Title: Blue Ocean Strategy: Its Advantages, Disadvantages, and How to Create Imitation Barriers

Authors: Moutushi Dey, Ph.D.

DOI: 10.33599/nasampe/c.24.0271

Abstract: " The market entry strategy, known as the Blue Ocean Strategy is well known. The Blue Ocean strategy was introduced by Mauborgne and Kim in 2005 to help create non-existent new markets and avoid cutthroat competition in the conventional Red Oceans or existing markets. In traditional Red Oceans, cost-cutting, and being reactive to competitors’ cost-cutting is the key to survival but in the Blue Oceans, as new market demand is created either by extending the boundaries of the Red Ocean or creating a totally new market, moving away from the status quo, and value innovation are more important than the cost-cutting. This strategy has its pros and cons associated with it. In today’s world, when different industries are trying to introduce new advanced technologies in the market, understanding the basic principles of the Blue Ocean strategy and how it differs from the Red Ocean strategy has become important. In this paper, the justifications for the Blue Ocean Strategy, its differences from the Red Ocean strategy, its strategic framework, how to use it to find uncontested new market space, advantages, disadvantages, and how to create imitation barriers have been discussed with the qualitative analysis of some general case studies. This study encompasses a brief literature review and discusses the different steps of the Blue Ocean Strategy (BOS) framework, known as the Four Action Framework (Eliminate, Reduce, Raise, and Create), and Six Searching Paths Framework (SSPF) for easy and equitable access for manufacturing companies."

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Conference: CAMX 2024 | San Diego CA

Publication Date: 2024/9/9

SKU: TP24-0000000271

Pages: 14

Price: $28.00