This website uses cookies to ensure you have the best experience. Learn more

Blue Ocean Strategy Paper

845 words - 4 pages

Blue Ocean Strategies
MKT 421
February 2, 2015

Strategy and Positiong Paper for StressLess: A Fitbit Product
What is innovation? By definition, it is a new method, or idea that revolutionizes the current standard. Innovation is paramount to success in a competitive market. A company can choose innovation in the current market, or use a red ocean strategy. This strategy is to take a current product or process and improve upon it. Another option businesses have is to endeavor for a blue ocean strategy: the strategy of creating a new market.
A blue ocean strategy takes the market to a new level. A new product, or a new business is invented in a blue ocean strategy. Blue ocean strategies ...view middle of the document...

According to the Harvard Business Review, 86% of new business is red ocean movement. That is an overwhelming percentage. Red ocean strategies are fed by a need to compete with other companies; proving their superiority and ability to manipulate a market to their advantage. (Kim, Mauborgne, 2004)
Airbnb is a blue ocean move. Airbnb has taken travel and home rental and turned it into a brand new market. Airbnb is a new, online business that puts potential vacation rental customers in contact with homeowners who wish to rent out their homes on a temporary basis. Previously, travelers would stay in hotels or hostels during travel, perhaps occasionally renting out a home for a long-term stay. People who wished to rent their homes out were obligated to enter into contracts with property management companies that charged high commissions to rent out their home. Airbnb changed that. ("Vacation Rentals, Homes, Apartments & Rooms for Rent - Airbnb", 2015)
Airbnb is an online website that allows both homeowners and travelers to share their plans and enter into business agreements. Airbnb uses their website to facilitate financial transactions and provide a safe space for both parties to conduct business. Airbnb carved out a market, and voraciously committed to maintaining the upper hand in said market. While other companies, such as Vacationrentals.com, have since attempted to enter the now red ocean of Airbnb’s original blue, the success and branding have gone to Airbnb. Airbnb has revolutionized the travel industry; it...

Other Papers Like Blue Ocean Strategy Paper

Blue Ocean Strategy Essay

885 words - 4 pages Blue Ocean Strategy Brigetta Bailey MKT/421 January 26, 2015 Shannon Peterson Blue Ocean Strategy An old wives tale states, “there’s nothing new under sun” and some would believe that to be true. However authors W. Chan Kim and Renee Mauborgne proved that theory wrong, with the development of the blue ocean strategy, which was adopted by corporations in different industries. Nintendo’s one company that utilized the blue ocean strategy

Blue Ocean Strategy Essay

766 words - 4 pages Blue Ocean Strategy Melissa Keck June 5, 2014 MKT421 Dr. Linda Murawski Blue Ocean Strategy Competing in overcrowded industries such as technology is no way to sustain high performance. The real opportunity is to create blue oceans of uncontested market space. The Apple Ipad and Kindle Fire would be considered Blue Ocean products as oppose to Red Ocean products. Apple achieved a worthy invention by designing the Ipad, which led to the

Blue Ocean Strategy

791 words - 4 pages Tiffany Betz Blue Ocean Strategy MKT 421 Professor Creig Foster September 22, 2014 Blue Ocean Strategy Blue ocean strategy is about reinventing rather than competing with others in the same industry. “Blue 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” (Kim, & Mauborgne, 2004). The blue ocean strategy opens

Blue Ocean Strategy - 724 words

724 words - 3 pages different parts: * Part One: Blue Ocean Strategy * Part Two: Formulating Blue Ocean Strategy * Part Three: Executing Blue Ocean Strategy I'm going to introduce all the three parts straight from part one to part three. Part One (chapters 1-2) The first part introduces readers to books basic and the most important terms. The cornerstone of the blue ocean strategy is Value Innovation. It practically says that rather than concentrating

Blue Ocean Strategy - 694 words

694 words - 3 pages overthecompetition, strategy advantages usually assessing by whatcompetitors and striving do itbetter. do to a share Here,grabbing bigger ofthemarket also seen as a zero-sum is in whichone company's game gainis achieved another at loss.Hence,competition, supply the sideofthe company's remains defining the variable strategy thefocuson dividing of with equation, up existing industry space. ^^m Adapted from BLUE OCEAN STRATEGY: How to Create Uncontested Market

