Complete the sequence of the Blue Ocean Stratgey: Buyer Utility, Price, Cost…..Select one:a.Repeatb.Manufaacturec.Adoptiond.None of these
Question
Complete the sequence of the Blue Ocean Strategy: Buyer Utility, Price, Cost…..
Select one:
- a. Repeat
- b. Manufacture
- c. Adoption
- d. None of these
Solution
To complete the sequence related to the Blue Ocean Strategy, it's crucial to understand the three key components involved in creating a successful strategy: Buyer Utility, Price, and Cost.
- Buyer Utility: This refers to the value and benefit that the product or service provides to the consumer.
- Price: This denotes the cost that consumers are willing to pay relative to the perceived value.
- Cost: This involves the expenses incurred in producing and delivering the product or service.
After considering what's next in this context, the correct answer aligns with the next logical step in developing a Blue Ocean Strategy after addressing buyer utility, pricing, and cost is adoption. Adoption refers to how consumers take up or start using the product or service, which is crucial for the strategy's success.
Final Answer
c. Adoption
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