Blue Ocean Strategy MARKETING Individual assessment: Blue ocean strategy Do you think that the blue ocean strategy is a relevant tool to generate innovation, value and new customer? Summarize the benefits and the limitation of this strategy. What can corporate do to minimize the impact of this unavoidable imitation/competition? 1. Blue Ocean Strategy (BOS): Benefits, limitations and risks Blue Ocean Strategy signifies all the industries which are not in existence today. In this kind
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called the blue ocean strategy. The term describes how instead of working in settings known as the red ocean, where business are rigorously competing with each other for a percentage of the marketplace, businesses should try to find a place in the marketplace that is free of competition. The Blue Ocean Strategy argues that innovative companies will advance not by battling competitors, but by strategically creating “blue oceans” of uncontested market space ready for growth. Using the blue ocean strategy
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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 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 Robert Lowe Principles of Marketing December 2, 2013 Abstract For a long time many businesses have use a military strategy in order to find profit in an existing market. Fighting for a competitive advantage and battling competitors over a piece of the profit. Taking this head-on approach only leads to an overcrowded market with a shrinking profit pool. This is what the book calls a “red ocean”. Blue Ocean on the other hand wants you to look outside the box and make the
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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 Paper Anthony Dobson MKT/421 July, 2014 Nickolas Skelton Blue Ocean Strategy Paper A blue ocean strategy can be described as the ability to create uncontested market space and render the competition obsolete. This strategy provides a systematic way to unlock the ocean of unrealized talent, opportunities, and energy within an organization quickly and at a low cost. It can achieve all of this from a management standpoint while preserving time and efficiency. The aim of
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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 (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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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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