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3min chapter
Blue Ocean Strategy by Chan Kim and Renée Mauborgne | Episode 4 |
The Audiobooks Podcast
How to Achieve a Successful Blue Ocean Strategy
The first two steps address the revenue side of a company's business model. They ensure that you create a leap in net-buyer value, where utility buyers receive minus price they pay for it. Securing the profit side brings us to the third element, cost. Can you produce your offering at the target cost and still earn a healthy profit margin? Can you profit at the strategic price, the price easily accessible to the mass of target buyers? The last step is to address adoption hurdles.
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