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Thread: Blue ocean strategy?

  1. #1 Blue ocean strategy? 
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    I just read about this strategy. can anyone describe some advantages of this strategy?


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  3. #2  
    Time Lord
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    Blue Ocean?

    Blue Ocean Strategy - Wikipedia, the free encyclopedia (Be warned, the opening part is full of buzz words)

    So if I understand it right, the idea is that there are Blue Oceans and Red Oceans, and a Blue Ocean is a market you've freshly discovered that has no competitors in it yet. (A Red Ocean is a market that is full of fierce competition.... red with blood.) The strategy is about trying to find Blue Oceans. The advantage is that you're innovating if you use it. The disadvantage is .... it makes it hard for consumers to compare your product against your competitors' products if you're not following the established formats. It can be used just as easily to hoodwink people into buying something bad as it can to open new possibilities to them.

    Also, new products can be hard to regulate. The reselling of mortgages that precipitated the Housing Crisis a few years back was basically an attempt to create a new financial product. Regulators were late in recognizing the dangers of it, and didn't impose sufficient restrictions to keep it from getting out of hand, and it was mistakenly assumed by the financial community to have a much higher reliability than it ought to have had.

    Probably an example of something good would be say.... Red Box. It competes with video rental stores, but it's not a video rental store. It breaks the accepted "format" of video rental stores. Probably a number of rental stores will remain in business in spite of it, because it doesn't offer all the advantages of a video rental store. You might say it has stolen a portion of the water out of a Red Ocean and turned it Blue. At least for the time being.


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