BLUE OCEAN STRATEGY With Supply outpacing Demand in more and more industries each day, today companies find themselves competing for a share of the contracting markets. The question looming large is whether businesses ought to address competition as their main issue or direct their focus elsewhere? While the “five forces” analysis lays emphasis on outperforming competition in order to capture greater share of the existing demand, Blue Ocean Strategy belies competition and believes in creating uncontested
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Blue Ocean Strategy MKT/421 29 July 2014 Blue Ocean Strategy The Blue Ocean Strategy is a phase started by two professors by the writing of their book in 2005. Those two professors were W. Chan Kim and Renee Mauborgne. The term simply means the market is essentially wide open like a blue ocean. In a blue ocean market a company basically has no competition or operates in an uncontested market. This essentially is trying to make a monopolistic market. This is the opposite of the Red Ocean
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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
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The Blue Ocean strategy in marketing is a unique approach to building a customer base. Instead of trying to compete in an overcrowded marketplace with existing companies, a Blue Ocean strategy seeks to build an entirely new market area. With the rapid growth of technology and globalization, the importance of a Blue Ocean strategy has grown in recent years. The “Blue Ocean strategy” is a term that originated from the 2005 book, The Blue Ocean Strategy, by W. Chan Kim and Renee Mauborgne that describes
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LITERATURE REVIEW BLUE OCEAN STRATEGY BY W. CHAN KIM AND RENÉE MAUBORGNE Mirko Hagendorf AGENDA I. Introduction of authors II. The Blue Ocean Strategy Definitions of Red and Blue Oceans Characteristics Summary Success and examples III. Critical reflection of the strategy IV. Discussion and questions 2 I. INTRODUCTION OF AUTHORS W. Chan Kim & Renée Mauborgne Work together at INSEAD (Institut Européen d´Administration des Affair, France) Both as Co‐Director of “INSEAD Blue Ocean Strategy Institute”
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Introduction & Background Blue ocean strategy was published in Oct 2004 by Harvard Business Review. Written by W. Chan Kim and Renee Mauborgne, the article became one of the most popular articles in the history of HBR. Although the article has been appreciated by academicians, workers, corporate honchos, consultants alike, there are many flaws in the article which remain unattended to. Kim and Mauborgne studied about one hundred fifty positions made from 1880 to 2000 in more than thirty industries
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called Ў§ChocolateЎРfor the competition, and tried to use its new marketing strategy for spreading into a new market place that no one has took up before. This report first of all will start from over viewing LG Company and its strategy by present. Secondly will go into specifically to analyze the strategy which on launch its Ў§ChocolateЎРmodel and its competitors, and also to analyze the feasibility of its strategies through understanding its strength and weakness. Finally, the report will apply
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Blue Ocean Strategy Summary by Jay Robinson Source: Blue Ocean Strategy by W. Chan Kim & Renée Mauborgne Red Ocean: Companies compete for customers Chapter 1 Blue Ocean: Company creates new market Chapter 1 Value Innovation Decrease costs GOAL Increase value to consumer Chapter 2 Analytical Tools and Frameworks • Strategy Canvas • Four Actions Framework • Eliminate-Reduce-Raise-Create Grid 3 Characteristics of Blue Ocean Strategy 1. Focus 2. Divergence 3. Compelling
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Blue Ocean Strategy Melissa Keck June 5, 2014 MKT421 Dr. Linda Murawski Blue Ocean Strategy Competing in overcrowded industries such as technology is no way to sustain high performance. The real opportunity is to create blue oceans of uncontested market space. The Apple Ipad and Kindle Fire would be considered Blue Ocean products as oppose to Red Ocean products. Apple achieved a worthy invention by designing the Ipad, which led to the creation of a new market space. Apple intrigued consumers
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Blue Ocean Strategy Danny Speed MKT/421 23 June 2014 Stephen Grothe Blue Ocean Strategy There are many different strategies in the market today that assist a company with getting ahead of the competition. Blue and red ocean strategies are important in this regard. A company can utilize the objectives outlined in these strategies to exceed their own expectations, as well as those of their competitors. One way to differentiate between the two strategies is that using blue ocean strategy
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