Blue Ocean Strategy A Marketing Book

1173 words - 5 pages

BLUE OCEAN STRATEGY

Name
Institution

Blue Ocean Strategy
Introduction
Blue ocean strategy is a marketing book by W. Chan Kim and Renee Mauborgne in the year 2005. The book mostly borrows from a range of over 140 strategic marketing moves within a period of over a century. The book succeeds in showing how businesses, can outdo their competitors. Not because of battling them, rather, because of what the authors refer to as blue oceans, which consists of uncontested market space.
Body
The book gives a detailed outline of how companies should engage each other in the market wars while maintaining and bringing on board new customers. They successfully do so by presenting tools for the implementation of a successful marketing strategy, and the determination of blue oceans (Kim & Mauborgne 2005). They also review a pool of strategies used while analyzing their strengths and weaknesses. These moves create what scholars refer to as, value innovation. Under a strategy that makes competitors almost inactive, by a process of creating new demand.
In the present times, most industries are experiencing an influx in the number of companies that seek to provide identical products. They engage each other in tight competition, for profits and business growth, thus, translating into a marketing war determined by differentiation. Blue ocean strategy focuses mainly on six principles that it views as key in formulating and executing successful blue ocean strategies. These principles give a clear guideline on how to, achieve a strategic sequence, deal with organizational challenges, reconstruct market boundaries, attain markets beyond existing demand, focus on the larger market and how to successfully incorporate execution into strategy.
The analytical framework presented in the book. Has undergone research at the Harvard business review, over a period spanning over fifteen years. The two authors emphasize the fact that, members in these industries should not cry foul over monopolies of markets. Rather, there is space for new entrants daily (Kim & Mauborgne 2005). The only thing required is to walk through the challenge of conceptualizing, blue oceans, in a smart and responsible way. As there are neither permanent, excellent companies nor industries. To achieve profits through blue oceans, it is essential that the company conduct a self-analysis of steps that had desired returns, and the way of simulating them systematically, over a repeated period to achieve Blue Ocean opportunities.
Most marketing executives would argue that blue ocean opportunities are depleted in the modern world. It is fascinating to note that the universe is dynamic, and markets are expanding over time, thus, creating new opportunities each, and every day. Not only does the framework in the book try to give a solution to the analytical concepts that...

Find Another Essay On Blue Ocean Strategy- A Marketing Book

Commentary on The Blue Ocean Strategy

935 words - 4 pages Introduction This paper is an attempt to explore the Blue Ocean Strategy which surfaced in the year 2004 and within a few months, it revolutionised thinking patterns and decision making processes of many firms around the world. The terms “red oceans” and “blue oceans” became the part of the business dictionary and many business related journals started using these terms. It links to the themes of “critical response” and “critical thinking

Marketing Plan for Blue Ocean Travels

3561 words - 14 pages . Although the company has been in the industry for about ten years, it has only shown a slight improvement in its performance up to now. Today, it has reached to a level of Rs.330,076 annual loss and with only a very low level of market share of about 2%. Marketing Mix The current marketing mix of the company would give an in-depth details on the product made available to the customer. As Blue Ocean Travels operates in the service industry, and

Blue Ocean Strategy by W. Chan Kim and Renee Mauborgne

1283 words - 5 pages INSEAD Distinguished Fellow as well as a professor of strategy and management. The authors use the term “blue ocean” as a metaphor for undiscovered markets. This metaphor is juxtaposed to “red oceans” which signify saturated markets. Although the book contains a good foundation and is well-written, the overuse of anecdotes that trick readers into thinking the strategies are fool-proof, the flaws and self-evident content, and the redundancy of

The Blue Ocean Strategy Helps Students Find Their Career Path

608 words - 3 pages places. The main focus is on sending a message to individuals or small groups of people. Think globally and act locally. Third, benchmarks don’t exist. Don’t refer to your competitors but instead take an empty piece of sheet and throw as many ides on the paper as your brain is able to produce. Isolation helps to dig previous knowledge and innovate something without disctactions from outside. Similar approach goes to Blue Ocean Strategy and itc value

Steps for a Company to Open a Blue Ocean Market

1450 words - 6 pages company to open a blue ocean market is to define the basic unit of analysis. In numerous books and research literature relating to business, the company is regarded as the basic unit of analysis for the red ocean-based business strategy. However, no company everlastingly achieves high performance, and the same company repeat rise and fall. Consequently, the company is not an appropriate unit of analysis to investigate the origin of blue oceans

