Many strategists get lost down in statistics and income predictions, so they often miss the critical aspects that they should be concentrated on. Why would competition not be significant? It is only natural that a company would rely on Pareto’s 80:20 customer mechanisms. It is a beautiful metaphor indeed: Blue Oceans (and Red Oceans). To help you focus all your energy on crafting the perfect blue ocean strategy for your business, we’ve linked to a number of blue ocean strategy PowerPoint templates that you can download right away! Creating blue oceans builds brands. In our humble opinion, the name contributed the popularity of strategy, but it is definitely not the key merit of this theory. Formulating your Blue Ocean Strategy ANALYSING THE MARKET: TOOLS AND FRAMEWORKS. Because Blue Ocean is “an “and-and,” not an either-or, strategy.”. Blue Ocean Strategy Summary 1. Blue Ocean Strategy ends with ten cognitive traps that can deter you from creating blue oceans or that jeopardize your execution. h޴[�k�7�W���W�f$(��Mr�� �{-�|�s����:�h��{f��.Gt�"ǰ��;��G�����&ŖB)6 The work and analysis you need to do upfront aren’t going to be simple. Blue Ocean Strategy vs. Red Ocean Strategy. And it is through them that you build or point your business toward a blue ocean. How companies approach the process of devising a market strategy and why sometimes is vital to back down instead of pushing forward? Our “Blue Ocean Strategy Summary” outlines only the most key elements. Because by reading more you’ll find so much more intriguing and exciting info about it. It is a marketing theory from the similarly-named book that was published in 2005 and became a perennial bestseller. The Body Shop is another company that, with its affordable, natural cosmetics, has established a new blue ocean in a high-quality industry filled with very expensive competitors. Innovations are happening today at an intense pace due to globalization, mass production, and technology, which facilitate and accelerate the creation of new products, but similar to each other. Some experts divide the population, especially the young adults into two categories: Doers and Delayers (thinkers). That’s why there is no sense to compete in innovations on a red market. This is a good time in this Blue Ocean Strategy summary to cover 3 industries with repeated blue ocean creation. The best way to drive profitable growth? Blue Ocean Strategy By: W. Chan Kim & Renee Mauborgne Summary by: Jesse Starmer COM 459 2. How To Write A Marketing Plan For A Small Business In 7 Easy Steps. You have to see beyond your expectations and focus more on defining the total solution buyers seek when they choose a product or service. A company will have more success, fewer risks, and increased profits in a blue ocean market. “Blue Ocean Strategy” book isn’t suitable only for the business community. I leave you to discover all this and so much more in the first part of W. Chan Kim’s book. Blue Ocean Strategy vs. Red Ocean Strategy, Free Blue Ocean Strategy PowerPoint Templates, Exporting Your Blue Ocean Strategy Slides To PDF, 24Slides’ Blue Ocean Strategy PowerPoint Template, Slide Hunter’s Blue Ocean Strategy PPT Template, How To Design Custom Slides For Your Business PowerPoint Presentation, Competing in the red ocean means aiming to beat your competition, There are tons of competition in the existing market space, Pioneer a product or service in uncontested market space, You’re at the forefront – you’ve got no competition (yet), You create and capture the demand for your brand, The strategy pursues differentiation and low cost, It empowers you through tools and frameworks, Another principle is it provides a step-by-step process, It maximizes opportunity while minimizing risk, Lastly, the blue ocean strategy shows you how to create a win-win outcome. Now get access to your benefits. There may be times when your audience will ask you to email them a copy of your blue ocean strategy presentation. ��p>b��:� tف�[4k�[ʁ4#s'��e��d��7Q��` n� Founded in 1984 by a group of street performers, Cirque has staged dozens of productions seen by some 40 million people in 90 cities around the world. However, the irony is that any discovered blue ocean turns red eventually. Value innovation requires companies to orient the whole system toward achieving a leap in value for both buyers and themselves. How to avoid the fray? To get a broader and broader perspective to the surroundings assumptions, and reports must be made so that you can specify the type of industry and market standards that you should omit, eliminate or even rebuild. Read the rest of the world's best summary of "Blue Ocean Strategy" at Shortform. This 9-slide template will allow you to present your blue ocean strategy in a professionally designed slides. where there is no conflict and growth and profits are plentiful. By doing this they made the competition irrelevant, creating and capture new demand for a service not currently available on the market. But if you can do this, the results will surprise you. This is about markets with a large amount of substitute goods. The distinctive characteristics of a red ocean are as follows: On the flipside, a blue ocean is a market without competitors or even customers. In all honesty, this sort of statements and forecasts inject a dose of skepticism in the minds of all. Create your own market winning business strategy for free. The authors researched the impact of innovative ideas on traditional industries and studied cases from companies such as Tesla Motors and Starbucks, creating a most attractive model of innovation that allows you to rethink the way your business competes in today’s marketplace. How could they do that? But with the blue ocean strategy, you’re creating that market space. Blue ocean is not a monopoly per se, but rather a market that is yet to be discovered by wide audience. Need help getting access? This may seem a strange concept at first, but many of the industries and products you know and use every day – cars, record labels, petrochemicals and even aviation – did not exist in the last century. W. Chan Kim is a professor of strategy and management at INSEAD and codirector of the INSEAD Blue Ocean Strategy Institute, in Fontainebleau, France.

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