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Unformatted text preview: can block the execution of a Blue Ocean Strategy. These forces may come from the
company’s employees, business partners, or the general public. One must identify adoption hurdles,
and address them up-front before attempting to execute a Blue Ocean Strategy.
Beyond the alignment of these three propositions, six principles drive the successful formulation and
implementation of Blue Ocean Strategy. See Principles of Blue Ocean Strategy. Buyers encompass the totality of customers and noncustomers. Customers are existing industry customers;
they are the ones the industry is fighting for. Often, companies focus on their existing customers and ignore
noncustomers. Yet, to create new demand, companies need to look outside of their typical customer base.
Instead of focusing on further segmenting customer differences, they need to build on powerful commonalities
in what buyers value. This is because buyers are often willing to put their differences aside to gain a dramatic
leap in new value. By changing a m...
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This note was uploaded on 10/21/2012 for the course ECON 45 taught by Professor Mikel during the Spring '12 term at Art Institute of Atlanta.
- Spring '12