Blue Ocean Strategy by Chan Kim and Renée Mauborgne | Episode 4 |
The Audiobooks Podcast
The Different Forms and Functions of Alternative Products and Services
The key is not to pursue pricing against the competition within an industry. Instead, pursue pricing against substitutes across industries and non-industries. This approach provides a straightforward way to identify where the mass of target buyers is. It also helps managers determine how high a price they can afford to set without inviting competition from imitation products or services.
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