Buyer Utility Map

The video tutorial explains the Blue Ocean Strategy, focusing on the buyer utility map and its role in identifying new market opportunities. It details the stages of buyer utility and the six utility levers, which include customer productivity, simplicity, convenience, risk reduction, fun and image, and environmental friendliness. The tutorial emphasizes plotting these utility aspects to understand customer value better and explore new market segments.

What is the first step in implementing the Blue Ocean Strategy?

• Setting an adequate price

• Creating a buyer utility map

• Developing a cost structure

• Identifying new market segments

Which stage of buyer utility involves becoming familiar with the value offering?

• Purchase

• Orientation

• Evaluation

• Disposal

At which stage does the buyer extract utility from the product or service?

• Maintenance

• Orientation

• Purchase

• Use

Which utility lever focuses on how easy it is to use a product?

• Customer productivity

• Environmental friendliness

• Simplicity

• Risk reduction

How can plotting utility levers help businesses?

• By improving customer service

• By reducing production costs

• By identifying new market segments

• By increasing product prices