Opportunity Recognition

Question 1

What is blue ocean strategy?

Answer 1

Red ocean: multiple “sharks” in the water (a lot of competition)

Blue ocean: open water (no competition from other “sharks”)

Question 2

What is the difference between end users and customers?

Answer 2

Sometimes end user is not same person paying for product or service.

Example: Toyota or Ford car manufacturing
- Drivers are end users.
- Dealerships are customers.
Example: Twitter social media
- Tweets and content are provided by end users.
- Advertisers and data purchasers are customers.

Question 3

What are value curves?

Answer 3

• Help you to understand value proposition

- Show where you differ from NBAs and how you might capitalize on differences

Question 4

What are the parts of the consumption chain?

Answer 4

• Become aware of their need?
• Store it?
• Find your offering?
• Move it around?
• Make their final selection?
• Really use it?
• Order and purchase?
• Get help?
• Get it delivered?
• Return and exchange?
• Experience delivery?
• Repair and service it?
• Install product?
• Dispose of or discard it?
• Pay for it?

Question 5

What are the 5 questions you ask at every step of the consumption chain?

Answer 5

• What?
• Where?
• Who?
• When?
• How?