A wide variety of organizations (i.e. Marvel, Skype, Zappos, Salesforce, and Wikipedia) have used the Blue...

A wide variety of organizations (i.e. Marvel, Skype, Zappos, Salesforce, and Wikipedia) have used the Blue Ocean Strategy. This suggests that companies can succeed, not by battling competitors, but by creating ″blue oceans″ of uncontested market space

Discuss.how digital transformation can help capitalize on the Blue Ocean Strategy

Solutions

Expert Solution

The Blue Ocean Strategy involves simultaneous doing of differentiation and also of low cost to in-effect open up a new market space. This in turn creates new demand.

The organization which does so captures uncontested market space thus helping itself with the first mover advantage of a new market space. This is basically done when there are a lot of competitors in the same segment. Also the competition is made irrelevant.

Digital transformation can be of help in terms of creating the demand as well as capturing a wider customer base and ensuring that no other competitor can get a major share of the new market hence created. While it is impossible to sustain 100% of the share of new market as me-too products and new innovations would continue, but digitization will help in at-least retaining and also expanding to a larger base of customers in the new market by the new entrant.

Digitization will also be of help in case of price competitiveness i.e. if there is a new competitor who launches a similar product in a particular price point, then digitization will help the space creator to start a price war if deemed necessary to retain its own clientele.

jeff jeffy answered 1 year ago

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