Blue Ocean Strategy Paper
Blue Ocean Strategy PaperBusinesses always have the option of revolutionizing the current market or creating an entirely new and different market. It is always necessary to have some innovation within the market, which is known as the read ocean strategy, because products can always use a change or improvement. The second strategy, of creating a new market is known as the blue ocean strategy and takes things to a new level. When the blue ocean strategy is used, that means there has been a brand new product released or a new business invented. It is a unique approach to growing a customer base and these types of strategies are vital within the business cycle because it represents an all new, uncharted territory in business. Our society would have never been able to advance so much if it were not for the blue ocean strategies. Rather than creating new products in different industries, we would have just kept changing the little bit that we had already made. The blue ocean strategy is the idea of building a completely new market that has never existed before.
A Blue Ocean MoveIn the technology industry, there have been a lot of blue ocean moves in the last 10 years, my favorite being the Nintendo Wii. This product changed the entire gaming world and brought a lot of excitement to video gaming, even for those that had never been interested in video games before. It was the first gaming system that was based of body movements while holding the controller rather than having to push buttons. Just about everyone took part in experiencing the new system and Nintendo managed to build a very large market with this new technology. Another one of the perks of this product was that it seemed to be around the same time that America started to pay more attention to the obesity problems that our country faces and this was a fun way to start getting active and making lifestyle changes for so many people.