It also helps you break these

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Take an overview of the current situation Before you start formulating your strategy or filling out its canvas, it is necessary to understand the current situation in more detail. You can include a list of the most important elements and factors that other companies compete for and relate to your field of business. Once you work on that, you are making the first steps to building your strategy, and this What helps you see the entire scene on the one hand, and push your organization to complete the work on the other hand. 3- Be aware of the limitations and assumptions of the field of work Knowing these factors contributes to forming a comprehensive vision about the target market or its perception.


Restrictions and break from the previous industry by creating a new industry thanks to joint innovation. 4- Strategy formulation In this step, you need to phone number database know how you will move from point (A) to point (B), that is, from the red ocean to the blue ocean. For example: To reach a larger goal, you may need to take advance steps in the beginning, and if you want to take For certain improvements in scope, you need capital or resources, and here we find a framework consisting of four actions that helps to understand how the factors must change for transformation, which are: Exclusion , by focusing on factors that other industries have long competed on. Construction , by being familiar with factors that the industry has not addressed before.

   

Increase , by knowing the factors that require it to be higher than the current level. Reducing , by looking at the factors that are supposed to be reduced below the current level. Read also about: Color psychology in marketing 5- Launching the Blue Ocean Strategy Now comes the final step in which the strategy actually begins to be implemented and launched. In this regard, the authors of the Blue Ocean Strategy recommend a three-pronged iterative approach: Defining goals, paths and next steps. Conduct testing of existing products and features in the market. Adjust the strategy according to the results. Refine the strategy to maximize its potential. Example of blue marketing strategy A great example of a blue marketing strategy is Spotify If we go back, we find that the majority of profits that came from the music industry were from physical sales of tapes and CDs.