Markides‚ 2008). Kim and Mauborgne (2004) and Porter (1996) in their studies articulate the strategy as the process
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BU.450.710.52 – Tesla’s Blue Ocean Strategy – Page 1 TESLA: A BLUE OCEAN MARKETING STRATEGY Matthew Gazda‚ Vanessa Granville‚ and Ryan Schupp Marketing Strategy BU.450.710.52 Johns Hopkins University May 8‚ 2014 BU.450.710.52 – Tesla’s Blue Ocean Strategy – Page 2 Executive Summary Tesla is an innovative electric car manufacturer that intends to overturn the current gaspowered vehicle industry. CEO Elon Musk has masterminded a product that will compete
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Blue Ocean Strategy Plan MKT/421 Introduction In today’s competitive market where companies attempt to outperform one another by creating a brand new product or adjusting an existing product in attempts to appeal to a larger customer base are referred to as a Blue and Red Ocean strategy plans; “Red Oceans represent industries in existence today‚ and the industry boundaries are defined‚ accepted‚ and the competitive rules of the game are understood. Blue oceans denote all the industries
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McDonald’s using Blue Ocean Strategy McDonald’s is using Blue Ocean Strategy (BOS). Blue Ocean Strategy states that an organization can produce higher growth and profits by creating new demand in an uncontested market space than by competing head-to-head with other suppliers for known customers in an existing industry. First‚ McDonald’s is using the value innovation concept of BOS. By this‚ McDonald’s believe that product/service differentiation and lower cost are achievable simultaneously. The
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Outline the main components of Kim and Mauborgne’s (2004) concept of ‘Blue Ocean Strategy’. Critically assess the strengths and limitations of this approach to pursuing competitive advantage. Use relevant examples to support your argument. Introduction In the contemporary hostile business environment‚ innovation has become part of any company’s paramount strategy for continuous survival. Nokia‚ despite being the world’s largest mobile phone manufacturer having a large customer base‚ realized how
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Blue Ocean Strategy Paper Julian Nicholson MKT/421 January 15‚ 2015 Terry Dunning Blue Ocean Strategy Paper Blue Ocean Strategy Pertinence Blue Ocean Strategy is a concept in which authors W. Chan Kim and Renee Mauborgne devised. They then wrote a bestselling book called you guessed it‚ Blue Ocean Strategy. In this book the authors expound upon at great length‚ the benefits for business owners to leave the red ocean. Red Ocean is a term used for what is known as the waters
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Question one: The most important thing when identifying strategy is to distinguish it from operational effectiveness. For the failure to distinguish between operational effectiveness and strategy is in many cases the main cause to why a company can’t sustain their competitive advantage between its rivals. The mix up is understandable; they are both essential to superior performance‚ however in the same time they work in very different ways. Operational effectiveness is performing different activities
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Blue Ocean Strategy: Blue Ocean Strategy is not about out-performing the competition in the existing industry‚ but to create new market space or a blue ocean‚ thereby making the competition irrelevant. In the assignment we will try to analyze the success of Yes Bank through the framework of Blue Ocean Strategy 1. Value Innovation: Value innovation is the simultaneous pursuit of differentiation and low cost. Yes Bank‚ which started in 2004 without any institutional‚ has a formidable task
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Wikipedia: A Blue Ocean Strategy Section A: Group 4 Analysis of Wikipedia‚ as a Blue Ocean Strategy Wikipedia‚ the collaboratively edited free internet encyclopaedia is a household name. Launched in 2001 by Jimmy Wales and Larry Sanger‚ it has now grown to be the seventh most visited website with approximately 365 million users worldwide. How is it that the small encyclopaedia market grew more than a hundred times in the space of 8-10 years and changed its orientation in such a path breaking
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It is important‚ as a part of any companies’ Blue Ocean Strategy‚ to explore the three tiers of non-customers‚ the buyers’ utility map and experience cycle‚ and uncover the blocks to buyers’ utility. As companies explore the three tiers of their non-customers they may be able to uncover an untapped potential for customers. The three tiers of non-customers identifies what customers are not purchasing a product or service you offer‚ as well as why they may not be part of your current consumer group
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