Blue Ocean Strategy 1. What is a blue ocean strategy? What is a red ocean strategy? Explain these from the perspective of company‚ competition‚ costs‚ and markets. Blue oceans mean that one industry has not existed in the world. This is an unknown market space in the industry. In the market space‚ there has no competition or just a little competition. In blue oceans strategy‚ market demands come from innovation rather than fierce competitions. From the perspective of company‚ Blue ocean strategy
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Abstract Blue Ocean strategy is a consistent pattern of strategic thinking behind the creation of new markets and industries where demand is created rather than fought for and the rule of competition is irrelevant. This paper proposes a methodology to implement the Blue Ocean Strategy in a privately owned Malaysia industrial firm struggling in a very competitive market using different tools and techniques such as value curves‚ strategy canvas‚ six path method‚ four actions framework. The results
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What is Blue Ocean Strategy? by Nattida Sae-Iw MBA Student What is Blue Ocean Strategy? Let’s start with the metaphors To understand the term of Blue Ocean‚ imagine a market universe composed of two sorts of oceans: Red Oceans and Blue Oceans. Red Oceans represent the existing market space which is known market. Companies in red oceans are competitive-base; they are fighting each other and aim to get a bigger market share
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Electric cars‚ although now commonly associated with the Tesla brand‚ have in actuality been around for more than 100 years and have since then risen and fallen in popularity and efficiency. The electric vehicle was created initially to replace the inefficient steam and gasoline-powered vehicles of the 20th century‚ however‚ as the years progressed and the dangers of global warming and greenhouse gas became more evident‚ the purpose of the electric car transitioned into providing a better alternative
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we should switch to Electric Cars is because they could save the Environment we live in. Tam Hunt writes for the Future of the Electric car on Green teen media about Electric Cars having saver batteries. “Lithium batteries will probably start showing marginal improvements around that time: (Hunt) The Eco-friendly cars have safer batteries and other equipment. Electric cars are way safer than cars on gas. For example cars that run on file have caused many explosions during car accidents which have
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mile per hour speed on their electric cars but this was not plausible when running off of a battery. a.ii. When customers compare cars they don’t care much about the environmental risks they only care about the price‚ the miles per gallon‚ and the mileage range. Customers had a difficult time seeing the difference between regular cars and electric cars so there was not enough demand. b. Battery Technology (not guilty) b.i. Batteries were too weak to make the car go as far as consumers were hoping
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Product‚ Pricing‚ and Channels Paper MKT/421 - Marketing Blue Ocean Strategy Description of Blue Ocean strategy and its Importance The Blue Ocean Strategy is derived from the book “Blue Ocean Strategy” by W. Chan Kim and Renee Mauborgne. The book is based on a study of 150 strategic moves made by companies in 30 industries over 100 plus years. Per the book‚ the term blue ocean means untouched market space that makes competition none existent in a known industry. The term describes how ideal
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The traditional use of petrol cars is dominant in the automobile industry. It has become common for cars to be owned and ridden in the world today. This invention has allowed us to easily travel to one place to another and has greatly improved our system of transportation. However‚ we have failed to realize how much damage is being made to the environment by us humans. In an effort to improve the environment‚ we have now become aware of this. As a result‚ we have developed technology to reduce the
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on Blue Ocean Strategy The Blue Ocean strategy appears to be an ideal move in the market until I learned its own drawbacks. Its advice is to create an uncontested market space‚ meaning no competition. I consider it a head start‚ yet it would just be an amount of time before others stand at-level with you. A first entrant earns the early profit‚ and the second entrant will likely perceive the first as a platform and eventually overtakes the same firm. Another drawback of the blue ocean is the
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makes history. 36 Blue ocean vs Red Ocean The most efficient way to maximize the profits‚ a company needs to build an uncontested market space that makes the competition irrelevant. In 2004‚ Kim and Mauborgne published their study‚ where they analyzed 150 companies from 30 different industries over the time span of 100 years (Kim & Mauborgne‚ 2005). They named two type of different markets called Blue Ocean and Red Ocean. According to their report‚ only the companies in Blue Ocean has succeeded to
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