Startbucks Blue Ocean Strategy Essay Example | Topics and Well Written Essays - 1000 words

Startbucks Blue Ocean Strategy - Essay Example To fulfill the customers’ requirement the company must look for the interest and taste of the customers. Blue ocean strategies give more importance to the customers then to the competition with the different companies. Fourthly Starbucks has to offer the customers complementary products and other services. This will make the customers happy and they will stay satisfied and as a result they will become a loyal customer of Starbucks. New and innovative ideas should come forth for such offerings. Fifth is that Starbucks has to be more appealing to the customers. The company has to make plans emotionally which will attract the customers. Lowering the prices will appeal the customers and they will welcome it. And the last step which Starbucks has to follow is to look though time, the company should offer the customers products according to their desires, the company should not be time dependent they should maintain their standard and always fulfill the customers’ requirement s. A canvas strategy: The blue ocean strategy must include the canvas strategy which means that the central action and framework of the company must follow the blue ocean strategy. The range of different factors of an industry depends on, invests and competes in and the offerings level of the company with the customers’ acceptance of the product. A graph should be made between these two important factors. The canvas strategy is important for two important reasons, one is that it helps to capture the present situation of the known market space that helps the members to clearly see the points on which an industry competes or battles on, and the places where the concentration of competition is higher in, and secondly it helps to shift focus from competition to finding... This paper shows and discribes the main staps of Blue Ocean. Starbucks is a blue ocean it has been so ever since it started but slowly and gradually they are moving towards becoming Red Ocean which means to compete with others. Blue ocean strategy means that tomorrows main leading companies will not fight with their competitors instead they will open up in places where the competition is absent and will make a mark for themselves or establish a proper brand for which the competition is irrelevant. We are shown the 6 paths framework strategy. According to the six paths framework strategy of the blue ocean strategy to conceive new market space for the specific company, Starbucks has to follow the six main strategically points. First of all they have to look for alternative industries. The blue ocean strategy must include the canvas strategy which means that the central action and framework of the company must follow the blue ocean strategy. The range of different factors of an industry depends on, invests and competes in and the offerings level of the company with the customers’ acceptance of the product. A graph should be made between these two important factors. The three triers consist of the non-customers of the market. These three types of people are turned into customers by following different strategies and they are described in the paper. The paper makes us understand methods such as above the line marketing will be used for elimination , for raise methods like price versus budget analysis will be done , for reduce methods like prestige and complexity will be considered and to create factors like fun will be added. Sustainable method like regular analysis and monitoring the overall coffee market will be adopted to overcome these factors.