Companies need to focus on creating value for buyers, not beating competitors from "summary" of Blue Ocean Strategy, Expanded Edition by W. Chan Kim,Renée A. Mauborgne
To succeed in the market, companies must shift their focus from outperforming rivals to creating value for buyers. This concept lies at the heart of blue ocean strategy, a new way of thinking about business that emphasizes innovation and value creation over competition. Instead of fighting for share in overcrowded, cutthroat markets, companies must seek out untapped market space where competition is irrelevant. By focusing on creating value for buyers, companies can unlock new sources of demand and set themselves apart from competitors. This requires a deep understanding of what buyers truly value and a co...
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