Blue Ocean Strategy Jaime Quintero MKT/421 March 23, 2015 Salomon Chavira Blue Ocean Strategy While businesses are continuously looking for techniques in which they can better cope with their rivals, one theory recommends they would be better off studying methods in which they are contending against no one but themselves. This is known as the blue ocean strategy. Blue Ocean Blue Ocean Strategy is a recently established marketing concept obtained from the devises of W. Chan Kim and Renée
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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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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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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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Visi Pramudia http://visipramudia.wordpress.com/ BLUE OCEAN STRATEGY Authors: W. Chan Kim – Renee Mauborgne How to Create Uncontested Market Space and Make the Competition Irrelevant Visi Pramudia http://visipramudia.wordpress.com/ I. THE STRATEGY Visi Pramudia http://visipramudia.wordpress.com/ New Market Space known market space RED OCEAN Represent all the industries in existence today BLUE OCEAN Denote all the industries not in existence today space Circus Industry
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Blue Ocean Strategy MKT 421 Blue Ocean Strategy Description of Blue Ocean Strategy and its 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
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Date: 02/05/2013 Article: Harvard, Blue ocean strategy “Competing in high overcrowded industries is no way to sustain high performance. The real opportunity is to create blue oceans of uncontested market place.” This quote that is on the top of the first page just about sums up the article, but I will go further in depth in what the article says. What is the best way to drive profitable growth in an industry? Or company? According to the article it is to enter into the market place that
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ANALYSIS The article in Harvard Business Review, Blue Ocean Strategy written by W. Chan Kim and Renee Mauborgne, gives an insight to how Cirque du Soleil has implemented a Blue Ocean Strategy when creating its business. This article provides examples for examining alternative purposes and approaches of Blue Ocean Strategies. It appraises the benefits that a Blue Ocean Strategy brings a company by expanding its growth and profit in a much faster speed. It achieves these benefits by creating new
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Blue Ocean Strategy In the article, two types of business space defined. First one is red ocean and other is blue. Red oceans are the markets and businesses we know. Rules of the existing markets are well defined. When all the variables are known and equally effect the players in the market, all players think somewhat the same thing and generate close strategies like in the game theory /prisoners dilemma. Generally, their options are in between differentiation and low cost. Either way companies
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