Blue Ocean Strategy Paper University of Phoenix Marketing MKT/421 Michael Wells June 10, 2014 Blue Ocean Strategy Paper Blue Ocean Strategy is a business strategy for businesses to overcome ones competition in a unique way that will separate themselves from the competition. According to Kim, W., & Mauborgne, R., “The blue ocean include the potential industries that do not exist at present and all the untapped market spaces and demand demographics that will take shape as and when such
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Blue Ocean Strategy Paper Roberta Willis Marketing/ MKT 421 Nick Okoro July 28, 2014 Today’s society is among one that is very competitive, and always trying to discover ways to beat out competition. This is typically done by advertising their products by celebrities so the consumers are more likely to buy. Due to the way products are promoted and advertised, it makes it harder for the consumer to make a decision on what to buy. Competing in over-crowded industries is not way to sustain
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Blue Ocean Strategy Paper Roberta Willis Marketing/ MKT 421 Nick Okoro July 28, 2014 Today’s society is among one that is very competitive, and always trying to discover ways to beat out competition. This is typically done by advertising their products by celebrities so the consumers are more likely to buy. Due to the way products are promoted and advertised, it makes it harder for the consumer to make a decision on what to buy. Competing in over-crowded industries is not way to sustain
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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 Shawn Good MKT/421 August 18, 2014 Mark McClintock Blue Ocean Strategy If a company wants to be an overachiever, sometimes a company needs to venture out in untested waters to see what can happen with a product or service it will offer. Companies can find out if what they are offering will be successful or not, instead of being complacent in companies doing the same thing. There are two strategies to companies doing something new called blue ocean strategy. Or the
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USPS Blue Ocean Strategy Business Plan Final MGT 670 Spring Semester Blue Ocean Strategy The Postal Service should pursue the Blue Ocean Strategy of becoming a nationwide data collection network. According to the United States Postal Service’s (USPS) website they have 211,264 total vehicles as of 2014. The U.S. Government Accountability Office states that the USPS has the largest civilian fleet of vehicles in the world. The USPS also has delivers to every address in the United States- this
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A market can be thought of as an ocean. The ocean can be divided into two segments: the red ocean and the blue ocean. The red ocean is comprised of existing market segments and this space contains all things in existence today. The competition in this space is fierce. Conversely, the blue ocean represents all things not in existence today or the opportunity to reengineer an established industry. The framework for formulating a Blue Ocean Strategy is explained in the following paragraphs. The
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Blue Ocean Strategy Blue Ocean Strategy The principle of a Blue Ocean Strategy is when a business reinvents itself within its given market to make them stand out as different from the rest of the competition. A company does this by an area within the market that is untouched or has low competition. According to Chan and Renee (2004) “Competing in overcrowded industries is no way to sustain high performance. The real opportunity is to create blue oceans of uncontested market space.” An example
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Blue Ocean Strategy 1. Introduction According to the well-known authors and management thinkers, W. Chan Kim and enee Mauborgne, ‘the only way to beat the competition is to stop trying to beat the competition’. According to them, the entire market universe can be divided into two oceans: Red Ocean and Blue Ocean. Red Ocean is representative of all such industries/products which already exist and are thus representative of the known market space. Blue Oceans denote the industries /products not
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vast majority of companies focus on stating in the “red ocean” as they are fighting over customers in the same market share. This author explains the reason behind this is that most companies use “competition-based red ocean strategies which has also seen them cut cost and take market share from rivalry competitors. As oppose to focusing on the “ red ocean” Kim and Mauborgne (2004) mention company’s need to begin shifting toward the “blue ocean” if they want to succeed. This can be achieved by offering
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