Blue Ocean Strategy and your online marketing agency
Have you heard of the Blue and Red Oceans? Surely, almost all companies have swum to the Red Ocean. For centuries, business owners have concentrated their efforts in competing in an already identified marketspace – a place where thousands of businesses offering the same product and/or service are sharing in a limited number of customers. The competition is so stiff that sometimes some businesses employ improper strategies for the purpose of getting customers.Not a great number of business owners who are looking for digital marketing or online solutions know about the concept called Blue Ocean Strategy.
BOS is a relatively new business strategy. For the sake of having knowledge about BOS, offshore virtual team provider WEBHOUSE ASIA gives you the information you need.
Once in a blue moon
In 2005, authors W. Chan Kim and Renée Mauborgne from The Blue Ocean Strategy Institute of a private business school published a book containing what they believe in as the best organizational strategy to generate growth and profits.
The book attempts to answer a basic question that has been lingering in the mind of every business owner of today: “What has to be done to lead in a marketplace that resembles to a red ocean?”
Blue Ocean Strategy can be classified as an optimistic view of doing business. It sees the marketplace as a venue filled with both existing and untapped market, rather than a chaotic place where head-on competition prevails.
The foundation of BOS lies on the principle of Value Innovation, which is the first part of the book that discusses about the pursuit of differentiation and low cost. The four principles of blue ocean strategy formulation are highlighted in the second part – how to create uncontested market space by reconstructing market boundaries, focusing on the big picture, reaching beyond existing demand and getting the strategic sequence right. Lastly, the third part tackles the two key implementation principles of BOS – tipping point leadership and fair process.
A reconstructionist view, BOS eliminates the thought “Your company’s loss is my company’s gain.” Proponents of BOS believe that there is so much fish in the sea that businessmen need not compete intensively with each other. The challenge with having a demand vast and varied is how to create them.
The most popular example of a firm that applied BOS is Cirque de Soleil. The circus industry is experiencing a long-term decline; add to this the protest of animal rights advocates against the use of animals in circus shows.
Amidst the unsteady state of the circus industry, Canada’s largest cultural exports managed to increase its revenue by creating the blue ocean, a newly-tapped demand that was once unrecognized by the other leading circuses.
How your online presence can help
Getting your company known world-wide is possible through a website. Web maintenance is possible through a virtual web team that is dedicated to performing the best online service that you need. WEBHOUSE ASIA offers a Dedicated Virtual Web Team . WEBHOUSE ASIA will form that team taking into consideration the project requirements or the qualifications you set. Upon your perusal and approval of team members’ skill set, the Virtual Web Team will occupy a separate room and report 40 hours a week, dedicated to your account. Included in the package are computers with microphone and camera to allow interactivity, so you can do project briefing with the entire team as if they’re just next to your window.
Talk to us and together let us discuss how we can create and reach a new marketspace.