Getting To Know Blue Ocean Marketing Strategies That Can Be Implemented In Your Business

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YOGYAKARTA From various business strategies that need to be known, business people are advised to get to know the blue ocean marketing strategy. In general, the strategy is carried out by looking for a new market for business products. Blue ocean is known as a powerful business strategy to bring profits.

By knowing the blue ocean strategy, business people can apply it to businesses that are developing so that they are able to control the market.

The Blue Ocean strategy or the blue ocean strategy is a strategy that is carried out by avoiding tight competition in one market space. On the other hand, this strategy emphasizes the search for new market spaces and new demand so that there is no need to compete with any business.

This strategy was first introduced by W. Chan Kim and Renee Mauborgne. In this strategy there are two terms to describe the business market, namely red ocean and blue ocean. The term red ocean refers to a market where competition is very tight so that businesses competing in red ocean are forced to compete with each other and even bring each other down.

Meanwhile, blue ocean, on the blueoceanstrategy site, refers to an unknown market space that is not tarnished by business competition. In blue ocean demand is not contested but created. That way businesses are more likely to grow and generate profits quickly.

The application of blue ocean is not easy to do. Businesses are required to be creative and smart to see the existing market. Businessmen also need large capital because companies have to carry out various activities in the new market such as promotional, educational, and branding activities, and all of this is done with a wide market coverage.

There are four actions that need to be taken by business people to implement an ocean strategy on their business, namely as follows.

When implementing this strategy, business people must be aware that not all good in the business is useful for the community. Therefore, do elimination or elimination of things that do not support the product. Instead, optimize the existing product features or other parts.

This point is different from elimination. Reduction or reduction is done by reducing certain elements that are still needed. For example, you reduce the product feature to below production standards.

Reduction is done to save expenses. If after the reduction is done but it does not have much impact on the value of the reservoir, it is advisable to make a mistake.

Businessmen also have to make improvements to the things they excel. If necessary, improvements are made above industry standards. By doing this, you will get a differentiating identity from other products.

Make the creation of new products or things that are not yet available or have never been done by competing industries. This point emphasizes a new breakthrough in order to attract consumer interest. Try to make a creation that can be easily accepted by the market.

On the blueoceanstrategy site, Nintendo's success is one example of implementing a blue ocean strategy. The game company from Japan had competed fiercely with its big competitors, namely Sony and Microsoft, which dominated the market.

But in 2006, the company implemented a blue ocean strategy. As Sony and Microsoft focused on the gamer market, Nintendo studied the non-gamer market to the point of creating Wii, a simple game console, emphasizing functionality, and interactivity. We have summarized what game consoles are.

Nintendo then reduced factors that were considered important such as graphics, clear noise, fast chips, consoles with many buttons, and many more. On the other hand, the games they provide are easy games, more emphasis on fun, and so on.

That's information related to getting to know blue ocean marketing strategies. Visit VOI.ID to get other interesting information.