Blue Ocean Strategy
Blue Ocean Strategy
Oluwatosin Odunlami
MKT/421
December 11, 2014
Marc Lyncheski
Blue ocean strategy can be described as an approach taken by an organization in order to develop a solid customer service. When an organization do this, it gives them an opportunity to avoid a crowded market place that is filled up with competition by various existing companies, when a company comes up to build a new market division that does not consist of any other existing businesses is also a blue ocean strategy. Blue ocean strategy has developed so fast in recent years because companies and businesses are moving fast into new globalization, networking and technology. The importance of blue ocean strategy could be met by every organization by putting into consideration the four Ps of marketing which are; price, promotion, product and placement. However, it is very important in any business organization to give consumers a valued proposal. For example, a company can decide to sell their goods at a reduced price or at the best quality than what other companies has to offer. Blue ocean strategy is when an organization is working so hard in introducing a new market environment which will be free for different competitors. The public sector needs to be coached thoroughly about new product so that businesses can gain their confidence. As soon as all these is achieved the new product can then be placed properly with no alternatives, this will equally make the branding more effective for utilization. There have been various kinds of blue ocean moves that have been recognized in today’s businesses, especially in modern technology. For example, Apple is a very good example of a Blue ocean strategy when it came into existence in 2003 it moved into digital as a distributor and provider with its innovative experience by creating iTunes as an online product to enable everyone gain access in downloading high quality music at very low and
Oluwatosin Odunlami
MKT/421
December 11, 2014
Marc Lyncheski
Blue ocean strategy can be described as an approach taken by an organization in order to develop a solid customer service. When an organization do this, it gives them an opportunity to avoid a crowded market place that is filled up with competition by various existing companies, when a company comes up to build a new market division that does not consist of any other existing businesses is also a blue ocean strategy. Blue ocean strategy has developed so fast in recent years because companies and businesses are moving fast into new globalization, networking and technology. The importance of blue ocean strategy could be met by every organization by putting into consideration the four Ps of marketing which are; price, promotion, product and placement. However, it is very important in any business organization to give consumers a valued proposal. For example, a company can decide to sell their goods at a reduced price or at the best quality than what other companies has to offer. Blue ocean strategy is when an organization is working so hard in introducing a new market environment which will be free for different competitors. The public sector needs to be coached thoroughly about new product so that businesses can gain their confidence. As soon as all these is achieved the new product can then be placed properly with no alternatives, this will equally make the branding more effective for utilization. There have been various kinds of blue ocean moves that have been recognized in today’s businesses, especially in modern technology. For example, Apple is a very good example of a Blue ocean strategy when it came into existence in 2003 it moved into digital as a distributor and provider with its innovative experience by creating iTunes as an online product to enable everyone gain access in downloading high quality music at very low and
References: www.marketingdeviant.com/blue-and-red-ocean-business-strategy.html www.brightjourney.com/q/believe-blue-ocean-strategy.html