/GettyImages_482194715-56a1329e5f9b58b7d0bcf666.jpg "ocean blue")
It is a simultaneous process of opening a new business market and creating new demand therefore, competition is irrelevant. Chan Kim and Renée Mauborgne together introduced the Blue ocean strategy in 2005. Blue Ocean Strategyīlue ocean strategy refers to the uncontested marketing policy that focuses more on the innovation to reinvent the business than the head-to-head competition. Secondly, the company needs to focus on cost and differentiation, which is difficult for a new business. Disadvantages of Red Ocean Strategyįirstly, The competitors are experienced in this market so difficult to beat them.
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Many customers want the products so, the new companies can utilize the existing consumers.Īdditionally, the company can recruit skilled employees easily who have deep experience in the sector.įinally, the new companies can get ideas on how to improve the business from their competitors. Secondly, the services and products have good demand by the customers. Advantages of Red Ocean Strategyįirstly, the market has already existed, so no need to create a new marketplace. The ocean gets bloody due to the fierce fight of sharks.
So, imagine what will happen if all these sharks fight with each other. Suppose we infer these giant companies with sharks and the marketplace with the ocean. It is a real-life example 0f the Blue Ocean Strategy. So, they fight each other in the same marketplace. On the other hand, Malaysia Airlines also reduce the price to beat Air Asia. Air Asia offers low prices in domestic and international flights to beat the competitors. It always tries to compete with other airline companies in Malaysia, for example, Firefly, Malindo, and Malaysia Airlines, to achieve competitive advantages. Red Ocean Strategy ExamplesĪir Asia is a renowned airline company in Malaysia. Finally, they more attention to the current customers instead of looking for new clients.įor example, Malaysia and Air Asia Airlines follow the red ocean strategy to beat their competitors. Additionally, the company is intended to provide better service to buyers. The marketing team pursues both product cost and differentiation to beat other companies. So, multiple companies compete with each other to achieve competitive advantages. Characteristics of Red Ocean Strategyįirstly, the red ocean strategy focuses on competing in the existing market. So, they provide better services and products to attract customers.
It mainly focuses on the existing customers and buyers rather than creating new customers. Red ocean strategy influences the company to provide better service to buyers. These companies contest in the same marketplace to beat their opponents. It is demonstrated when many companies compete to achieve a competitive advantage in the existing market. Red ocean strategy refers to the traditional marketing strategy to compete with the competitors. Also, Blue Ocean Strategy Four Action Framework. Examples of Red Ocean and Blue Ocean Strategy.
Difference Between Blue ocean and Red ocean strategy. This band is just so pure in terms of their sound, it's so easy going and this is what Indie music should sound like in it's gloriest form.Red Ocean Strategy and Blue Ocean Strategy Examples & Difference in 2022. 'Drifting, falling' done something magical to the audience, people just began screaming and cheering, a group of girls even started dancing around it was good to see. The audience singing each line and each lyric to their songs, a crowd pleaser is their beautiful song 'Mercury' I myself did not know the lyrics to this song, but that did not matter because once I heard it, it was as if the lyrics unfolded themselves before me with minimal effort. With their deep riffs and gentle drum patterns, each note is hit with precision and care evoking the emotion in even the toughest of hearts as their music eases it's way into your mind, like melting chocolate under a fire.ĭiving into their concert is perhaps one of the most pleasant experiences I have lived through. I think Indie pop has found its favourite colour and that is Ocean Blue!įour is the magic number, at least that is what this band will have you believe as that is how many are in this band.
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