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Experiment 5

experiment design thining

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Sai Dinesh
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10 views3 pages

Experiment 5

experiment design thining

Uploaded by

Sai Dinesh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF or read online on Scribd
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Experiment 5: > Explore untapped market opportunities. > Provide differentiated and new offers based on the user needs. > Adapt a strategy to new market needs by understanding the competitive edge. > Establish the right vision for the design challenge or a road map for step- by-step implementation and control mechanisms. Red veean Blue oc Black ocean Cistng markers Mon-competitve markets Eantgstenrdviven markets Strong competition Feu competitors ‘without competiti —— New value curves with the 4 0 four actions framework Raise a ‘Six phases of the buyer experience het fectee might be te far oboe the previtas Industry standard? Reduce What factors might be ‘reduced for blow te previous industry stondard? Eliminate . hat fctrs are dined ‘nthe indasry adit be clined? Create i @ Corvent industry focus et fants hat the Industry hes eo offered 0 @ Bee ocean afer ° 6 fFornighbe went? New blue sceaw value proposition How the tool is applied... Step 1: Begin with the “four actions framework" (raise, reduce, eliminate, and create). The focus is on the definition of strategic factors, which direct or alternative competitors — or ‘the industry as a whole — concentrate on with respect to a product or service (2.g. productivity, price, guarantee, etc.). Step 2: Determine which of these factors can be raised, reduced, eliminated, or which ones can be newly created. Choose the most critical factors. Step 3: Arrange these critical factors in the buyer utility matrix. First define the decision factors critical to the user/customer with respect to the offer known today. Step 4: Think about which factors can be reduced or eliminated. Now comes the creative part. Conduct a brainstorming session with the ‘team to get to the unused factors. To do so, additional value ranges should be identified that a service or product may be able to cover. Step 5: Define the new “blue ocean” value proposition from the result. . =f juowayels wia|qoag tw dunun aalna S001 NWa00 anna

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