Question

A blue ocean strategy tends to be successful only if a firm is able to rely on a _____ that allows it to reconcile trade-offs.

a. value driver
b. value innovation
c. product feature
d. product complement

Answer 1

This only works if the company can use value innovation. This concept allows for a company to create something that differentiates itself from the rest of the market as well as lowering the costs required to create that product. By doing so, the company can create products that are not offered by any competitors, creating value for the customer.