Submitted by: Submitted by deputy
Views: 506
Words: 386
Pages: 2
Category: Business and Industry
Date Submitted: 11/09/2010 10:43 AM
Blue Ocean
The article Blue Ocean Strategy basically explains a “Blue Ocean” as “all the industries not in existence today- the unknown market space, untainted by competition.” After reading the article my understanding of a “Blue Ocean” is a company differing itself from the closest competition by providing a product, performance or service that is not presently available. The fact that the service or product is not presently available puts that company in an ocean all by itself without any competitors. Blue Oceans in one sense are devoid of competitors because they were the “first to market” with the product or idea. Being first to market leaves those that may want to imitate at a disadvantage because of brand recognition to the consumer and also because trying to recreate the blue ocean’s business model may prove expensive and logistically challenging.
The entire premise that a blue ocean is founded upon is creating something that is not presently available in any other form and creating a sense of need for the product among consumers. The article Do You Know Who Your Competitors Are? illustrates that a company or product that you never thought to be in competition with each other really are in competition. After reading this article the idea that a blue ocean lacks competition is questionable. Blue Ocean Strategy gave the example of the Cirque du Soleil as a blue ocean without any competitors. Since reading Do You Know Who Your Competitors Are? one of Cirque’s competitors could be the local power company because consumers would rather pay there power bill and have electricity in their home than attend a Cirque show. Since this article allows you to see competition beyond the industry walls that the product is currently a part of one may question if blue oceans devoid of competition really exist?
The article Megatrends of the Future Will Feed Off Industry Hype neither supports nor distorts the notion of blue oceans. This article seems to support...