Blue Ocean Strategy

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Blue Ocean Strategy Shovanda Davis MKT/421 July 13, 2015 Nnamdi Osakwe Blue Ocean Strategy Introduction This week we will discuss Blue Ocean Strategy in detail. We will provide a description of blue ocean strategy and its importance. We will also discuss a product or service that might be considered a blue ocean move and why. We will also talk about an alternative red ocean move for the same product or service along with the pros and cons of that strategy. 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 makes the competition irrelevant. Product or service that might be considered a blue ocean move and why There are several products and services that might be considered Blue Ocean. Cirque du Soleil is an example of Blue Ocean Strategy because of how they are blending opera and ballet with the circus presentation while removing star performers and animals. This is considered a Blue Ocean because it was previously an unknown market space, and now it is well known throughout the world. There is abundant opportunity for growth that is both profitable and rapid with Cirque du Soleil. Southwest Airlines is

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