From the course: Blue Ocean Shift: Beyond Competing (Blinkist Summary)

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Uncover vast opportunities

Uncover vast opportunities

From the course: Blue Ocean Shift: Beyond Competing (Blinkist Summary)

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Uncover vast opportunities

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- [Narrator ] Blink number 8, use a simple framework to uncover vast opportunities. The fourth tool in your blue ocean toolkit is called the six paths framework and it's great for producing blue ocean opportunities. The first path is to look over alternative industries. Your goal in doing so is to determine why customers choose one industry over another. For instance, why do some people hire plumbers while others go to the hardware store? The second path is to examine strategic groups within your industry. Your intention here is to figure out why buyers would choose one product group, say high value, over another group, like low cost. Third comes an assessment of the chain of buyers. This refers to users who pay for your product and in turn influence the purchasing decisions of others. Just consider a preteen girl. She has plenty of clothing but her parents pay for it and her fashion tastes are likely influenced by her…

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