They kept the artistic music and acrobatic dance, but added in themes and story lines, something more akin to a theatrical production on Broadway. Cirque du Soleil did away with all of these. Whereas circuses are geared towards children and theater is for adults, Cirque du Soleil combined them both, “offering people the fun and thrill of the circus and the intellectual sophistication and artistic richness of the theater at the same time.” Traditional circuses featured star performers, animal acts, and three rings. The Canadian circus and entertainment company Cirque du Soleil created a blue ocean by following this strategy. It’s not enough to simply create a new product or service, it must also be cost effective for both provider and consumer. Value innovation is when a company introduces new strategies, upgrades, or technologies that are designed to achieve both product differentiation and low costs. Instead, our authors suggest a new strategy called value innovation. When market space is crowded, our authors refer to it as a red ocean-one that is ‘bloody’ from competition. This may give them a slight edge, but the competition will catch up. Most businesses focus on trying to differentiate themselves from their competition-perhaps adding mint, whitening capabilities, or fluoride to their toothpaste. When industries become overcrowded, choosing between similar brands becomes harder and harder for consumers, and “people increasingly select based on price.” Buyers won’t stick to their preferred Colgate toothpaste when Crest is on sale, and vice versa. In politics, part of the reason Donald Trump has become so popular is because he talks and acts differently than everybody else.īlue Ocean Strategy is about applying this same principle in business. The rapper Eminem became one the most popular music acts in the world because he was a white artist in a predominantly black genre. In dating, this is the act of peacocking, which is when someone wears clothing that makes them visually stand out from everyone else at the bar-a leopard print shirt perhaps. This rule applies across the board, whether it be in dating, entertainment, business, politics, etc. The best way to be noticed by others is to differentiate ourselves from the rest of the group.
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