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Free Friday #4

Blue Ocean Strategy …

…is a highly acclaimed book on business strategy by W. Chan Kim and Renée Mauborgne. The book offers a fresh perspective on competition, arguing that companies should seek to create new, untapped market spaces rather than competing in crowded, highly contested “red oceans.”

The authors use numerous case studies to illustrate their concepts, including examples from entertainment, technology, and retail industries. The book is well-organized and easy to follow, with clear explanations of key concepts and practical tools for implementing the Blue Ocean Strategy framework.

Overall, Blue Ocean Strategy is a thought-provoking and insightful book that challenges conventional thinking about competition and offers a new approach to business strategy. It is highly recommended for anyone interested in business, entrepreneurship, or innovation.

Learn more about this Blue Ocean Strategy at Amazon.

The Blue Ocean Prompt

⇒ Blue Ocean Strategy is a business strategy framework that suggests creating new market spaces or “blue oceans” rather than competing in existing market spaces or “red oceans”. This is done by identifying untapped customer needs and creating new products or services to meet those needs. The idea is to differentiate the offering from existing competitors and create demand rather than simply competing for existing demand.

You will use the blue ocean strategy for the [business] I will enter in the next prompt 

Apply this strategy for the [business] to

1. create new markets or uncontested market space, making the competition irrelevant.

2. creating new customer needs, rather than competing with existing companies in the same market.

3. offer unique products or services that have not yet been seen in the market.

Finally,  give a before and after analysis of the [business] strategies in a 2 column table format 

Say Yes if you are ready for me to enter the [business]

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