Blue Ocean Strategy It’s a big ocean out there! When pursuing a blue ocean strategy, executives try to create and exploit vast untapped markets

lue Ocean Strategy It’s a big ocean out there! When pursuing a blue ocean strategy, executives try to create and exploit vast

untapped markets rather than competing directly with rivals. We provide several examples of firms following a blue ocean strategy below.

6.2 Making Competitive Moves 186

The interactive features of Nintendo’s Wii transformed playing video games from a hobby for the hardcore gamers into a treasured family event.

Coffee shops were once the domain of old men, insomniacs, and chain-smoking urban hipsters. By reinventing coffee shops, Starbucks made the $4 latte a must-have item for college students, businesspeople, and soccer moms.

At a time when cars were only for the wealth, Henry Ford envisioned cars that were affordable to the typical American. Ford priced his vehicles so that his assembly line workers could afford them.

eBay’s invention of online auctions extended the auction experience–and the chance to buy that rare Elvis plate–to anyone with Internet access.

Golf can be frustrating to even skilled players. Callaway’s creation of the Big Bertha club with an over-sized head made golf appealing to a whole new set of weekend warriors.

A classy, affordable wine for novice wine drinkers? Casella wines (maker of Yellow Tail) steered clear of wine snobs and sommeliers and instead created fun and simple tastes for the masses.

Bricolage

Bricolage is a concept that is borrowed from the arts and that, like blue ocean strategy, stresses moves that create new markets. Bricolage means using whatever materials and resources happen to be available as the inputs into a creative process. A good example is offered by one of the greatest inventions in the history of civilization: the printing press. As noted in the Wall Street Journal, “The printing press is a classic combinatorial innovation. Each of its key elements—the movable type, the ink, the paper and the press itself—had been developed separately well before Johannes Gutenberg printed his first Bible in the 15th century. Movable type, for instance, had been independently conceived by a Chinese blacksmith named Pi Sheng four centuries earlier. The press itself was adapted from a screw press that was being used in Germany for the mass production of wine (Johnson).” Gutenberg took materials that others had created and used them in a unique and productive way.

 

Looking for a Similar Assignment? Hire our Top Techical Tutors while you enjoy your free time! All papers are written from scratch and are 100% Original. Try us today! Active Discount Code FREE15

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *