Do blue oceans create powerful brands?

Do blue oceans create powerful brands?

In blue oceans, demand is created rather than fought over; there is ample opportunity for growth that is both profitable and rapid. Creating blue oceans builds brands. Indeed, so powerful is blue ocean strategy that a blue ocean strategic move can create brand equity that lasts for decades.

How do you build a blue ocean strategy?

Five Steps to Making a Blue Ocean Shift

1. Select the right scope for your blue ocean initiative and build your people’s confidence.
2. Next, get super clear about the current state of play.
3. Identify the hidden constraints that you can turn into opportunities.
4. Go from the big picture to creating practical blue ocean options.

Which companies use blue ocean strategy?

Blue Ocean Strategy Examples

• Blue Ocean Strategy Examples:
• iTunes. With the launch of iTunes, Apple unlocked a blue ocean of new market space in digital music that it has now dominated for more than a decade.
• Bloomberg.
• Canon.
• The Ford Model T.
• Philips.
• Quicken.
• Ralph Lauren.

How does a company create new markets with a blue ocean strategy?

Blue ocean strategy is the simultaneous pursuit of differentiation and low cost to open up a new market space and create new demand. It is about creating and capturing uncontested market space, thereby making the competition irrelevant.

What’s wrong with Blue Ocean Strategy?

No fish. A final risk of Blue Ocean Strategy is that it can lead companies to oceans that are blue for a very good reason. Oceans can be dead, empty, and impossible for most species to survive in. Along the same line “markets” may be uncontested for a very good reason: because there is no market.

Is Blue Ocean Strategy still viable?

Speaking of all type of set ups, Blue Ocean Strategy is still successful because it is scalable. Any type of organization either it profitable or non profit can use the tools, methodology and framework.

What are the two ways to create blue oceans?

There are two ways to create blue oceans. One is to launch completely new industries, as eBay did with online auctions. But it’s much more common for a blue ocean to be created from within a red ocean when a company expands the boundaries of an existing industry.

Is Amazon Blue Ocean Strategy?

Elements of a Blue Ocean Strategy Strategies such as their Kindle E-Reading solution, Drone Delivery, Cloud Based Computing, Amazon Prime, or One Hour Delivery are all examples of Amazon creating uncontested space (ie. Blue Oceans) in which to compete far away from anything their competitors can do.

Did Netflix use Blue Ocean Strategy?

Netflix. The first company that used the blue ocean strategy is Netflix, a popular subscription-based streaming service.

What is Blue Ocean Strategy examples?

The first example of blue ocean strategy comes from computer games giant, Nintendo, in the form of the Nintendo Wii. The Nintendo Wii launched in 2006 and at its heart is the concept of value innovation. This is a key principle of blue ocean strategy which sees low cost and differentiation being pursued simultaneously.

What are the 4 steps in the blue ocean strategy process?

4-Step Blue Ocean Leadership Process

1. Step 1: See your leadership reality.
2. Step 2: Develop alternative Leadership Profiles.
3. Step 3: Select to-be Leadership Profiles.
4. Step 4: Institutionalize new leadership practices.

What is a Blue Ocean Strategy and its advantage?

Blue Ocean Strategy cooperates with organizations to find uncontested markets and avoid matured and saturated markets. It assists to move from the impediments of competing within the existing industry and cost structure and to gradually migrate towards constructive value improvement.

When does a company create a blue ocean?

In a few cases, companies can give rise to completely new industries, as eBay did with the online auction industry. But in most cases, a blue ocean is created from within a red ocean when a company alters the bound- aries of an existing industry. As will become ev- ident later, this is what Cirque did.

Who are the authors of the blue ocean strategy?

Blue Ocean Strategy is a concept developed by INSEAD professors W. Chan Kim and Renée Mauborgne. A Blue Ocean Strategy focuses on creating and exploiting new market spaces – ‘blue oceans’, rather than going head to head in fiercely competitive markets, red oceans.

How does competition affect the blue ocean strategy?

As the market space gets more crowded, prospects for profits and growth decline. Products turn into commodities, and increasing competition turns the water bloody. There are two ways to create blue oceans.

What do you need to know about blue ocean thinking?

To successfully implement blue ocean thinking you need to have the right toolkit and process. The tools aligned to the framework and process are a powerful way to systematically identify blue ocean strategies.