Blue Ocean Strategy Paper

Blue Ocean Strategy Paper

Monique Carr

MKT/421

July 2, 2014

Instructor: Dr. Daniel E. Lewis

When understanding the blue ocean demand it is utilized to provide both profitable and rapid opportunity for growth within a business. To understand the nature of a product or service we must comprehend in the business world it involves two different discrete spaces that would be the blue and red. The blue ocean strategy contains one of the most powerful revolution processes that would be used to create and focus on profitable high- growth for many businesses and consumers. The BOS is used to create and focus on new demand by underlining groups of consumers (non- consumers) with tactical contribution that will develop value for both the companies and buyers.

A description of blue ocean strategy and its importance

To provide you a clear definition of blue ocean strategy (BOS) it is a framework that stimulates to develop and innovate new demand and new markets to sell a company products instead of fighting with competitors over the same market that is shared and in which the same demand is satisfied typically in a red ocean strategy. The blue ocean strategy provides an alignment of profit proposition, value proposition, and people proposition to create a new market space (Kim, 2010). Many companies are able to create a reconstructionist way of looking for a strategy that can recreate and set boundaries of a particular industry that they would like to pursue. When implementing the blue ocean strategy it is important to understand that this strategy does not encourage companies to behave in a negative way that would hurt them in the long run. The main points of the blue ocean strategy would be innovating and developing new demand, make the competition irrelevant, break the value cost tradeoff, render the competition, and move a company to the point of where it excels in low cost and...