BLUE OCEAN STRATEGY Red Ocean Strategy Blue Ocean Strategy Virgin Cola Red Bull Competed vs. Coke and Pepsi with Niche product: carbonated traditional cola … But at the beginning of its existence, in 1997, it was one more company competing in the industry of DVDs rental and sales. Apple product iTunes is an example of Blue Ocean Strategy. Red Oceans are described as all the industries in existence today: the known market space. It is all about devising and acquiring the uncontested market forum by spawning a new demand. In Red Oceans, industry boundaries are defined and accepted, and the competitive rules of the game are known. The phrase “blue ocean strategy” describes a market strategy that differs from the conventional approach of entering an established market and attempting to compete with existing players. 1.  Blue Ocean Strategy MKT 421 May 4, 2015 William Alan McIntyre Blue Ocean Strategy While blue ocean strategy entails creating new opportunities where one's do not currently exist, blue ocean strategy does is not exclusive to new business and new segments through R&D. This is an excellent example of the Blue Ocean strategy at work. The concept of the blue ocean strategy was set out in a book of the same name, by W. Chan Kim and Renee Mauborgne in 2005. A path-breaking strategy known as Blue Ocean Strategy is a pacifist marketing scheme and is considered a strategic planning tool for assessing a business. Blue Ocean Strategy - Summary and Examples ... • The aim of BOS is not to out-perform the competition in the existing industry, but to create new market space or a blue ocean, thereby making the competition irrelevant. Red Ocean Strategy. Canon. Image credit: teampay.co. Apple entered into the digital music industry in 2003 with its product iTunes. The strategy states that if you want your business to get into the ‘blue ocean’, you have to create a value innovation . While it is true that competition prevails across industries, sectors, and markets, especially within free-market capitalist economies, the Blue Ocean Strategy argues that the key to true success is to make such competition irrelevant. With the introduction of this product, it becomes easy for the Apple users to download original and high-quality music at a reasonable price. As we’ve already mentioned, there are a lot of businesses that decided the Blue Ocean strategy was the best for them. IKEA is a prime example … Summaries and Takeaways from the Blue Ocean Strategy. Of the many strategic planning models that exist, the Blue Ocean Strategy could be considered the pacifist of the group. The Blue Ocean strategy in the shawarma fast-food industry April 21, 2017 April 21, 2017 ~ Mrs. Rainbow At times, daring to be different cause discomfort to business owners and managers, mainly in overcrowded industries as the shawarma fast-food. Blue oceans can be created from current industry standards by redefining the customer experience. 3 Examples of Businesses Using the Blue Ocean Strategy. - four great examples that have used the blue ocean strategy are Cirque du Soleil, Apple, Nintendo and Netflix - in all four examples there was features customers desperately wanted that was added and other features that were standard in the industry but not important to a large population that were removed Blue Ocean Strategy by W. Chan Kim and Renée Mauborgne. The first company that used the blue ocean strategy is Netflix, a popular subscription-based streaming service. Canon created the industry of the personal desktop copier. Blue Ocean Strategy’s goal is to make the competition irrelevant. Here are 3 of the most notable ones. Based on an eponymously titled book, this strategy argues that “cutthroat competition results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool.”Companies should instead look for new market space and ways to reinvent the industry.