GROUP ASSIGNMENT: Make 2 lists and give summary at end. 1. Praises of the strategy 2. Criticisms of the strategy. Vote on team and decide.
Innovation- creativity is learnable
Systematic
Pattern
Theory and methodologies
Risk minimization
Analytical frameworks
Strategic alignment of the systems
What makes an innovation succeed/fail? Are there any similarities?
150 blue ocean creations more than 30 industries over 100 years
most companies are generally incremental improvements, small truly innovative moves. Smaller moves had huge profits. Much more room for profits with creativity.
Strategy military it’s about fighting over a piece of land that is fixed and constant. The gain of one army comes at the expense of the other one. 0 sum game, win and loss. Business terms market demand is a given, environmental conditions are a given. Demand, competitors start fighting over market demand. Market demand as a pie, aim to get a bigger slice of the pie. RED. Sharks in the ocean fighting for the same demand. Conventional competition based.
BLUE no rivals or competitors. Profitable growth, need to become creative.
Unsustainable cost structure
High fixed costs
STRATEGY CANVAS horizontal- industry believes is important to audience
Challenging what the industry believes in.
Look outside of the market to bring in “non-customers”
Strategic logic of all innovative moves that became successful
Eliminate what wasn’t important to the buyers, not the customers
Increased value for the buyers
Strategic alignment of all three propositions makes good blue ocean strategy- INNOVATION CAN BE GOOD.
Value proposition from buyers
Profit proposition
People proposition-
Graduate School Blue Ocean Strategy Case Study Course: MRKT4001, Period 3,Tues/Thurs Jiawei Lai April, 29,2014 Cirque du Soleil did not make money by competing the confines of the industry or stealing customers from other rivals, they create uncontested market space that makes the competition irrelevant. It attracted a whole group of new customers. By using the blue ocean strategy, Cirque has increased its…
Blue Ocean Strategy Executive Summary The business universe consists of two distinct kinds of space, which we think of as red and blue oceans. Red oceans represent all the industries in existence today, the known market space. In red oceans, industry boundaries are defined and accepted, and the competitive rules of the game are well understood. Here, companies try to outperform their rivals in order to grab a greater share of existing demand. As the space gets more and more crowded, prospects…
Blue Ocean Strategy In 1984, one of Canada’s largest cultural exports was spawned by a group of street performers and in no more than 20 years, this company has achieved unbelievable revenues. But, in according to: * Cirque’s rapid growth is unlikely to set * The circus business is in long-term decline * The industry was hit decreasing audience and increasing cost * Nowadays, children are more interested in playing games than circus How did Cirque increase their revenues…
Blue Ocean Strategy Gina Leigh Moore University of Phoenix MKT/421 Instructor: Michael Raasch 03/02/2015 Blue Ocean Strategy In today’s business world, most companies are trying to figure out the best way they can compete with their contenders. However, there is a theory which states that companies should instead be focusing on how they can compete with themselves. This theory is most commonly known as the Blue Ocean Strategy. The first notion of the Blue Ocean Strategy was first brought to light…
Blue Ocean Strategy Terrica L. Brown MKT/421 January 8, 2015 Walter Crockett Blue Ocean Strategy The blue ocean strategy is considered the approach in marketing to develop and built business based on an unknown market. The blue ocean strategy is based upon a company that is built for a new market. This will allow a firm to grow within the community and offer a new product or services to customers. According to Chan and Mauborgne (2004) “There are two ways to create blue oceans strategy”. The…
Blue Ocean Strategy MKT/421 Blue Ocean Strategy Marketing consists of blue ocean and red ocean strategy when it comes to products and services. This distinction is made on a case by case basis and depends greatly on innovations in the world and the services being provided. Blue ocean strategy means coming up with a product that does not yet exist. This can be seen throughout history. Look back at the marketing and invention of the automobile. But it all started with the steam engine…
Blue Ocean Strategy Paper MKT 421 December 22, 2014 Blue Ocean Strategy is a non-traditional business strategy in which companies create new industry or market areas as opposed to competing within an existing market that is already saturated with competition. According to Chan, most industries as we know then exist within a Red Ocean sector of business strategy. In the Red Ocean, businesses compete against each other to gain market share or to gain a competitive advantage against other competitors…
red and blue oceans. Red oceans represent all the industries in existence today-the known market space. In red oceans, industry boundaries are defined and accepted, and the competitive rules of the game are well understood. Here, companies try to outperform their rivals in order to grab a greater share of existing demand. As the space gets more and more crowded, prospects for profits and growth are reduced. Products turn into commodities, and increasing competition turns the water bloody. Blue oceans…
Blue Ocean Strategy Michelle Webb MKT/421 21 April 2015 Professor Phyllis Levith Blue Ocean Strategy concept was derived from a book that was written by W. Chan Kim and Renee Mauborgne title Blue Ocean Strategy (2004). The Blue Ocean Strategy concept describes how organizations should strive to obtain ways to work in a market place where there is not a lot of competition. Kim and Mauborgne stated how organizations can succeed without having to battle the competition. In order to succeed…
Strategic Principle Draft a working strategic principle: It’s All in a Phrase Strategy Principle: High-quality and customer-oriented firm that penetrates current market and probes for new markets opportunities. Looking at the starting financial and accounting statements from Period 0, we can clearly see that Firm C is a relatively small firm amongst the industry with the top notch technology build up. Thus the most logical strategy is to target the Luxury segments of the customers seeking new and innovative…
