Blue Ocean Strategy- A Marketing Book

BLUE OCEAN STRATEGY

Blue Ocean Strategy

Introduction

Blue ocean strategy is a marketing book by W. Chan Kim and Renee Mauborgne in the year 2005. The book mostly borrows from a range of over 140 strategic marketing moves within a period of over a century. The book succeeds in showing how businesses, can outdo their competitors. Not because of battling them, rather, because of what the authors refer to as blue oceans, which consists of uncontested market space.

Body

The book gives a detailed outline of how companies should engage each other in the market wars while maintaining and bringing on board new customers. They successfully do so by presenting tools for the implementation of a successful marketing strategy, and the determination of blue oceans (Kim & Mauborgne 2005). They also review a pool of strategies used while analyzing their strengths and weaknesses. These moves create what scholars refer to as, value innovation. Under a strategy that makes competitors almost inactive, by a process of creating new demand.

In the present times, most industries are experiencing an influx in the number of companies that seek to provide identical products. They engage each other in tight competition, for profits and business growth, thus, translating into a marketing war determined by differentiation. Blue ocean strategy focuses mainly on six principles that it views as key in formulating and executing successful blue ocean strategies. These principles give a clear guideline on how to, achieve a strategic sequence, deal with organizational challenges, reconstruct market boundaries, attain markets beyond existing demand, focus on the larger market and how to successfully incorporate execution into strategy.

The analytical fra...

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...ionals. Many argued its strategy of combining differentiation and low cost as a viable option in profit maximization (Lauer 2007). The book was first documented at the Harvard business review as a scholarly article in 1997 and it was up until 2005 that the article passed into a book for publishing.

References

Kim, W. C. & Mauborgne, R. (2005), Blue ocean strategy: how to create uncontested market space and make the competition irrelevant. Boston, Mass.: Harvard Business School Press.

Kim, W. C. (2012), Blue ocean strategy: how to create uncontested market space and make the competition irrelevant. S.l.: Must Read Summaries.

Lauer, C., & Kim, W. C. (2007), Featured book review Blue ocean strategy: navigating the oceans: how to render business rivals irrelevant by creating new market space: review. Concord Ville, Pa.: Sound view Executive Book Summaries.