Blue Ocean Strategy

When I took up Marstra (Marketing Strategy) 2 terms ago, my teacher was Sir Umali. Sir Umali was able to discuss it in our class. Based on what I’ve learned during the discussion, Blue Ocean Strategy is all about creating a new market instead of competing in an existing industry. The way I understand it, we have to find and create a new market and make it our own. We are creating a demand. Just like what C2 ice tea did. How do we create a new a market? Well, one way of doing it is by Gap analysis, ive learned it also from Sir Umali, where in we identify the gap of the existing product offered in the market. In doing so, we need to identify the needs and wants of the consumer. Combine the results and we are able to come up with a new product. In a way you are trying to fill in the existing gap against the need and wants of the consumers.

It is very important to be innovative, and this is where our subject Emarke comes in. Since the newest venue for marketers to promote their product, internet can also be a great tool to find and create new market. Internet can help us big time in creating a demand.