Book Chapter Summary - Blue Ocean Strategy

timer Asked: Mar 5th, 2019
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Question Description

  • A book chapter review on Chapters 1, 2, 3, and 6 of Blue Ocean Strategy
  • A review needs to cover the following three components:
    • A brief summary of the chapters - covering main themes and stores in chapters. (About 1 and half single-spaced page)
  • With a font type of Times New Roman, a font size of 12, and 1 inch page margins

Tutor Answer

School: New York University



Student’s Name



Blue Ocean Strategy Book Summary
Chapter 1: Blue Ocean Strategy
In this chapter, the strategy is set o a declining market where the key players had quit the
market hence any entrant was to receive an undisputed response from customers in the market.
The power of the supplier was so strong that dictated the buyer power to match the selling pace.
Another critical component that compelled the success of Cirque du Soleil’s success was not
becoming successful by taking customers from a falling market but the great care about children.
Upon launching the product, Blue Oceans created a very huge impact to the market that was
summarized as follows: the launch attracted 86% of the customers, revenue was realized at 62%,
and the achieved net profit for the first year in business was 39%.
Chapter 2: Analytical Tools and Frameworks
The formulation and execution of Blue Ocean had taken over a decade in making an
actionable and systematic way through the waters of the already known market space. Many
companies in the world were studied. After the study, the managers came up with one practical
methodology that was the quest of blue oceans. However, intense competition resulted in many
consolidations in the industry. One of the strategies used was the aging quality of wine and the
use of a diverse variety of wines in meeting consumer preference. Despite the challenge of trying
to win the market, four major questions needed answers before a successful take over on the
market could occur. The questions were as follows:

What are the eliminated factors in the industry?
What are the factors to be reduced below the industry setting?
What are the factors to be raised above the industry setting?
What factors need to be created?

Chapter 3: Reconstruct Market Boundaries
The first and major principle used by Blue Ocean was to ensure reconstruction of the
market structure. In the process of reconstructing the mart structure, six basic steps were found to
be of help and they include:

Defining the similarity and focus of the industry
Focusing on the same group of buyers
Making a definition of the scope of services and products to be offered to the mark...

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