Blue Ocean Strategy Paper February 2, 2015 MKT/421 Ellen Carter Within the world of business it can be considered a battlefield. Companies in the same industry are in constant battle with each other. They are competing every day for the same customers, trying to outwit the other with every move they make. This strategic way of business is referred to as the red ocean strategy. Companies focus on building advantages over their competition, taking whatever a competitor does and attempting to
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Blue ocean strategy The maturity of an industry has brought a company swimming in a red ocean, which means price war strategy, according to a bestseller book titled Blue Ocean Strategy that is written by W. Chan Kim and Renee Mauborgne. This situation influences the way a company evaluates its strategies and effectiveness regularly. Each company has a particular business culture, which is suitable only for the company in a specific industry. This condition may not be suitable when the industry changes
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Mauborgne authors 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 boundaries
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“Have you caught the wave?” For those who have not heard this quote before, it is associated with a strategic strategy known as Blue Ocean Strategy; Blue Ocean was coined by W. Chan Kim and Renee Mauborgne. In this strategy, the authors use the term “blue ocean” to get people to envision creating their own “blue oceans” which is often thought of as untouched and deep. This is the exact opposite of the beliefs of other strategies like Porter, D’Aveni, and Moore who work within the current market to
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Blue Ocean Strategy Ashleigh Philbrick MKT 421 February 18th, 2015 Professor Edward Mendicino Blue Ocean Strategy The blue ocean strategy in marketing is a unique approach to building a customer base. Rather than try to compete in a crowded marketplace with existing companies, a blue ocean strategy looks to build an entirely new market segment that has no other existing firms. With the rapid growth of technology and globalization, the importance of a blue ocean strategy has grown in recent years
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Blue Ocean Strategy Effectively marketing a product or service can be the difference between success and failure. Companies who offer products or services that no other company can compete with are the easiest way to be successful if consumers found the product or service valuable. Coming up with a way to create value by marketing a product differently is one blue ocean strategy. This paper will explain the blue ocean strategy; highlight an example of the strategy and an alternative red ocean move
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STRATEGIC MANAGEMENT ASSIGNMENT # 5 BLUE OCEAN STRATEGY October 24, 2014 Case Study Question 1 Critically analyze the case. Solution 1 In this case study, the author has discussed different methods and strategies which global firms are adapting to achieve success and to grow exponentially in their relevant industries. This article has focused on two strategies, Red Ocean and Blue Ocean particularly. These strategies are used to define the environment a firm is operating in and to
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Blue Oceans for Miniclip What is Blue Ocean Strategy? Blue Ocean Strategy is a study conducted by W. Chan Kim and Renée Mauborgne. It was based on 150 strategic moves in business after the in depth analysis of more than 30 different evolving industries over the period of more than 100 years. In a nutshell, the study focuses on achieving the success in businesses not by battling hard with the competitors, but creating new opportunities, discovering new markets and forming new industries. It
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(full list here). This book is divided in to three different parts: * Part One: Blue Ocean Strategy * Part Two: Formulating Blue Ocean Strategy * Part Three: Executing Blue Ocean Strategy I'm going to introduce all the three parts straight from part one to part three. Part One (chapters 1-2) The first part introduces readers to books basic and the most important terms. The cornerstone of the blue ocean strategy is Value Innovation. It practically says that rather than concentrating
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Blue Ocean Strategy Trenton Gatling MKT/421 May 4, 2015 Jose Medina Blue Ocean Strategy presents a systematic approach to making the competition irrelevant and outlines principles and tools any organization or new businesses can use to create and capture their own blue oceans. (blueoceanstrategy) The Blue Ocean Strategy is a direction that a new business entering into the market can utilize to maximize profits and eliminate worries about competition. This concept is based on the fact that
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