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[Audio] BLUE OCEAN STRATEGY. . BLUE OCEAN STRATEGY.

[Audio] INTRODUCTION • The concept of this strategy came from a book named Blue Ocean Strategy. • This book was written by W.Chan Kim and Renee Moborgne. Definition: Blue Ocean Strategy is referred to a market for a product where there is no competition or very less competition. This strategy revolves around searching for a business in which no firms operate or very few firms operate and where there is no pricing pressure..

[Audio] DESCRIPTION • The strategy aims to create and capture new demand, and to make competition irrelevant by introducing a product with unique or superior features. It helps the company in make huge profits as the product can be priced a little steep because of its unique features. • Blue Ocean strategy with the help of an example: • Apple ventured into digital music in 2003 with its product iTunes. • Apple users can download legal and high quality music at a reasonable price from iTunes making traditional sources of distribution of music irrelevant. Earlier compact disks or CDs were used as a traditional medium to distribute and listen to music..

[Audio] BLUE VS RED OCEAN STRATEGY. . . . . . . .

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[Audio] VALUE INNOVATION: CORNERSTONE OF BLUE OCEAN STRATEGY.

[Audio] BLUE OCEAN SHIFT. . . . . . . . . . . . .

[Audio] BLUE OCEAN STRATEGY EXAMPLES • A prime example is Cirque du Soleil. By breaking through traditional boundaries, bridging circus and theater, Cirque du Soleil made a new and profitable blue ocean from within the red ocean of the circus industry.

[Audio] BLUE OCEAN STRATEGY EXAMPLES • Second example of blue ocean strategy is Nintendo. By pursuing value innovation, Nintendo could go beyond competing against the likes of PlayStation and X-Box in a crowded and fiercely competitive red ocean. Instead, it was able to open up a new market entirely. The Nintendo Wii, with its innovative, new features and affordable price point, appealed to an entirely new and expansive market – a blue ocean – spanning non-gamers, the elderly and parents with young children..

[Audio] PROS AND CONS OF BLUE OCEAN STRATEGY. . .

[Audio] THE END. . . . . . . . . . . . . . . . . .