"The Hungry Ocean": A look at the book and Oceanography

912 words - 4 pages Linda Greenlaw's "The Hungry Ocean" revealed to me a lifestyle in which I had only minor previous knowledge from The Discovery Channel, and other semi-educational television shows, of a profession that is both dangerous and exciting. Being a enthusiast of the ocean and the lifestyles that are attached to it, I was intrigued by this book.The basic idea and plot of this book was one of Linda's monthly sword fishing trips aboard the Hannah Boden

Sponsorship: A New Marketing Strategy

1679 words - 7 pages companies I am going to discuss are two leading companies in the market the first is an airlines company Emirates, and the other is Red bull the leading energy drink company. Both companies are into sponsorships, and support a big number of team’s individuals in many sport fields, and they are gaining a lot of marketing successes through this strategy. In this essay I will be focusing on sponsorship, and how it is identified as strategic

A basic marketing strategy and marketing mix

676 words - 3 pages Annual Computer Security Conference and Exhibition in November.This specific marketing strategy and mix is the key to future generations and the advancement of the economy. Netgear among many other companies are here to offer the best services to incorporate the changing needs of society. Technology is the key to the future and without researching and gaining knowledge of specific ideas and products then people will become misunderstood and

International Marketing - Virgin Blue (A piece of Empire)

3417 words - 14 pages Executive SummaryCurrent Situation* Virgin Blue currently operates as one of two major domestic Australian airlines, the other being Qantas.* The company currently holds an approximate market share of 33%, which it has developed in the five years in which it has operated.* Virgin Blue's strategy is simple; it offers an easy-to-understand, low priced carrier, using a low-cost business model ensuring high profit margins.Key Issues* The Virgin

Marketing Strategy for a New Company

573 words - 2 pages Marketing Strategy for a New Company Introduction I am making a marketing strategy for a non-existing Service. The service is going to be unique and very broad in the region of car services such as garages, repair and modifying services, selling cars and parts, and even entertainment including car shows and racing once or if the company expands. The service will also include a bar or social room. The service that will use the

Marketing & Strategy of A start-up Business

2884 words - 12 pages Sportspark for a healthy treat. Reference 1. Anitsal. I, Girard. T. 2012: An application of services marketing mix framework: How do retailers communicate information on their sales receipts? Journal of Business Study, 13,77-90 2. Aslan. I. 2012: Creating strategies from TOWS matrix for strategy sustainable development of KIPAS group. Journal of Business Economics& Management, 13, 95-110 3. Anderson, L. M. & Taylor, R. 1995: McCarthy's 4Ps

Similar Essays

Blue Ocean Strategy Paper

954 words - 4 pages PAGE PAGE 5 BLUE OCEAN STRATEGY PAPER Blue Ocean Strategy PaperDenise CookMKT/421 MarketingJuly 28, 2014Nick OkoroBlue oceans denote all the industries not in existence today - the unknown market space, untainted by competition. In blue oceans, demand is created rather than fought over. There is ample opportunity for growth that is both profitable and rapid. There are two ways to create blue oceans. In a few cases, companies can give rise to

Blue Ocean Strategy Paper

1072 words - 5 pages PAGE PAGE 5 BLUE OCEAN STRATEGY PAPER Blue Ocean Strategy PaperDenise CookMKT/421 MarketingJuly 28, 2014Nick OkoroBlue oceans denote all the industries not in existence today - the unknown market space, untainted by competition. In blue oceans, demand is created rather than fought over. There is ample opportunity for growth that is both profitable and rapid. There are two ways to create blue oceans. In a few cases, companies can give rise to

Blue Ocean Strategy Essay

5611 words - 22 pages . Renee Mauborgne (renee.mauborgne@ insead.edu) is the Insead Distinguished Eellow and a pro- fessor of strategy and management at Insead. This article is adapted from their forthcoming book Blue Ocean Strat- egy: How to Create Uncontested Market Space and Make the Competition Irrelevant (Harvard Business School Press, 2005). A Snapshot of Blue Ocean Creation This table identifies the strategic elements that were common to blue ocean creations in

Blue Ocean Strategy Essay

1181 words - 5 pages Blue ocean strategy is a strategy that aims to make the competition irrelevant by finding ways to generate uncontested market space (Media Marketing, 2012). By implementing this strategy, a company is being forced to align their process related to production, costs and costs activities (Media Marketing, 2012). By utilizing the blue ocean strategy, Ambang Mata will achieve higher returns and also may continue to survive in the market. One of the