Blue Ocean Strategy MKT/421 Blue Ocean Strategy Blue Ocean Strategy is a book written by W. Chan Kim and Renee Mauborgne. It describes how organizations should try to find a way to work in a market place that has not a lot of competition. The authors write about how main companies can succeed without battling competition. The company will succeed by creating a “blue ocean” market space ripe for growth. The strategy behind Blue Ocean is to find differentiation. Theoretically it helped a company
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Name Tutor Module Date Blue Ocean Strategy There are two types of business environments; there are those with defined and accepted industry boundaries that encourage competition for the same market hence demand and supply forces determine market prices for commodities. These are referred to red oceans because the increased competition in the market bloodies the water. By contrast, there are those unknown and undefined market spaces, where demand is created and businesses supply a completely
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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 Lea De La Rosa MKT/421 July 7, 2014 Catherine Lovett Blue Ocean Strategy We live in a very competitive country, let alone world. Companies are always bidding for business and trying to outdo the competition by offering sensible deals or getting celebrities to promote their product to show that they have their “buy in”. We are constantly torn between products and pulled in different directions due to aggressive advertising. In the blue ocean strategy, the competition
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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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Introduction Blue Ocean strategy describes how organization should try and find a way to work in a marketplace that isn’t full of competition and not full of competitors. It is important to understand the importance of the blue ocean strategy. By being able to understand the importance of the blue ocean strategy, I can then identify a product or service that would be considered a blue ocean move. Since there is an opposite strategy of the blue ocean strategy called a red ocean move, it is important
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Blue Ocean Strategy MKT 421 Name Date Instructor Blue Ocean Strategy Description and Significance According to Cham Kim and Renee Mauborgne (2004), the Blue Ocean strategy involves the description of how the organization should try and proceed to find some way to work in the marketplace that is not bloodied by the competition and also that is free of competitors. The strategy is against working in conditions such as Red Ocean, where businesses are ferociously
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of BLUE OCEAN STRATEGY 1) What is a blue ocean strategy? Kim & Mauborgne: Blue Ocean Strategy is a way to make the competition irrelevant by creating a leap in value for both the company and its customers. 2) What are red and blue oceans, and why do you use the colors red and blue? Kim & Mauborgne: We use the terms red and blue oceans to describe the market universe. Red oceans are all the industries in existence today—the known market space. In the red oceans, industry
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Blue Ocean Strategy Shakira Mays MKT\421 Anissa Upshaw July 28, 2014 Blue Ocean Strategy When starting a business, there are several factors that an organization must consider. These factors include the type of product or service they would like to offer, the target market, as well as the price. New organization or organization is trying to recreate themselves also need to think about their competition. Competitors are the driving force for any organization; each company must one up the
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Blue Ocean Strategy (your name) MKT/421 (due date) (instructor name) Blue Ocean Strategy A blue ocean is uncontested market space that does not exist now, but will in the future. Blue ocean strategy refers to innovation and development of products and services that have not been offered previously. It is a method of systematically pursuing differentiation and low cost and effectively making the competition irrelevant. “Blue ocean strategy describes how organizations should try and find a
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