Blue Ocean Strategy

Blue Ocean Strategy

Prep:  Review the following:

• Read about Blue Ocean Strategy in Chapter 6 of your textbook
• Watch the two YouTube videos posted in this week’s folder

Objective:  To recognize Blue Ocean opportunities

Format:  Word document

Assignment:

All answers should be supported with why, examples, and/or enough information to clarify your point.

Think of a new type of product (good or service) to launch and answer the following questions:

1. What is the product or service and why does this align as a Blue Ocean strategy? (20 pts.)
2. Does market takeoff depend on the development of complementary goods or services that currently are not available? Explain. (10 pts.)
3. Is new infrastructure required before buyer demand can surge? Explain. (10 pts.)
4. Will buyers need to learn new skills or adopt new behaviors? Explain. (10 pts.)
5. Will buyers encounter high switching costs in moving to the newly introduced product? Explain. (10 pts.)
6. Are there influential competitors in a position to delay the efforts of a first-mover? Explain. (10 pts.)

(Thompson, Peteraf, Gamble, Strickland III, 2014)

Based on your responses to the above 6 questions, do you believe your product would make a better first- mover or should you wait until the market is further developed? Why? (20 pts.)

Spelling and grammar. (10 pts.)