Blue Ocean Essay

591 Words Jun 14th, 2013 3 Pages
Date: 02/05/2013
Article: Harvard, Blue ocean strategy

“Competing in high overcrowded industries is no way to sustain high performance. The real opportunity is to create blue oceans of uncontested market place.” This quote that is on the top of the first page just about sums up the article, but I will go further in depth in what the article says. What is the best way to drive profitable growth in an industry? Or company? According to the article it is to enter into the market place that is not existent today that has no or little competitors. This is known as blue ocean. Red ocean on the other hand is the already existent market place that has a high number of competitors; all of the boundaries are already defined and
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As we may think that competing with our competitors is like war because we are targeting the same customers we must also target new customers in the blue ocean. Should we create new products and new sales strategies in order to rope these clients in? I believe that this article is right on point. The article gives reference to history and how products are always changing and always going to change. As sellers and as leaders in the market place we need to have a roll with the punches mentality and learn to adapt. But not only do we need to learn to adapt but companies need to spend the money to become more blue ocean strategic and research and design new ways to grow. I like the fact that most blue ocean strategies stem from already existing companies and that they are just expanding from their core components. I saw an Account Executive from Altria speak last week. He spoke on expanding the company through adjacent products. They are not creating totally new products but instead they are marketing electronic cigarettes and cigars apart from their main source, cigarettes. I thought that this was a perfect example of a company leading innovation and using the blue strategy

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