Marketing Strategy

614 Words3 Pages
Kim and Mauborgne’s (2004) article explain that a vast majority of companies focus on stating in the “red ocean” as they are fighting over customers in the same market share. This author explains the reason behind this is that most companies use “competition-based red ocean strategies which has also seen them cut cost and take market share from rivalry competitors. As oppose to focusing on the “ red ocean” Kim and Mauborgne (2004) mention company’s need to begin shifting toward the “blue ocean” if they want to succeed. This can be achieved by offering differentiated products or services; it too can be achieved through reaching out and attracting a different target market. By doing this the author states that they will be moving into an…show more content…
This would also attract differentiated target market. Blue ocean strategy is just about thinking outside the box to your competitors. A lot of people are stuck in the red ocean just because they are not aware of the benifits to a blue ocean strategy. By using this together it brings great ideas which will push for further finiancial needs. Using this as a tool would be essential in order to out gun your competitors and develop new and great relationship with consumers. Hi Duncan, You have done an okay job of articulating the findings from the article, however the purpose of this week blog entry was to directly link it to Mikes Bikes. From what I’m reading I don’t believe you have done this. It was good you made mention of the differences between the blue and red ocean. However this was would of been the perfect opportunity to link it to Mikes Bikes, as the “red ocean” is when you are in a market that is highly competitive (which we are in). I think applying the blue ocean to Mikes Bikes would be hard as we all are given the same products and opportunities. I stated in my blog entry a way we could try adopting the strategy could be by if we notice a gap in the market, act on this. Ie. If there is no team selling high quality bikes at a low price
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