New Product Generation

Blue Ocean Strategy Paper Establishments are not eternally remaining on the market in a productive way. It is normal to find industries that make wise decisions, but there is also the possibility that the decisions taken have not been the best. The mission as marketing managers is to discover the wise decision that would mark not only within the industry, but also in the market with the purpose of repeating that decision in a clever and a systematic way. Redbox creates their new brainchild in 2002 McDonald's Ventures, LLC. The original idea was that two important services were combined in the movie rental

One of the more recent concepts of strategy is the blue ocean strategy which was developed by W. Chan Kim and Renee Mauborgne. The strategy is basically built around an analogy of the red ocean and blue ocean. The idea of the red ocean is that of an environment that is filled with sharks and the water is bloody, signifying a crowded market. The blue ocean on the other hand signifies an open and nurturing environment. Companies that choose to adopt the blue ocean strategy have several advantages:

The Civil War inadvertently brought ready-made clothing to us, and it is here to stay. The era of ready-to-wear clothing, though a revolution in itself, should also be viewed as a positive trend that continues to provide consumers with time-efficient and abundant choices through advancements in machinery and new distribution models. Though arguably the unforeseen outcome of a coincidence, the impacts of ready-made clothing have had huge implications on our everyday lives. Thank you for your

Chip Wilson, founder of Lululemon Atheltica, was an outdoorsy man in the business of surf, skate, and snowboarding. After taking the opportunity to try a yoga class in Vancouver, he came to find the experience quite wonderful. One thing he did not find so wonderful was the discomfort of the cotton clothing on his body after sweating from exercise. To solve this issue, he decided to take matters into his own hands. Who knew one man’s interest in the technicalities of fabric would lead to a multimillion-dollar, international company that thrives on product development and healthy-living (Lululemon Athletica, 2014).

An example of Blue Ocean Strategy business would be “Le Cirque du Soleil.” At some point of our life we did went to see the circus. The circus’ performances were very popular for many centuries. This is an old concept - a group of artists and acrobats who travel the world with a tent, and with a diversity of wild animals to perform a spectacular show. The primary target was the children. Today, this concept is obsolete, although still exist in Europe.

Companies who have the ability to transform a myriad of customer inputs, insights from market trends and also innovate internally then transform these many factors into best-selling products illustrate best practices in new product development (NPD). The processes and systems they put in place to accomplish this are what give them sustainable competitive advantage over time. There are many examples of companies who excel in these processes and systems including Salesforce.com, who is the global leader in the sales of Software-as-a-Service (SaaS) based applications, in addition to Apple who continues to lead a customer experience revolution in high technology products. These two companies illustrate how a digital product differs from a physical product and how the NPD processes, systems and strategies can lead to sustainable competitive advantage over time. One of the most potential differentiators and long-term sources of competitive advantage is the ability to excel at NPD and innovation.

The idea of saving the planet is not new to the fashion industry, and many designers and merchandisers have been vigorously looking for ways to make sure their garments have less of a negative environmental effect. Catalytic Clothing shows that just by simply wearing a garment we can stop the increase of deadly pollution, which I will be looking into further in this report to show the outcomes which could be made if commercially produced.

Innovation is essential for any organization which seeks continued relevance in the market. This innovation might come in two forms, disruptive or sustaining. Accordingly, disruptive innovation seeks to enter an unexplored market with a product which is unlike any that the organization has at the time, and seeks to acquire a new pool of clients. This initiative needs to be considered as being capable of generating value for potential users. In the other

This strategy seem challenging since this strategy focus on capture new market and new demand, which it’s required extra efforts in term of innovation of products and promotion in order to make customers realize about their product. Even there are some discussions about the blue ocean strategies; however, based on my review on customers comment said that the practical guidance on how to create them is limited. Therefore, without usual analytic framework which can be used as guidelines to create blue oceans as well as effective principles to manage risk, creating blue oceans viewed as too risky for managers to pursue as strategy for their company.

Nowadays many new companies have emerged in the markets this will cause a lot of conflicts in the crowded marketplace in order to stay in the competition, success and gain profits. The competition is often so severe that some companies cannot sustain themselves and may stop operating. Therefore, W.Chan Kim and Renee Mauborgne whom are professors of strategic management they develop a blue ocean strategy as a new way of thinking to make this competition irrelevant and creating new market space. It is also demonstrates how the companies traditionally work in red ocean conditions where companies are fighting fiercely against each others to gain a share of the market.

Through development, research and the help of technology, products can be created that are essential in the medical industry. The technical textile products need to adhere to set standards and regulation to ensure a product of quality, reliability and credibility. This ensures safety and effectiveness in the use of technical textile products. South African companies who form part of this innovative practice include: Priontex, Gelvenor Textiles, Surgitech and Clinisut.

Blue Ocean Strategy is a business strategy book that helps creating new market environment compared to the existing competing environment between industries. The author of Blue Ocean Strategy book known as W. Chan Kim and Renee Mauborgne and it was published in 2005. Basically, this book is illustrating on how the high grow and organization profit can be generate by creating new demand in new market environment.

There are some tool produce to help implement blue ocean strategy. The Eliminate-Reduce-Raise-Create (ERRC) Grid is the matrix that help execute blue ocean strategy with the four action framework: eliminating, reducing, aising and creating. ERRC Grid help company to remain on their competitive factors. Eliminating and reduce the factor that the transitional industry take it for granted can help the new strategy to remain unique from the transitional market. Nevertheless, raising and creating some unique competitive factor the transitional market never or seldom offered that is above the industry standard. With all these “Four Actions Framework” the company can escape the transitional red ocean market by activate a new blue ocean market and create a new value curve. (Kim & Mauborgne, 2005)

Technological advances during the past decade have opened many new doors for the Textile and Apparel industries, especially in the area of rapid prototyping and related activities.

The case explains that for 10 years, Shanghai Fabric Ltd., a Chinese fabrics company, and Rocky River Industries, a United States textile manufacturer, have been part of a 50-50 joint venture to produce dye and fabric. This venture, called Shui Fabrics, produced dye and coat fabric for domestic and international sportswear markets. Ray Betzell, general manager for five of