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 completely new industries, as eBay did with the online auction industry. But in most cases, a blue ocean is created from within a red ocean when a company alters the boundaries of an existing industry. The importance of the Blue Ocean Strategy is that it allows a business to sell its products with little or no competition from other firms. This strategy is useful for a new business that does not have a lot of money available for advertising and does not want to sell its products in a market where other companies have already established strong brands. The Blue Ocean Strategy compares the blue ocean to the red ocean, which represents all the industries in existence today - the known market space. In an established market, businesses are constantly fighting each other to gain customers and increase sales. This is like an ocean full of sharks that tear each other apart and turn the water red blood. The business can move to another ocean, which is peaceful and blue, without the vicious sharks. According to Kim and Mauborgne, the dramatic imbalance in favor of Red Ocean is because its roots in military strategy heavily influence the corporate strategy. The very language of strategy is deeply imbued with military references - chief executive "officers" in "headquarters," "troops" on the "front lines." Described this way, strategy is all about red ocean competition. It is about confronting an opponent and driving him off a battlefield of limited territory. Blue Ocean Strategy, by contrast, is about doing business where there is no competitor. It is about creating new land, not dividing up existing land. Focusing on the red ocean therefore means accepting the key constraining factors of war - limited terrain and the need to beat an enemy to succeed. And it means denying the distinctive strength of the business world - the capacity to create new market space that is uncontested.An example of a blue ocean move was when Apple released the iPad in April 2010. Apple's iPad is a tablet, personal computer that went relatively unchallenged for the remainder of 2010 and the beginning of 2011. But as of March 2011, several competitors have released, or are preparing to release tablet PCs that will challenge the iPad for a share of the market. According to CNET, an online electronics review site, the following are among the iPad's top competitors. Samsung came out with the Galaxy Tab, which is a 10.1-inch screen that is patterned after the Galaxy S Smartphone. It is built on an Android 3.0 Honeycomb platform and it features...

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