Task: Based on Blue Ocean Strategy, answer the following:
Think of a new type of product (good or service) to launch and answer the following questions:
1. Does market takeoff depend on the development of complementary goods or services that currently are not available?
2. Is new infrastructure required before buyer demand can surge?
3. Will buyers need to learn new skills or adopt new behaviors?
4. Will buyers encounter high switching costs in moving to the newly introduced product?
5. Are there influential competitors in a position to delay the efforts of a first-mover?
(Thompson, Peteraf, Gamble, Strickland III, 2014)
3. Based on your responses to the above 5 questions, do you believe your product would make a better first- mover or should you wait until the market is further developed?