What is utility lever?
Utility levers: Cutting across the stages of the buyer’s experience are what we call utility levers – the ways in which companies unlock utility for their customers. In our experience, managers all too often focus on delivering more of the same stage of the buyer’s experience.
What is the Blue Ocean Index?
Blue Ocean Idea (BOI) Index is a simple yet robust tool to verify if a new business idea meets the criteria of a Blue Ocean Strategy. Often, companies believe that a great idea is enough to generate a commercial success. Of course, great ideas must create a significant leap in buyer utility.
What is the optimum strategic sequence in Blue Ocean Strategy?
Companies need to build their blue ocean strategy in the sequence of buyer utility, price, cost, and adoption. This allows them to build a viable business model and ensure that a company profits from the blue ocean it is creating.
What is Pioneer Migrator settler map?
Pioneer-Migrator-Settler (PMS) Map is both a diagnostic and planning tool that helps managers assess and plan their future growth at the portfolio level. The PMS Map is a 3-by-2 matrix where each row represents a business category – pioneers, migrators and settlers.
What is a red ocean strategy?
Red ocean strategy is a plan of action to make a product survive (and make profits) in a competitive market. The strategy aims to beat the competition. Red ocean strategy examples show certain characteristics associated with red ocean theory. They are: Organizations compete in an already-existing marketplace.
Is Netflix a blue ocean strategy?
Netflix. The first company that used the blue ocean strategy is Netflix, a popular subscription-based streaming service.
What are the 4 steps in the blue ocean strategy process?
4-Step Blue Ocean Leadership Process
- Step 1: See your leadership reality.
- Step 2: Develop alternative Leadership Profiles.
- Step 3: Select to-be Leadership Profiles.
- Step 4: Institutionalize new leadership practices.
What is a utility map?
What is Utility Mapping? A utility map shows the positioning and identification of buried pipes and cables beneath the ground. The procedure involves detecting things like sewers, electric cables, telecoms cables, gas and water mains. Example of a utility map.
What is the meaning of Intility?
Essential Meaning of utility. 1 formal : the quality or state of being useful Some experts question the utility [=usefulness] of the procedure. a plan without much practical/economic utility. 2 : a service (such as a supply of electricity or water) that is provided to the public.
What are non customers?
One of the first steps of the blue ocean shift process is to identify the demand that exists beyond your industry. These are your noncustomers: buyers that don’t buy into your industry, product or service yet. The notion of noncustomers – anyone who is not a customer – is broad.
How can you tell blue ocean?
So how do I find my Blue Ocean?
- You’ve attended so many trade shows in your own category that you can almost recite by memory what your competition is doing.
- You keep trying to differentiate your business, your talent, your approach, your processes and your value proposition from others that are really just like you.
What is buybuyer utility map and how does it work?
Buyer utility map is a tool from the Blue Ocean Strategy that allows you to visually map out the entire buyer’s journey against certain criteria. It “…helps to get managers thinking from a demand-side perspective [aka buyer side vs company side].
What are the 6 utility levers in the Buyer Utility Map?
The 6 utility levers in the buyer utility map are the ways in which companies unlock utility for their customers. This represents the vertical axis in the buyer utility map.
How to find blue oceans in the Buyer Utility Map?
In your industry, there may be utility blocks in certain spaces of the buyer utility map that incumbents simply do a poor job of relieving. There may be a blue ocean in removing these blocks. This chart can also be inspiration for finding blue oceans.
How does the Buyer Utility Map affect profit margin?
The first two items, including a buyer utility map, concern revenue and sales. The third considers cost, which affects profit margin. The last considers barriers to execution.