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according to Kim and Mauborgne, a company would not have the opportunity to strive to its best, as it would be facing competition as the market matures, driving the company to seek for another Blue Ocean and leaving the current one. Therefore firms will have to craft out newer approaches to carve out new niches and come with new blue oceans market structures like in the case of auto manufacturer Ford. If the firm would leave early because of the competition, it may miss the peak, To shift from Red Ocean to blue ocean, emphasis must be made to the six principles/steps that leads to the formulation and execution of the blue ocean strategy. © 2020 Deadline Essay. 825 Words 4 Pages. In order to be successful companies have to think beyond competition with their competitors. We can create an original paper just for you! To understand the term of Blue Ocean, imagine a market universe composed of two sorts of oceans: Red Oceans and Blue Oceans. The process for new entrants into industry will be discouraged by factors like the need to come in with new products and services and other economic limiting factors. It is a method of systematically pursuing differentiation and low cost and effectively making the competition irrelevant. Like Many Indians Gera, 42 can’t afford a Car of $5000 Maruti 800 which is the cheapest car in […], This reports sets out the detail explanation over blue ocean strategy, highlighting the key main areas to be the market nicher. All rights reserved. Solution 1 Blue Oceans have been in existence over several centuries in the past. support@deadlineessay.com Get Expert Assignment Help and Score Superb Grades, Skilled, Experienced Native English Writers, Download paper from your email or personal account. All papers are properly referenced. It is also demonstrates how the companies traditionally work in red ocean conditions where companies are fighting fiercely against each others to gain a share of the market. Blue oceans present the firms which adopt it from imitation in the initial stages for about 15 years, during this period the firms can enjoy faster growth since the competitors will be limited by both economic and cognitive barriers thus making it difficult for them to overhaul their systems to join in the competition. Whichever your reason may is, it is valid! October 24, 2014 The challenge a company faces in order to succeed is spotting the opportunities. Are you scared that your paper will not make the grade? Blue Ocean Strategy Paper Adel Erolsky University of Phoenix MKT/421 Ron Rosalik August 25, 2014 Blue Ocean Strategy Paper In today’s business world, competition is a big concern for nearly every corporation. Topics: Blue Ocean Strategy, Car, Data, Qualitative Research, Quantitative Research, Research, Stock Market. Blue Ocean Strategy (Analysis Essay Sample) / Samples / Analysis / Blue Ocean Strategy The maturity of an industry has brought a company swimming in a red ocean, which means price war strategy, according to a bestseller book titled Blue Ocean Strategy that is written by W. Chan Kim and Renee Mauborgne. Save my name, email, and website in this browser for the next time I comment. Both Blue and Red Oceans are distinctly different strategies, both logics are important to understand, and they both coexist. XXXXXXXX Your email address will not be published. Each company has a particular business culture, which is suitable only for the company in a specific industry. Blue Ocean Strategy Currently, red oceans strategy is more dominant theoretically and practically. Required fields are marked *. Firms should therefore be open to try and adopt blue oceans strategy in the wake of the continued growth of competition, diminishing profits, and stagnated growth. Blue ocean strategy refers to innovation and development of products and services that have not been offered previously. Didn't find the paper that you were looking for? Blue Ocean Strategy Paper Have doubts how to write your paper correctly? Essay about Blue Ocean Strategy. (your name) Introducing Halal Meat Based on Blue Ocean Strategy Business Essay . Lastly, an alternative red ocean move for the same product or service along with the pros and cons of that strategy will be discussed. Our essay writers are graduates with diplomas, bachelor, masters, Ph.D., and doctorate degrees in various subjects. MKT/421 In this case study, the author has discussed different methods and strategies which global firms are adapting to achieve success and to grow exponentially in their relevant industries. The blue ocean is taken, Blue Ocean Strategy Paper DeadlineEssay offers writing services for our clients research purposes and helping them to gain better understanding of the subject. MKT 42110/13/2014 A blue ocean is uncontested market space that does not exist now, but will in the future. Case Study This article has focused on two strategies, Red Ocean and Blue Ocean particularly. The markets created by firms through the application by the firm’s results in the realization of handsome profits and faster brand growth which other competitors may not easily match up to. Companies in red oceans are competitive-base; they are fighting each other and aim to get a bigger market share, Critically Assess the Claim That People Are Free to Make Moral Decisions, Essay on Epidemiology and Communicable Diseases: HIV. In red oceans, industry boundaries are clearly delineated and accepted, and the competitive rules of the game are known. So what is Blue Ocean? W.Chan Kim and Renee Mauborgne, article “Blue Ocean Strategy” and Blue Ocean Strategy: From Theory to Practice challenges firms to distance themselves from the fierce competition in the marketplace by utilizing Blue Ocean Strategy versus the dominantly used Red Ocean Strategy. What is Blue Ocean Strategy? In the blue ocean, firms create new industries which were not in existence by alterations carved out from the present industries. In blue oceans, competition is a process that is created and not competed for. Introducing Halal Meat Based on Blue Ocean Strategy Business Essay. Thriving for businesses in the overcrowded and competitive markets requires the adoption of a strategy that does business to stand out from the rest in the crowded markets. Moreover, a firm should not leave a market based on the competitive forces, but rather on the expected profit rate of staying in the market. The application of the Blue Ocean is informed by making use of the existing in carving out a new market segment for a firm’s products or services, and creation of new industries from within unlike in the case red ocean. Secondly, overcoming the consistence pattern makes it difficult to strike new entrants. The authors present the idea of a business being able to operate in a league of its own, without intense competition. In the application of the Blue Ocean Strategy, businesses are required to make use of competition in the market as a point of reference in venturing in new activities and offering value customers at reduced costs. MBA Student Are your grades inconsistent? There has been a lot of discussion and consideration when it comes to the red or blue ocean approach to marketing strategies for businesses both already established and newly founded. Chapter 1 Introduction On a recent weekend Mr Jatin Gera was shopping in the crowded market of Rajouri Garden, Delhi India with his wife, two kids, 6 and 12 who were hanging to his $1200 Motorcycle. You can get professional academic help from our service at affordable rates. + 1 (817) 953 0426, Order your paper today and save 30% with the discount code DEADLINE, Don't use plagiarized sources. All Rights Reserved. The following essay will analyze the blue ocean strategy and its importance, while providing a product or service that might be considered a blue ocean strategy. Companies try to, less competition (Armstrong & Sappington, 2006). These strategies are used to define the environment a firm is operating in and to, Blue Ocean Strategy Blue Oceans have existed alongside the red oceans. By understanding by the underlying logic of both strategies companies will be able to make decisions on what strategy they will, THE BLUE OCEAN STRATEGY (instructor name) One of the strategies available for business to adopt and employ in their operations for sustainability is the Blue Ocean Strategy.

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