To initiate a strategic move that allows a firm to open up new and uncontested market space through value innovation, managers must address four key questions when formulating a blue ocean business strategy. These questions focus on Multiple Choice lowering cost and maintaining perceived customer benefits. lowering cost and increasing perceived customer benefits. increasing cost and increasing perceived customer benefits. increasing cost and maintaining perceived customer benefits.

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29-07-2022
Business

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To initiate a strategic move that allows a firm to open up new and uncontested market space through value innovation, managers must address four key questions when formulating a blue ocean business strategy. These questions focus on Multiple Choice lowering cost and maintaining perceived customer benefits. lowering cost and increasing perceived customer benefits. increasing cost and increasing perceived customer benefits. increasing cost and maintaining perceived customer benefits.

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jaquelinefvr jaquelinefvr · Answer 1 · 2022-08-05T19:44:40+02:00

The correct option is: lowering cost and increasing perceived customer benefits. To initiate a strategic move that allows a company to open up new and uncontested market space through value innovation.

What is a value innovation strategy?

It corresponds to a strategic planning that institutes organizational actions to achieve market goals, from positively changing consumer perception, creating essential benefits, such as quality, design and lower price than competitors.

Therefore, value innovation is a favorable strategy for organizations to develop innovative marketing aligned with the desires and needs of potential consumers, generating positioning and competitive advantage for the company.

Find out more about value innovation here:

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