- Watch the video on Blue Ocean strategy.
- Kim and Mauborgne (2005) argue that “those that seek to create blue oceans pursue differentiation and low cost simultaneously” (p. 13). They define this as value innovation and added that ‘Value Innovation is the new way of thinking about, and executing, strategy that results in the creation of a blue ocean and a break from the competition” (p. 13).
What is the difference between Blue Ocean and Red Ocean strategies? Which is more important in establishing and capturing uncontested markets? Support your arguments with research.
Kim, W. C., & Mauborgne, R. (2005). Blue ocean strategy: How to create uncontested market space and make competition irrelevant. Boston, MA: Harvard Business School Press
- Watch the video on branding.
- Brands are important, and may be a company’s most precious asset. However, over time, products may become generic showing very little differentiation; like cereals for example. This is why branding is crucial in differentiating products. When competition is intense, all products soon offer functional advantages: me-too products or follow-the-leader strategies. Accordingly, the only sustainable advantage is brand image.
Some researchers argue that anything can be branded—even something as plain as pasta, like Barilla and Butoni. Do you agree with this statement? And why?
- Marketing can render a brand name generic i.e., it becomes a household name for any equivalent product. Think Google, Aspirin, Kleenex, and Band-Aid. How can the company that owns the brand differentiate its product in its marketing message? Does Bayer for example need to reestablish Aspirin as the brand, and not the product?
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