Blue Ocean Strategy Research Paper
Blue Ocean Strategy
Rebecka McCollough MKT/421
January 21, 2015
Nikki Butler
Blue Ocean Strategy When thinking about opening a business, you have to look at whether you want to compete in existing markets or create a new market for your product. When you compete in existing markets, you will find many of them are overcrowded and your business will not flourish in this environment. You should want your business to stand out and become profitable, that is what Blue Ocean Strategy encompasses. It is a new way at looking at the market and based on analysis. This strategy is a new type of mindset, a strategic marketing tool and a new way into the future for new businesses. This paper will discuss the Blue Ocean Strategy and its importance; a product or service that might be considered a blue ocean move and why; and an alternative red ocean move for the same product or service along with the pros and cons of that strategy.
Blue Ocean Strategy and its Importance The Blue Ocean Strategy is a new way of thinking about opening a business and the marketplace in which this business will compete. It is a strategic mindset that is bold and new that will open up doors for new business …show more content…
When Apple entered into the personal computer market, they were not very successful. Apple then came out with the iPhone, iPad, and iPod and was very successful (Demand Media, Inc., 1999-2015). They stepped out of the competition market for personal computers and entered a market that they made all their own with little to no competition. This example is a success story of a company entering into the blue ocean and succeeding. Another example of this is Netflix, they
Dominate the industry for online watching of movies and TV shows. Netflix has no real competitors and they are able to keep their costs low which appeals to
Rebecka McCollough MKT/421
January 21, 2015
Nikki Butler
Blue Ocean Strategy When thinking about opening a business, you have to look at whether you want to compete in existing markets or create a new market for your product. When you compete in existing markets, you will find many of them are overcrowded and your business will not flourish in this environment. You should want your business to stand out and become profitable, that is what Blue Ocean Strategy encompasses. It is a new way at looking at the market and based on analysis. This strategy is a new type of mindset, a strategic marketing tool and a new way into the future for new businesses. This paper will discuss the Blue Ocean Strategy and its importance; a product or service that might be considered a blue ocean move and why; and an alternative red ocean move for the same product or service along with the pros and cons of that strategy.
Blue Ocean Strategy and its Importance The Blue Ocean Strategy is a new way of thinking about opening a business and the marketplace in which this business will compete. It is a strategic mindset that is bold and new that will open up doors for new business …show more content…
When Apple entered into the personal computer market, they were not very successful. Apple then came out with the iPhone, iPad, and iPod and was very successful (Demand Media, Inc., 1999-2015). They stepped out of the competition market for personal computers and entered a market that they made all their own with little to no competition. This example is a success story of a company entering into the blue ocean and succeeding. Another example of this is Netflix, they
Dominate the industry for online watching of movies and TV shows. Netflix has no real competitors and they are able to keep their costs low which appeals to