Chapter-5: Reach Beyond Existing Demand How do you maximize the size of the blue ocean you are creating? This chapter provides a guide to reaching beyond existing demand‚ encouraging companies to challenge the conventional strategy practices of focusing on existing customers and finer segmentation to accommodate buyer differences. Instead of concentrating on customers‚ companies need to look to noncustomers and build on powerful commonalities in what buyer’s value in order to unlock new markets
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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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Critical discussion of “How Strategy shapes Structure” of Kim C.W and Mauborgne M. Apart from the conventional way of thinking‚ planning and acting in the context of forming structuralist strategies‚ the authors have portrayed a comparative analysis between the latter and reconstructionist strategies which actually shift from either low cost or differentiation dilemma to both cost and differentiation management. In turbulent times‚ strategy overall should be adaptive and flexible or - as frequently
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Federica Galfo M38/000789 Stefano La Cognata M38/000799 Tetyana Koptyayeva M38/000695 BLUE OCEAN STRATEGY Chan Kim and Renée Mauborgne “ Blue Ocean strategy” “How to create uncontested market and make competition irrelevant” BLUE OCEANS = unknown market spaces with few competitors Blue Ocean strategy VALUE INNOVATION (Differentiation) = Search for “Blue Oceans” • Exploring non customer groups • Challenging the industry’s strategic logic FOUR ACTIONS FRAMEWORK Key questions a company should
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1) Market readiness (cfr. reading material and PPTs class 1‚ 2 and 4): How would you appraise and distinguish Netflix’ on-line movie rental offer compared to Blockbuster‚ Wal-Mart‚ Amazon and others‚ e.g. in terms of user-responsiveness‚ price/(added) value-for-money‚ delivery/convenience‚ …? Max. 40 lines Netflix had developed in the early days of its activity a different approach towards the movie rental industry. First of all‚ the main advantage that Netflix has regarding its competitors
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------------------------------------------------- Case Introduction and Challenges ------------------------------------------------- Chongqing‚ a city in central southwestern China‚ had a heritage in heavy manufacturing‚ as it was one of the centers of the Chinese defense industry‚ especially for vehicles. In 1980s‚ when the Cold War slowed‚ the central government wanted to reduce defense expenditure and asked some of the state owned enterprises (SOEs) to begin manufacturing civilian products
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Japanese ones‚ most of the Chinese manufacturers were also able to make them. The lack of product differentiation encouraged Zongshen to follow a low price strategy. However‚ after Zuo Zongshen the chairman and CEO of the company read the “Blue Ocean Strategy”‚ he figured out the company should not only be selling low margin products on “red ocean” markets. Zuo Zongshen therefore made the decision to stop the launching of Japanese-like low quality motorcycles and to develop a whole new motorcycle‚ thus
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their own magazine Redbulltin into the US with a 4.8 global distribution https://www.youtube.com/watch?v= WQbHRVOfcM Days of my youth + Red bull Red bull sells drinks instead of ads Thy are an exception of the rule. Blue ocean vs. red ocean strategy Red bull Media house created its own market and therefore competitors .E.g: ( burger king and American express.) The brand has engaged its core male 18-to-34 $471 million in U.S. sales in 2011‚ an increase of 11.9% from 2010
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Week 3 – The Balanced Scorecard – Kaplan and Norton Squeaky Brakes focused mainly on financial perspective of our business‚ ignoring operational aspects. However‚ Kaplan and Norton suggest that there are four perspectives‚ which must be considered. * How do customers see us? (customer perspective) * What must we excel at? (internal perspective) * Can we continue to improve and create value? (innovation and learning perspective) * How do we look to shareholders? (financial perspective)
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Blue Ocean Strategy Paper Abdullah Durani MKT/421 9/3/14 Gwendolyn Mclain Introduction In a marketplace that is always changing and very competitive‚ it can be very hard for a company or organization to set themselves apart from the competition. Companies are constantly aiming to beat out their competitors‚ win over customers‚ and obtain a product that is more desirable than the next companies. These companies are involved in a constant back and forth battle that can be very costly
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