Even if new entrants for the industry in the blue ocean try they will find many barriers to imitation like customer loyalty which built through the years and the cost disadvantage of issuing similar product by competitive price. Kim & Mauborgne (2004 P.8) stated that ‘Companies that create blue oceans usually reap the benefits without credible challenges for 10 or 15 years’. Most of companies take the easy path by establish its business in existing market full of similar products and consume its time and efforts in competition as a red ocean area rather than take the initiative as a blue ocean that guarantee competitive advantage which is difficult for competitors to imitate has 2 deferent screen mode to protect your eyes.Competing in overcrowded marketplace or create a less contested one!!!!ĭue to the high competition in the global market of all industries and increasing of competitors in the same industry Kim and Mauborgne (2004) assumed the blue ocean as innovation strategies in the marketplace that differentiate the organization from its competitors not only by competing but also by inventing competitive advantage through new products or service that gain its new share in the market and provide a great value of satisfaction to the customers. Nice smooth design, simple and interface interface that allows you to easily use the application. You won't need to search in different sites for this book, today our app allows you to easily download & install this item in one click. The authors define blue oceans as those markets associated with high potential profits. The term blue ocean was coined by insead business school professors Chan Kim and Renee Mauborgne in their book Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant (2005). Īnd the term refers to the vast "empty ocean" of market options and opportunities that occur when a new or unknown industry or innovation appears. Blue ocean is an entrepreneurship industry term created in 2005 to describe a new market with little competition and less budget to start and avoid mistakes that destroy new companies.
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