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Blue Ocean Strategy emphasizes the importance of customercentric strategies from "summary" of Blue Ocean Strategy with Harvard Business Review Classic Article “Red Ocean Traps” (2 Books) by W. Chan Kim,Renée A. Mauborgne
Blue Ocean Strategy is centered around the idea of creating uncontested market space by making competition irrelevant. This strategy focuses on finding new opportunities for growth by creating new demand and capturing new customers. One of the key aspects of this strategy is the emphasis on customer-centric strategies. In a Blue Ocean Strategy, the focus is on understanding and catering to the needs and wants of customers. By putting the customer at the center of the strategy, companies can create products and services that truly resonate with their target audience. This customer-centric approach allows companies to differentiate themselves from competitors and attract a loyal customer base. By prioritizing customer needs and preferences, companies can design products and services that are tailored to the specific desires of their target market. This not only helps in creating value for customers but also in building long-term relationships with them. The ultimate goal of a customer-centric strategy in a Blue Ocean context is to create a unique offering that stands out in the market and attracts a new customer base. Furthermore, by focusing on the customer, companies can identify unmet needs and untapped markets that can lead to the creation of new demand. This approach allows companies to move away from competing in overcrowded markets (Red Oceans) where competition is fierce, and instead, create their own market space where competition is irrelevant.- The concept of customer-centric strategies in a Blue Ocean Strategy is essential for companies looking to break away from the competition and create new opportunities for growth. By understanding and prioritizing the needs of customers, companies can differentiate themselves in the market and ultimately drive success in the long term.
