| Longest lasting online grocery chain. | They are only located in the New York area. | Can provide better advertising of the company to the potential customers. | When stores put the exact same items or products on sale. | ANALYSIS VIA PORTER’S FIVE FORCES MODEL The threat of new entrants in the online grocery business could lead to the company having to lower their prices and also, may have to lower their delivery fee just to compete with the newer companies that are trying to start out in the online business.
Blue Ocean Strategy Paper Julie Rose Howdyshell MKT 421 Week 4 Paul Sage Blue Ocean Strategy The blue ocean strategy in marketing is a unique approach to building a customer base. Rather than try to compete in a crowded marketplace with existing companies, a blue ocean strategy looks to build an entirely new market segment that has not other existing firms. With the rapid growth of technology and globalization, the importance of a blue ocean strategy has grown in recent years. The following essay will analyze the blue ocean strategy and offer suggestions on how it can employ in the modern business environment. What is a Blue Ocean Strategy in Marketing?
For this task I have been asked choose a business to analysis how the business has been designed covering the points I have been discussed in P1, P2, P3. The business I have chosen is Amazon. Amazon objective are to become a better place for customers to buy and sell products to the highest standards while they still making money, they also discover new products the releases that customers would be interested to purchase, but they aim to keep their customer pleasure by offering discount and giving vouchers by storing their products in large warehouses. Amazon is a biggest worldwide business which provides products to their customers; by providing latest products to their customers they could make great money. Selling latest item on their site would get more customer, by getting more customers this will help Amazon business to gain better shopping place for customers.
Lessens need to purchase “hard copy” of these. * Other competitors; Circuit City, CompUSA, Amazon.com, even Wal-Mart, Target, etc. * Possibility of losing customers to wholesale business. I think that for the most part Best Buy has lived up to their mission statement, because they are at the intersection of technology and life. I believe this to be true because they offer some of the newest technology in their store and it is place where people can actually interact with salespeople in real life.
The remarkable strategy change that TESCO took was the implementation of computerized checkout systems and introduction of The Tesco Clubcard. This strategy has significantly brought more customers and by 1996, Tesco has become the number one retailer in UK. In my opinion, the introduction of Tesco Clubcard was a clever move. Customers are benefited with points they have collected to be exchanged with products and services, and Tesco has precise data on buying patterns of its consumers. With its massive volume of data, Tesco needs to handle better the information by investing in NCR Teradata data warehouse, providing Tesco with 360-degree view of its customers.
A2) One of the main reasons the Blue Nile Website was a success to begin with was because in the spring of 1999 venture capitalists were very keen and interested in anything that was sold online. This was the company acquired its required capital to begin. As Vadon used the capital to build a full-service e-commerce website and the website offered more insight into selecting fine jewelry. The website focused on helping its customers make the right choice buy offering online tutorials. This proved to be useful because Vadon’s aim was to educate the customer, make them feel comfortable and sell their products at a cheap price.
Description of blue ocean strategy and its importance Blue Ocean Strategy is a term that describes how companies customarily work in "red ocean" conditions, where businesses viciously fight against each other for a share of the marketplace. Instead, according to the blue ocean strategy, organizations should find a way to work in a marketplace that is free of competitors (Arline 2015). Blue Ocean Strategy is where leading companies will prosper not by fighting competitors, but by creating "blue oceans" of recognized market space ready for growth (Arline 2015). Blue Ocean Strategy is important because it is easier for many companies to produce more of their product because of technology advances. It is also important to companies to enter the blue ocean to find new opportunities.
Blue Ocean Strategy is a strategy to create new market space. According to Kim and Mauborgne (2004) the business universe consists of two different kinds of spaces: Red and Blue Oceans. Red ocean is the market space where industry boundaries are defined and known. Here companies try to outperform their rivals to grab a greater share of the market. As the market space gets crowded, prospects for profits and growth are reduced.
P5 Explain how internet marketing has made a selected business more efficient, effective and successful. The opportunities for business efficiency based on the increasing availability of the web technology which gives Perfect Paints all kinds of opportunities to speed up the interactions with both suppliers and customers. Therefore this can lead to a number of efficiencies. Firstly, the supply chain efficiencies is when a business will always be both a buyer and a seller, buying products from other businesses, buying product from others and selling to others or private consumers. A company like Perfect Paints has to buy the materials it used before it can sell finished products.
Growth strategies are made to exploit customer connection. Starbucks sells a lot of items and has grown beyond coffee into related businesses and they do so by developing these products with other companies. Company also launched the “Prepaid cards” as well and it was very successful because the company has made it easy to purchase, reload and use for the customers. The company is finding innovative ways to get the prepaid cards into potential customers. Company’s another successful brand extension was music.