't always easy. Even if you have a great idea But realworld limitations can get in the way of making it a reality. Might be too risky Maybe you can find a way to create a unique product without ridiculous prices. Maybe you've reached this crossroads because people in your small business group will buy from your business. But what if these people are the only ones interested in your offer? If this is the case Choosing the idea of a blue ocean strategy may seem too dogmatic. impermanence Innovation breeds imitation.
This means that a blue ocean could easily become a red ocean over time. Although the blue ocean strategy is best for your business right now But it may not be possible in the long run. CONCEPTUAL FRAMEWORK FOR SETTING BLUE OCEAN STRATEGIES Blue Ocean In seeking opportunities to open their own waters and to cut off from competition Organizations must create new market boundaries. This is the first and most important principle in creating a blue ocean strategy. There are six basic approaches to creating new market boundaries. Known as the “Six Paths Framework” these paths challenge organizations' traditional approaches to strategy to work within their boundaries. But instead it is separated from known boundaries.
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