Question

1. Discuss an example of a company that has employed a Blue Ocean Strategy. What are the value innovations that they delivered to customers? In creating a Blue Ocean with no competition, what process was eliminated? What standards were reduced? What standards were raised? What elements from adjacent industries were used to create a new user experience? What advantage does the company have and how will they sustain it?

Answer 1

Blue ocean strategy is used by the organization in order to enhances out their focus on Innovation, growing market. Company with blue ocean strategy have fewer risks, more success and increased profits. It has high focus on competitive benchmarking.

iTunes is one of the example of the company that uses blue ocean strategy. iTunes solves the problem of illegal downloading of music's by its customers. It creates a new category of music sales that will allow the artists to profit and consumer to buy single song versus entire album. It drive the growth of digital music world.

The company push its boundaries in the Industry and offers its customers by immense unique value which is not being delivered by any adjacent industries.

The process of illegal downloading without profit of the artists were eliminated by the company. Free downloading of music were being stopped on the regards of the company.

The standard of competition and services provided in the field of music industries has been raised.

Other elements from adjacent industries provides subscription to their customers for downloading music and free listening of music by using internet.

Company have higher competitive advantages. Company create and capture the demand of its customers very fastly. The company at the same time create differentiation and low cost in its services offered to its customers.