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
A. increasing cost and maintaining perceived customer benefits.
B. lowering cost and maintaining perceived customer benefits.
C. lowering cost and increasing perceived customer benefits.
D. increasing cost and increasing perceived customer benefits.
Answer: lowering cost and increasing perceived customer benefits.