Essay blue ocean strategy

Competing in existing essay blue ocean strategy space versus Creating new market space The red ocean represents the existing market space where there is always a constant intensity of rivalry to fight for market share. To successfully operate in a red essay blue ocean strategy, it is important for companies to conduct competitor analysis n2construcoes.com.br and what they are planning to do.

Red ocean strategies represent approaches to protecting and stealing market share from competitors. According to D’Aveni, market share can be stolen by companies satisfying their competitor’s customers better.

To compete in the existing market space, companies need to mould their services or products in hr topics for phd thesis with the customer’s liking through refining existing products or creating new to the world products.

However, the bloody cutthroat competition of the red essay blue ocean strategy most often causes companies to develop similar or replications of products or services of the competitor that has done well. In the red ocean essay blue ocean strategy competition is based on price and quality, essay blue ocean strategy a first mover is an important advantage because by being flexible a company can Literature review cancer treatment easily to external changes such as customer demands and trends.

By being a first mover, the company gets benefits such as low costs and economies ehr thesis statement a constant battle to fight for market share by cutting profit margins lower and lower.

For the companies that succeed in gaining a competitive advantage by being a first mover, it is important for them to exploit the opportunity of that advantage as much as they can because very soon the competition will catch on to it. The tradition theory to competing in existing market space is focused ap biology 2016 essay answers building your company through analysing competitors.

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Blue Ocean Strategy Essay Sample

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EBay would be a good example of blue ocean strategy. EBay was the essay blue ocean strategy of its kind to initiate a service of online auctions reaching an enormous target market that had never been targeted before in this manner by offering an online auctioning service to customers from the convenience of their homes.

Alternative Red Ocean Move Red oceans are all the industries in existence today—the known market space.

• There are UK writers just like me on hand, waiting to help you.
• Red ocean strategy is designed to gain the greatest possible number of customers and to sell as many of their products.
• Red ocean strategy is designed to gain the greatest possible number of customers and to sell as many of their products.
• However, the bloody cutthroat competition of the red ocean most often causes companies to develop similar or replications of products or services of the competitor that has done well.
• In blue oceans, competition is not relevant because the rules or barriers to the market space is not set yet and is often waiting to be set.
• Perfect competition is a myriad of competitors constantly fighting with each other over their slice of the market.
• The Authors uses the blue ocean analogy to describe the uncontested market space with no competitors and the opportunity to explore.
• Businesses that tend to only focus on the red ocean approach must accept the key constraining factors — limited terrain and the need to beat an enemy in order to succeed — and to deny the distinctive strength of the business world:
• Nike was able to enter a market using the red ocean strategy approach and add creativity and innovation to an athletic industry that was already established and climb to the top without the blue ocean approach.
• Blue ocean, denotes all the industries not in existence today—the unknown market space, where there is no current competition.
• Conclusion A company must master its traditional markets using conventional strategic planning tools.
• Even though it was created recently, it immediately gained recognition among experts, and presidents and directors of many companies.

In the red oceans, industry boundaries are defined and accepted, and the competitive rules of the game are known. Here companies try to outperform their rivals to grab a greater share of product or service demand.

Red ocean strategy is designed to gain the greatest possible number of customers and to sell as many Business plan for equity funding Companies that select this strategy do not create a new service without competition, they advertise their essays blue ocean strategy in every way possible.

The fight between competing companies is constant. Some of these companies are trying to create exclusive product lines to increase the range of n2construcoes.com.br in order to increase profit without the worries of competition.

An example of a company that uses the red ocean strategy would be Nike.

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Nike jumped into thegooduniverse.000webhostapp.com market ready to compete amongst already existing competitors not on a mission to create a service that was without competition. Once Nike was in the market and essay blue ocean strategy its competition, it could now venture into other ocean strategies to continue to be innovative, creative, and provide a service to their current market as well as look for services to uncharted markets.

There was competition that existed before Nike became known. Nike was able to enter a market using the red ocean strategy approach and add creativity and innovation to an athletic industry that was already established and climb to the top without the blue ocean approach. As the market space gets crowded, prospects for profits and growth are reduced.

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