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Some examples of companies that have successfully implemented the Blue Ocean Strategy, apart from Cirque du Soleil, include Southwest Airlines, Nintendo (with its Wii console), and Yellow Tail (in the wine industry). Southwest Airlines created a new market space by removing certain features that other airlines offered, thus reducing costs and offering lower fares. Nintendo's Wii opened up a new market by targeting non-gamers, which was a largely untapped customer base. Yellow Tail made wine more accessible and easy to choose, attracting a new group of customers.
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By understanding the current state of the circus industry and rethinking the traditional circus customer, Cirque was able to create a demand for a different experience, effectively eliminating traditional competition in the industry. Using the principles of the blue ocean strategy, they were able to reinvent the circus experience and create a whole new market in a declining industry. By refusing to compete in the existing red ocean, Cirque found a profitable niche and a unique product that put them in a position of market dominance.
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This book challenges readers to rethink traditional incremental innovation approaches. Typically, head-to-head competition is the norm for increasing...
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How can you effectively capture new markets and acquire demand against ever-so-fierce competition? Blue Ocean Strategy steers the focus away from your current marketplace and instead tread new territories that make existing competition irrelevant. Use this presentation to learn and implement Blue Ocean and innovate your business strategies.
What positions your organization as a force to be reckoned with? Use our Core Competency Analysis deck to select, develop, and analyze the resources and skills that distinguish you in the marketplace.
Use your Strengths to overcome Weaknesses, and seize Opportunities to overcome Threats with our SWOT Analysis deck. Devote your resources on campaigns and initiatives that drive success.
Understanding your position in the market by comparing yourself against your competitors. Use our Competitive Landscape Analysis presentation to finetune your objectives and approaches and save hours of work.