Maximizing The Size Of The Blue Ocean Essay

Customers want the business to produce quality products at reasonable price. You have different types of customers. There are different types of customers there are loyal ones, young ones, elderly, family or one-time customers.

The film The Sea Inside shares the heart warming real life story of a man named Ramon Sampedro. At the young age of twenty-six he suffered an accident while diving into shallow waters of the ocean that left him a quadriplegic. Now at the age of fifty-four, Ramon must depend on his family to survive. His older brother Jose, Jose’s wife, Manuela and their son Javi do their best to take care of Ramon and make him feel loved. Although Ramon is extremely grateful to his family and friends for their help all these years, he has come to see his life as aggravating and unsatisfying. He wishes to die with the little dignity he has left in his life. However, Ramon’s family is dead set against the thought of assisted suicide and the

Customer profitability was a determinant used for segmenting and targeting, studies were done on customers’ likes, dislikes and types of products they would benefit from and models were developed to determine their propensity to buy.

It needs to be a specific group of customers. Sometimes using stereotype images can help to describe a group, such as the “soccer mom.”

If you have ever lived in proximity to coastal areas you may have seen coastline erosion first hand. The beaches you frequent during the summer may seem to be getting smaller and smaller every year. Why does your favorite beach seem to be disappearing? Coastal erosion is to blame. The waves, wind, tides and currents all play a part in the mechanism that is coastal erosion. When water and wind batter the shoreline sediments are carried out to sea and deposited on the sea floor or at other points along the coastline. This is called an erosional coastline. This erosion may be very apparent or seem to have happened overnight when it happens due to a large storm or extremely high tide.

understanding if a certain segment of the market will truly appreciate a product or service to be

Ever since Sea World opened it’s gates in 1959 it has been mistreating aquatic sea life and endangering employees. In the next few months there should be a petition emailed to everyone who is subscribed to any wildlife protection groups encouraging everyone to voice their concern. As of today there are a large number of citizens of the United States and several other countries spreading the word of the awful conduct of Sea World and their mistreatment of endangered wildlife.

Markets consist of buyers that differ in their needs, wants, resources, locations, buying attitudes and buying practices. To reach customer insight, it is important to understand the needs of different segments and to communicate pertinently to them (Brown L, Brown C, Gallagher SM, 2008).

According The Wall Street Journal” … Cirque du Soleil, the Canadian company that redefined the dynamics of a declining circus industry in the 1980s. Under conventional strategy analysis, the circus industry was a loser. Star performers had “supplier power” over the company. Alternative forms of entertainment, from sporting events to home entertainment systems, were relatively inexpensive and on the rise. Moreover, animal rights groups were putting increased pressure on circuses for their treatment of animals.” (Murray, 2014) A new era was created transforming the concept of what is a circus today. As the Wall Street Journal described, “Cirque du Soleil eliminated the animals and reduced the importance of individual stars. It created a new form of entertainment that combined dance, music and athletic skill to appeal to an upscale adult audience that had abandoned the traditional circus. (Murray, 2014)

- Product design is not according to the preference of the customers that makes it hard for consumer acceptance.

* Customers – Customers is external stakeholders for all organization or firm. Without any customers a company cannot be process. Customers have power to choose their necessary service and products. Seller and marketing cannot force customer to purchase product and service. Example, insurance customers have many choices when they need to purchase insurance. That mean consumers can buy insurance in different company like Tesco Bank, Lloyd Bank, HSBC and other company.

First, we will analyze the targeted customer and the proposition designed by each company to attract them. In this part, there is a description of each market target and how each company has taken advantage of each unique position in the industry.

This is done by creating a leap in value both for the buyers as well as for the organization thereby creating a new and uncontested market space. Companies left out in the red ocean usually follow a conventional approach, running to beat competition by creating a defensible position in the current market space order.

BOS is a kind of strategy which be inspires to innovate and focus on develops new demand and new markets through selling products e.g: Ipod, Ipad instead of fighting with the competition over the same market share as well as satisfying the same demand from the customers which is typically done in a red ocean strategy (ROS). In other word, BOS represent "untapped market space" and the opportunity to gain high profit for the companies. They urge companies to enhance the value of innovation by focusing more on price, utility, and cost positions. In addition, companies also suggested creating and capturing their new customers demand as well as keeping their focus on the big picture, not the numbers. (Kim and

There are some tool produce to help implement blue ocean strategy. The Eliminate-Reduce-Raise-Create (ERRC) Grid is the matrix that help execute blue ocean strategy with the four action framework: eliminating, reducing, aising and creating. ERRC Grid help company to remain on their competitive factors. Eliminating and reduce the factor that the transitional industry take it for granted can help the new strategy to remain unique from the transitional market. Nevertheless, raising and creating some unique competitive factor the transitional market never or seldom offered that is above the industry standard. With all these “Four Actions Framework” the company can escape the transitional red ocean market by activate a new blue ocean market and create a new value curve. (Kim & Mauborgne, 2005)