Blue Ocean Strategy: The Blue Ocean Strategy

766 Words4 Pages
Blue Ocean Strategy takes you beyond the sea, where innovative products prove relatively safe from competition in markets that never before existed. W. Chan Kim and Renée Mauborgne – strategy professors at France’s INSEAD business school – offer a breakthrough strategic manual. The blue ocean approach begins with a “strategy canvas,” a graphic representation of your and your competitors’ products. Finding the blue ocean market – and avoiding the common, cutthroat, bloody “red ocean” – means exploiting rivals’ shortcomings and offering new value to customers. Business leaders must look beyond numbers to see their products as consumers do. Using the strategy canvas, reconstruct the boundaries of your market, discard basic assumptions about where demand occurs and then capitalize on budding trends. Australia’s…show more content…
3 things need to elimate in this industry which is Classic product, Additional unusefull or expensive accessories and items. classic product is old stuff and do not follow the current developments and the latest fashion. Additional also focuses on additional items such as extra fabric is loaded and too expensive and very prominent in the fashion that we provide. unusefull too many items such as clothing accessories.
Reduce is to reduce the cost required. For this industry it focus on 3 main things which is Price, Certain services and Advertisement. to streamline income of each group had to reduce our prices, ith this way the customer will be more convenient for shopping with us because of reasonable price and good quality also. we also reduce certain services such as guest server for each customer. Reduce to much advertisment to ensure that no over spending on

More about Blue Ocean Strategy: The Blue Ocean Strategy

Open Document