Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike...
-
Upload
godfrey-virgil-hutchinson -
Category
Documents
-
view
215 -
download
0
Transcript of Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike...
![Page 1: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/1.jpg)
Get the Strategic Sequence RightChapter 6 Blue Ocean Strategy
By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner
![Page 2: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/2.jpg)
Summary
![Page 3: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/3.jpg)
Get the Strategic Sequence Right
•4th principal•Fleshing out and validating blue ocean
ideas▫Ensure commercial viability
•Understand the right commercial sequence
•How it asses blue ocean ideas▫Dramatically reduce business risk
![Page 4: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/4.jpg)
The Right Strategic Sequence
•Buyer utility•Price•Cost•Adoption
![Page 5: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/5.jpg)
Buyer Utility
•Does your offering unlock exceptional utility?
•Is there a reason for a mass number of people to buy it?▫No? there is no blue ocean potential
Rethink it or get rid of idea▫Yes?
Continue to step two
![Page 6: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/6.jpg)
Price
•Price to create demand•Product priced to create or attract target
buyers so they have ability to pay for the product?▫No? Customers can't buy it and will not last
in market
![Page 7: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/7.jpg)
Cost
•Can you make a profit on the product?▫Easily accessible to target buyers
•Don’t let cost drive price
![Page 8: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/8.jpg)
Adoption
•What are the adoption hurdles in making your business idea actually happen?
•Need to address up front
![Page 9: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/9.jpg)
Stages of Buyers Experience Cycle
•Purchase- how long does it take•Delivery- get product delivered•Use- training or experience?•Supplements-other products•Maintenance- easy to maintain?•Disposal- waste items? Dispose?
![Page 10: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/10.jpg)
Utility Layers (cont.)
•Unlock exponential utility for buyers•Productivity- so things faster•Simplicity- easy to use?•Convenience- easy to obtain?•Risk- reduce customers financial,
physical, or credibility •Fun and image- like product?•Environmental Friendless
![Page 11: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/11.jpg)
Strategic Pricing (Cont.)
•Step 1: Identify the Price Corridor of the Mass▫Different form, same function
(i.e. Ford’s Model T vs. horse-drawn carriage)
▫Different form and function, same objective (i.e. Cirque du Soleil vs. restaurants/bars)
![Page 12: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/12.jpg)
Strategic Pricing (Cont.)
•Step 2: Specify a Level Within the Price Corridor▫The degree to which a product/service is
legally protected through patents or copyrights
▫The degree to which the company owns some exclusive asset or core capability (i.e. expensive production plant)
![Page 13: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/13.jpg)
Strategic Pricing (Cont.)
![Page 14: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/14.jpg)
Target Costing
•Streamlining & Cost Innovations•Partnering•Pricing Innovation
![Page 15: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/15.jpg)
Target Costing
![Page 16: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/16.jpg)
Adoption
•Employees•Business Partners•The General Public
![Page 17: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/17.jpg)
The Blue Ocean Idea Index
![Page 18: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/18.jpg)
Summary of other Chapters
![Page 19: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/19.jpg)
SMaC Recipe
•Specific, Methodical, and Consistent•Includes what to do and what not to do•A great company must evolve its recipe,
revising selected elements when conditions merit, while keeping most of its recipe intact.
![Page 20: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/20.jpg)
Amending the SMaC Recipe
•2 approaches:▫Exercising empirical creativity▫Exercising productive paranoia
![Page 21: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/21.jpg)
Property Rights
•Patents•Copyrights•Trademarks•Trade Secrets
![Page 22: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/22.jpg)
Dish Network
![Page 23: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/23.jpg)
The First and OnlyInteractive Golf Store
![Page 24: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/24.jpg)
How is it Different?
•On-staff PGA and LPGA Professionals•On-Site Certified Club Technicians•Golf Course Simulators•Indoor driving bay•On-site full-sized bent-grass putting green
![Page 25: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/25.jpg)
Buyer UtilityPurchase
Delivery
Use
Supplements
Maintenance
Disposal
Customer Productivity
Simplicity X XConvenience
Risk
Fun and Image
Environmental friendliness
X
![Page 26: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/26.jpg)
Strategic Pricing: Identify the Price Corridor of the Mass•People usually buy their equipment and
get tips/lessons separately. • In order to attract customers, pricing
must be compared to that standard.
![Page 27: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/27.jpg)
Strategic Pricing: Specifying a Level in the Price Corridor•Nonrival good: The idea of a interactive
golf store can be imitated•No legal protection but some resource
protection •PGA and LPGA pros are hired for Gold
Galaxy only•Lower to middle level pricing is optimal
![Page 28: Get the Strategic Sequence Right Chapter 6 Blue Ocean Strategy By: Laura Carr, Brad Klingberg, Ike Huestis, Treanne Turner.](https://reader035.fdocuments.net/reader035/viewer/2022062720/56649efb5503460f94c0e5c2/html5/thumbnails/28.jpg)
Target Costing
•Streamlining: Pros can advise what equipment to buy as well as give lessons, giving customers more for the same cost.
•Partnering: Suppliers with high margin brand name products get specialty treatment, such as better product placement.