Mkt 421 Blue Ocean Strategy
Blue Ocean Strategy Paper
Julian Nicholson
MKT/421
January 15, 2015
Terry Dunning
Blue Ocean Strategy Paper Blue Ocean Strategy Pertinence
Blue Ocean Strategy is a concept in which authors W. Chan Kim and Renee Mauborgne devised. They then wrote a bestselling book called you guessed it, Blue Ocean Strategy. In this book the authors expound upon at great length, the benefits for business owners to leave the red ocean. Red Ocean is a term used for what is known as the waters of competition where the fury of competition mirrors that of waters infested with sharks on a feeding frenzy. This is historically where the vast majority of businesses have found themselves. However in direct contrast the Blue Ocean Strategy …show more content…
Such products and or services indirectly impact the utility a consumer receives. Until as of late most businesses seemed to have tunnel vision and focused solely on their specific product and or industry, without asking what happens before, during, and after the use of their product or service. As an example Movie Theatre A decides to think outside their specific service and products sold at the concession stand. They use the Blue Ocean …show more content…
Although on the surface this move by a company may seem counterproductive, it does have some merit. This strategy will likely be used when introducing a product into an already saturated market when considering the low cost of marketing and educating the people on the company product. An example might be the introduction of a new brand of soda brand into the market that is dominated by Coca- Cola followed up by Pepsi. It is clear that the potential consumer will not need education about the product. Additionally it is evident that research costs will be greatly reduced as there is a plethora of data already available. However it is very unlikely that the new soda brand will make any real stake in the soda industry.
Conclusion
It is clearly evident that little or no competition and a vast amount of space is available for growth would be deemed advantageous for business vitality. For this reason the Blue Ocean
Strategy is being looked at by more and more business as a potential option for future growth of their specific organization. However any major move in direction by an organization brings about risks. Therefore any such move by an organization will likely take months if not years to
Julian Nicholson
MKT/421
January 15, 2015
Terry Dunning
Blue Ocean Strategy Paper Blue Ocean Strategy Pertinence
Blue Ocean Strategy is a concept in which authors W. Chan Kim and Renee Mauborgne devised. They then wrote a bestselling book called you guessed it, Blue Ocean Strategy. In this book the authors expound upon at great length, the benefits for business owners to leave the red ocean. Red Ocean is a term used for what is known as the waters of competition where the fury of competition mirrors that of waters infested with sharks on a feeding frenzy. This is historically where the vast majority of businesses have found themselves. However in direct contrast the Blue Ocean Strategy …show more content…
Such products and or services indirectly impact the utility a consumer receives. Until as of late most businesses seemed to have tunnel vision and focused solely on their specific product and or industry, without asking what happens before, during, and after the use of their product or service. As an example Movie Theatre A decides to think outside their specific service and products sold at the concession stand. They use the Blue Ocean …show more content…
Although on the surface this move by a company may seem counterproductive, it does have some merit. This strategy will likely be used when introducing a product into an already saturated market when considering the low cost of marketing and educating the people on the company product. An example might be the introduction of a new brand of soda brand into the market that is dominated by Coca- Cola followed up by Pepsi. It is clear that the potential consumer will not need education about the product. Additionally it is evident that research costs will be greatly reduced as there is a plethora of data already available. However it is very unlikely that the new soda brand will make any real stake in the soda industry.
Conclusion
It is clearly evident that little or no competition and a vast amount of space is available for growth would be deemed advantageous for business vitality. For this reason the Blue Ocean
Strategy is being looked at by more and more business as a potential option for future growth of their specific organization. However any major move in direction by an organization brings about risks. Therefore any such move by an organization will likely take months if not years to