Subject Business Marketing

Question

Describe the importance of blue ocean strategy and identify a product or service that would be considered a blue ocean move.
Include the following:
A description of blue ocean strategy and its importance.
A product or service that might be considered a blue ocean move and why.
An alternative red ocean move for the same product or service along with the pros and cons of that strategy.
Format your paper consistent with APA guidelines.

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Blue Ocean strategy and the importance
Blue Ocean Strategy is considered to be a unique approach to creating a customer base. Instead of battling the competition in a market that is already crowded, the blue ocean strategy aims towards building a new market segment, which has no existing competitors. This Blue Ocean Strategy theory suggests that the companies would be better off if they engage in pursuing high product differentiation at low cost where they would be gaining uncontested market space, rather then competing traditionally on the market. Earning profits from these new markets and...

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