Blue Ocean Strategy Paper Essay

The downcast ocean dodging in marketing is a characteristic method when it comes to designing a customer base very various when it comes to competing within a certain type of industry. Instead of trying to vie in a displace market place with existing companies, a blue ocean strategy will drive to urinate a complete marking- sassy market segment that has no completion or other firms to compete against. In this day in age of engine room and the emergence of it and globalization the importance of a blue ocean strategy has grown in recent historic period and in my essay I will explain the approach and how it is employed in the modern handicraft environment,Blue ocean marketing strategy in marketingIn today cluttered industries companies have to consider the four ps of marketing when developing new offerings which include product, placement, price and promotion. In govern to complete within their industries they must give consumers a certain observe proposition for example a firm post offer a products at a very cost effective rate or at a higher quality than what is presently offered by other firms. In a blue ocean marketing strategy it would make up an entirely new market causing a firm not having to worry about dealing with competition altogether.The blue ocean strategy, aims to create a new market place that will cause b bely one player in that industry eliminating any competition marketers build an entirely new product and serve that is currently unknown to customers. In a case like this, it is vital to view effective ship canal to introduce and inform the public about the new product and service to develop awareness, interested and confidence. When product and service awareness has set in the new product will be positioned in point that provides no alternatives and allows much more effective branding tactics to be utilized. ultramodern examples of blue oceans movesThere have been several notable blue oceans moves in modern condescension re cently particularly in the technology dry land the Nintendo Wii product shook up the caper world when it was released 10yrs ago instead than compete with the ps3and Xbox Nintendo decided to create a whole new gaming concept that used motion detectors instead of button controls the gaming establishment was received very well by gamers and built a new market with no direct competition I would require years of tech development for the companys main rivals to offer uniform products another notable blue market strategy occurred with the launch of toms station instead of vindicatory selling shoes toms created a unique business model that is essentially a hybrid of a charity and a shoe manufacturer it became the only company were a consumer could buy a pair of shoes and have a comparable pair donated to a third world country this strategy gives consumers an additional level of time value that no other shoe manufacturer such as Nike horn in Choo could match.Alternative red oceans m oveRed ocean strategy is the minute opposite move which positions a product in an already crowded market place while it does sound attractive there are many benefits to competing in a mature market there is already a strong customer education about the types of p/s being sold there dore companies do not collect to pass a large budget on educating the consumer the main con of a red ocean move is that it can be hard to find a lucrative niche in well established markets just imagine trying to create a new soda brand that directly competes with coca cola it would be very unlikely that this new soda brand could upset the worlds largest soft intoxication supplier.ConclusionMany technology firms are now trying to instrument blue ocean strategies to gain a competitive advantage in the market while there are many risks associated with their move it can be very lucrative if it successful ultimately marketers will need to weigh the potential benefits and risks that can emerge from taking the plunge into the blue ocean of business.