instal the last version for apple Blue Ocean Strategy

Apple ventured into digital music in 2003 with its product iTunes.Īpple users can download legal and high quality music at a reasonable price from iTunes making traditional sources of distribution of music irrelevant. Let's understand Blue Ocean strategy with the help of an example. It helps the company in make huge profits as the product can be priced a little steep because of its unique features. The strategy aims to capture new demand, and to make competition irrelevant by introducing a product with superior features. A blue ocean exists when there is potential for higher profits, as there is now competition or irrelevant competition. When there is limited room to grow, businesses try and look for verticals or avenues of finding new business where they can enjoy uncontested market share or 'Blue Ocean'. This situation usually comes when the business is operating in a saturated market, also known as 'Red Ocean'. When the product comes under pricing pressure there is always a possibility that a firm’s operations could well come under threat. In today's environment most firms operate under intense competition and try to do everything to gain market share. But, let's first understand what is Blue Ocean and how it is different from Red Ocean strategy. This strategy revolves around searching for a business in which very few firms operate and where there is no pricing pressure.ĭescription: Blue Ocean Strategy can be applied across sectors or businesses. Definition: 'Blue Ocean Strategy is referred to a market for a product where there is no competition or very less competition.

Instal the last version for apple Blue Ocean Strategy