This week we are starting to take a deeper look at STP (segmentation, targeting, and positioning) and the associated product innovation issues.
The blue ocean strategy requires managers to rethink their traditional target market segments and product positioning, and create new products to address new market segments with different product positions.
In your essay, please discuss an example of an organization that is trying hard to compete in the read ocean and suggest a blue ocean strategy for it to open a new market space.
In your discussion, please clearly describe the current industry environment the organization is in – why is it a red ocean?
Please justify that the new strategy you propose is indeed a blue ocean strategy.