Blue Ocean Strategy

The Blue Ocean strategy explains many different things about businesses such as what happens when businesses directly compete against each other, Teaches you how to build new businesses where none existed,  this is all great information to know if you really want to make a successful business.

When businesses directly compete with each other everything becomes over crowded, so all the businesses eventually suffer from reduced market share, growth and profit which is why its a good idea to differentiate your self from other businesses.  Instead of copying already successful businesses you should work on creating a business that stands out from the rest which is what the Blue Ocean strategy is all about and explains to you. Some examples of Blue Ocean Businesses are Cell Phones and Biotechnology, these companies never existed 30 years ago but now are some of the largest companies today.

 When creating a business you should always focus on the overall view of the business and not at the stats, if you focus on the stats you will start to loose what you where going for at the beggining and you will start to see your business quickly change.

 You should try and focus on potential costumers instead of focusing on your already current customers. If you  want to make your company grow you should focus on getting more potential customers.

The four "Get the Strategic Sequence Right" steps are:

1: Why should anyone buy your product?

2: Is it fairly priced to appeal to a large audience?

3: Can you create it at the right cost to create a profit?

4: Are there any impediments to discourage the market from accepting your product?

These four steps are crucial to follow when creating a new business or product as just having something fancy will not make you successful, you got to make sure you are doing things right when promoting your product and when selling your product, because even if it's the best in the market no one will purchase it if you over price it.

A company that i feel is Blue Ocean Strategy company is Apple

I feel Apple is a Blue Ocean company because they are always producing new ideas for products, for example the iPod, iPhone both of these are great examples of what makes Apple unique from their competitors, for the iPod they where the first to create a small device that can play videos you can watch, the iPhone allows people to easily call friends, play games, surf the web and tons of other great things.  Those are only just two products from apple that they created to be different from other companies.  I feel Apple is a great company that comes up with new and great ideas that other companies soon start to copy.