Building blocks of Blue Ocean Strategy include buyer utility and price from "summary" of Blue Ocean Strategy, Expanded Edition by W. Chan Kim,Renée A. Mauborgne
Buyer utility and price are two critical elements that serve as the foundation for the Blue Ocean Strategy. Buyer utility refers to the value that a product or service offers to customers in terms of addressing their needs and preferences. It is about creating offerings that stand out in the market by delivering exceptional benefits that meet or exceed customer expectations. By focusing on buyer utility, companies can identify ways to differentiate themselves from competitors and attract new customers. Price, on the other hand, plays a significant role in shaping the competitive landscape. Traditional competitive strategies often revolve around offering lower prices to gain a competitive advantage. However, the Blue Ocean Strategy challenges this ...
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