What is Blue Ocean Strategy PDF?
Blue oceans strategy is the approach that suggests a company is better off searching for ways to play in uncontested market places instead of engaging with competition in existing marketing spaces. … An exmaple of a blue ocean strategy is Netflix.
What is Blue Ocean Strategy give examples?
The strategy aims to capture new demand, and to make competition irrelevant by introducing a product with superior features. It helps the company in make huge profits as the product can be priced a little steep because of its unique features. Let’s understand Blue Ocean strategy with the help of an example.
Is Amazon a blue ocean strategy?
Elements of a Blue Ocean Strategy
Strategies such as their Kindle E-Reading solution, Drone Delivery, Cloud Based Computing, Amazon Prime, or One Hour Delivery are all examples of Amazon creating uncontested space (ie. Blue Oceans) in which to compete far away from anything their competitors can do.
Is Starbucks a blue ocean strategy?
Starbucks is an excellent example of a company that has successfully implemented the Blue Ocean Strategy. Many cafes were already established when Starbucks was launched. Instead of focusing on their coffee, they have developed the Starbucks brand as different, a strategy still unexplored in this sector.
What companies use blue ocean strategy?
Blue Ocean Strategy Examples
- Blue Ocean Strategy Examples:
- iTunes. With the launch of iTunes, Apple unlocked a blue ocean of new market space in digital music that it has now dominated for more than a decade. …
- Bloomberg. …
- Canon. …
- The Ford Model T. …
- Philips. …
- Quicken. …
- Ralph Lauren.
Is the foundation of Blue Ocean Strategy?
Blue Ocean Strategy – Foundation of Blue Ocean Strategy. … Rather, blue ocean strategists followed a different strategic logic that value innovation is the foundation of blue ocean strategy. Value innovation means creating a leap in value for buyers and your company, thereby opening up new and uncontested market space.
Is Apple a blue ocean strategy?
Apple use blue ocean strategy to remove competition and create a new market for new products. Blue ocean strategy helps to the Apple company to develop their own market rather than trying to beat competitors to reach top in the market. Apple iTunes is a good example of Apple blue ocean strategy.
How do you build a blue ocean strategy?
How Do You Create a Blue Ocean?
- Define the current reality. …
- Identify a segment of customers who are only interested in or find value in a portion of the features of a product or service. …
- Alter the product or service to be inferior on the aspects that are less valued by your new target audience.
Why is blue ocean strategy important?
The goal of a Blue Ocean Strategy is for organizations to find and develop “blue oceans” (uncontested, growing markets) and avoid “red oceans” (overdeveloped, saturated markets). A company will have more success, fewer risks, and increased profits in a blue ocean market.
Is Netflix a blue ocean strategy?
Another interesting example of a company that was able to successfully apply the blue ocean strategy is Netflix. … The company became the first streaming content provider that included movies, TV shows, and documentaries. Netflix was able to create its own demand rather than compete for it with others.
What is Blue Ocean and Red Ocean?
Cutthroat competition turns the ocean bloody red. Hence, the term ‘red’ oceans. Blue oceans denote all the industries not in existence today – the unknown market space, unexplored and untainted by competition. Like the ‘blue’ ocean, it is vast, deep and powerful –in terms of opportunity and profitable growth.
Is Airbnb a blue ocean strategy?
Founded in 2008, Airbnb connects renters and travelers from around the world at any price point. … Airbnb blue ocean strategy is based on process innovation as the company does not own any properties but provides the customers and sellers a platform through which they can service one another.
How does Blue Ocean strategy work?
What is Blue Ocean Strategy? Blue ocean strategy is the simultaneous pursuit of differentiation and low cost to open up a new market space and create new demand. It is about creating and capturing uncontested market space, thereby making the competition irrelevant.
How did Starbucks make use of the Blue Ocean strategy successfully?
The first strategic action for a blue ocean strategy is to create uncontested market space. … Starbucks has been able to implement this strategy and pull in a new group of customers who were traditionally noncustomers of the industry, such as non-coffee drinkers.