In a footrace, the runner always wants to win, but, in orderto train, the runner must focus on besting his or her own time rather than onthe competition. In business, as well, focusing on the...

The marketers in the current scenario are more into delighting their customers, though
they rarely examine its strategies and their execution. Consumer’s impulse to punish companies
providing bad service and tendency of punishing bad service by consumers is more than the
tendency of rewarding good service. Conventional wisdom of loyalty describes that customers
show loyalty towards companies and brands that tend to go above and beyond others.
The companies in the current scenario tend to use Blue Ocean strategy to outperform
competition and win the market share. The three most important building blocks of Blue ocean
strategy are Value innovation, fair process, and tipping point leadership. The main tools involved
by a Blue ocean strategy framework are value curve, buyer utility map, , buyer experience cycle,
four actions framework, strategy canvas, six paths and blue ocean idea index. The three strategy
propositions which each company need to develop in order to implement Blue Ocean Strategy
are People Proposition, Value Proposition and Profit Proposition (Blue Ocean Strategy, 2010).
Value innovation is an important aspect of Blue Ocean Strategy. The main objective of Value
Innovation is creating value for the customer as well as the company by...