-FOUR ACTIONS FRAMEWORK-
ELIMINATE-What factors can you eliminate that your industry has long competed on?
REDUCE-Which Factors should be reduced well below the Industry’s Standard?
RAISE-Which Factors should be raised well above the industry’s standard?
CREATE-Which Factors should be created that the industry has never offered?
This is called the Blue Ocean Strategy.
The first goal is to lower costs by reducing or eliminating less valuable features or services.
The second goal is to enhance or create high-value features or services that do not significantly increase the cost base.