Literature Review Blue Ocean Strategy

613 words - 3 pages LITERATURE REVIEW  BLUE OCEAN STRATEGY BY W. CHAN KIM AND RENÉE MAUBORGNE Mirko Hagendorf AGENDA I. Introduction of authors II. The Blue Ocean Strategy Definitions of Red and Blue Oceans Characteristics Summary Success and examples  III. Critical reflection of the strategy  IV. Discussion and questions  2 I. INTRODUCTION OF AUTHORS W. Chan Kim & Renée Mauborgne Work together at INSEAD (Institut Européen d

Mkt/421 Blue Ocean Strategy

857 words - 4 pages Blue Ocean Strategy Paper MKT/421 April 6, 2015 Businesses constantly look for ways to stand out in their market industry. There are two main strategy philosophies that they use to accomplish this goal. Those philosophies are the red ocean strategy and the blue ocean strategy. These ideals may sound strange, but the names make sense once a person understands the principles behind them. Companies looking to make

Blue Ocean Strategy - 850 words

850 words - 4 pages Bagaimana ‘Strategy Laut Biru’ (BOS) mencipta strategi pemasaran yang kukuh untuk sesebuah perniagaan? Strategi Laut Biru (BOS) merupakan strategi di mana ia mencipta satu pasaran yang belum ada pesaing dan seterusnya akan mewujudkan persaingan yang tidak relevan. Strategi ini berbeza dari Strategi Laut Merah di mana ia bersaing di dalam pasaran yang sudah wujud dipasaran. Ia turut dikenali sebagai ‘ruang pasaran’ yang bermaksud pasaran

Cirque Du Soleil - Managerial History and Use of the Blue Ocean Strategy

925 words - 4 pages traditional circuses by adopting the blue ocean strategy, where demand is created, rather than fought over by competitors. The unknown market space, unattained by competition, is what Cirque strives to create and capture. By offering the best of circus and theater, Cirque created its own place in the market. Since its inception, Cirque has not used typical competitor methods, such as competing within the realm of circus industry, to achieve its

Marketingpaper

1182 words - 5 pages Blue Ocean Strategy Paper Julian Mackie MKT/421 November 24, 2014 Stephen Grothe Blue Ocean Strategy Paper When you think about a Blue Ocean Strategy, there are three words that come to mind. The first one is innovative. Blue ocean strategy generally refers to the creation by a company of a new, uncontested market space that makes competitors irrelevant and that creates new consumer value while decreasing costs. It was introduced by W

Blue Ocean

867 words - 4 pages The Blue Ocean strategy in marketing is a unique approach to building a customer base. Instead of trying to compete in an overcrowded marketplace with existing companies, a Blue Ocean strategy seeks to build an entirely new market area. With the rapid growth of technology and globalization, the importance of a Blue Ocean strategy has grown in recent years. The “Blue Ocean strategy” is a term that originated from the 2005 book, The Blue Ocean

Related Essays

Blue Ocean Strategy Essay 613 Words

613 words - 3 pages Team 8: Monica Rojas Jami Seibert Karlie Winnett Management 600 October 11, 2010 Blue Ocean Strategy Executive Overview The two key concepts introduced in the article “Blue Ocean Strategy” are the Red Ocean and Blue Ocean Strategies. Red Oceans are all industries know to exist today. Companies applying Red Ocean strategy within a given industry are trying to outperform their competition to increase their market share of an

Blue Ocean Strategy Essay 996 Words

996 words - 4 pages Blue Ocean Strategy (your name) MKT/421 (due date) (instructor name) Blue Ocean Strategy A blue ocean is uncontested market space that does not exist now, but will in the future. Blue ocean strategy refers to innovation and development of products and services that have not been offered previously. It is a method of systematically pursuing differentiation and low cost and effectively making the competition irrelevant. “Blue ocean

Blue Ocean Strategy Essay 830 Words

830 words - 4 pages Blue Ocean Strategy Shakira Mays MKT21 Anissa Upshaw July 28, 2014 Blue Ocean Strategy When starting a business, there are several factors that an organization must consider. These factors include the type of product or service they would like to offer, the target market, as well as the price. New organization or organization is trying to recreate themselves also need to think about their competition. Competitors are the driving force

Blue Ocean Strategy Essay 961 Words

961 words - 4 pages Blue Ocean Strategy Ashleigh Philbrick MKT 421 February 18th, 2015 Professor Edward Mendicino 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 no other existing firms. With the rapid growth of technology and globalization, the