Blue Ocean Strategy and Burberry

In the current business world, firms face intense market share, growth, and survival competition to increase their profits. The competition leads to firms adopting unethical business practices, which minimize their profits in the long term (Gwal and Gwal 401-402). Organizations that compete in dynamic sectors aim to fulfill their customers’ demands. International markets guide firms’ versatile supply for the increasing demands of their consumers and establish fierce rivalry in the existing sectors (Jackson, par. 3-4). However, it remains challenging for a business to develop high-performance levels parallel to the competitors in a competitive environment. As a result, corporations try to establish new strategies to develop new values in the new marketplaces, competing markets, and customers (Lohtander et al., 2035). Developing new market spaces demand a distinct strategic thinking pattern to discover unoccupied boundaries (Kim and Maurborgne 46). The Blue Ocean Strategy was introduced in 2005 by Kim and Maurborgue in their bestseller articles, and the book aims at meeting the objective. Firms that operate in Blue Ocean settings try to overcome competition by developing new value innovations for their consumers, which assist them in establishing an uncontested marketplace (Lohtander et al., 2035). The paper will focus on the blue ocean strategy and how Blueberry can implement it to gain a competitive edge in the market.

Read ocean vs. Blue Ocean Strategy.

According to Dehkordi et al., red oceans decribe the entire businesss that exist and recognized market area. Every limitation and boundary remain obvious and the play law utilizing the market remains clear. Moreover, companies aim at performing the best tp attain more returns for the cpmpany ecause the red ocean is crowded making ot challenging to gain profits In addition, red ocean strategy various parameters play a critical role in the business such as price and competition, cost, and competition should remain appropriate and suitable for extending the products and servcies of the firm (447) Moreover, dofferentiation remains a compoetitive advantage making most costs because organozations utilize similar practcie rules to compete (Kim and Maouborgne, par. 5) Gwal and Gwal observes that companeis operate in a competitive setting and have developed bew stratgeies to remain in the market However, the strategies fail making the firms adopt unethiocal busienss practcoes such as firing of the curent employees without any reason and recuriting comotitor workers at any cost As a result, the firm reduces its profitability and its standing (401-402).

In their study in 2004, Kim and Maurborgne analyzed 150 firms within 30 sectors over one hundred years and observed two types of markets including red and blue oceans However, organizations in the blue ocena markets attain success The red ocen markets represents the ancient setcors and recognized market spaces where the boundaries of the setor is accepted and defines, the competitive rules of the game recognized, outpoerform the competitors to attain a more significant share of the current demand at a saturated market space (Asa et al. 34-35) In contrast, in the blue oceans, the blue ocena rperesnts a completely undiscovered and new markets, co rivrarly, netw cutomer base, opportunities with new value additions and no rule of game It furtehr represents unexolored wide market space, and powerful, deep and vast market in connection to porofitable development and infinite However, the challenge include how to develop uincontested market spoace and transform the focus from rivrarly to development of innovatove value to ensure accessible new demands Moreover, most leaders remain farmiliar with red ocenas and feel comfortable with competition (Kabukin, 13).

Gwal and Gwal observe that some firms have decided to choose the Blue Ocean strategy to overcome the competition in their sectors. The firms target new markets to ensure presence and increase their profitability because of the lack of competition (402) Abdel-Dayem et al. (par. 2) state that fierce rivalry, changes in customer demands and lifestyle, internationalization, and advances have led firms to shift from saturated markets to unsaturated market space using the Blue Ocean innovation (Shafiq et al. 1383 ) Madsen & Slatten claim that the Blue Ocean Strategy entails a strategy concept introduce by Chan Kim and Mauborgne in the middle of 2000s The concept was portrayed as a radical change from the conventional paradigm and thinking in the strategic management field Since the emergence of Blue Ocean Strategy, it has attracted attention in the business globe (par. 1-2). Dehkordi et al. highlights that Blue Ocean represents a market without competition. Hence it has the potential for profitability and remains lucrative for businesses to enter. A competitive market does not exist, and establishing a blue ocean market is dynamic. An appropriate blue ocean market remains challenging to imitate, and value innovation and proposition include the strategy and action of the business. A powerful value innovation leads to less imitation and eliminates the imitators from the market (477-478).

Yeshitila notes that value innovation remains the cornerstone of the strategy because it develops value for the company and the consumers when opening uncontested and new market spaces. Value innovation happens when a business aligns innovation with cost position, price, and utility (par. 20). Blue Ocean’s strategy concentrates on value innovation, where value is developed at an affordable cost because its cluster of consumers comes from the existing segments. It further concentrates on differentiation because the seller aims at offering a different service or product in a way that the demand was there, but it was a latent demand. However, after delivering to the consumers, they accept the product or service (Hassan et al. 1488). Introducing a new product using the Ocean Blue strategy in an uncontested market will ensure the highest returns before competitors enter the market(Velic 2).

A firm decide to relocated to new markets where marginally competition exist or change the dynamics of the products and continue to compete in the Red Ocean Moreover, fims using blue ocean strategy desire to fulfill the needs of tehir customers through developing new values via configuring the strategies iof the company (Turki and Khemakhem1946) More so, the Blue Ocean can be established from the Red Oceabn through extending the existing boundaries of the sector In addition, a Blue Ocean can be developed from scratch to develop uncontested market which remains an opportunity to hgh profitable development for a buisness (Yunus and Sijabat, par. 3-4) Lohtander et al. posits that the principles of Blue Ocean strategy include one, recinstruting the market boundaries by extending the current amrket teriories with new innovation Two, fousing on the bigger picture entails disocvering the current amrket and Blue Oceans in the international amrkets Three, reaching beyond the current demand translates to developing new uncontested Blue Oceab values and markets Four, get the correct strategic sequence through dicovering the Blue Oceans and configuring the strategies of the company tpo correpond to it(par. 2035-2036) Five, overcoming the comaony;s haurdles using the stategies of the firm to guide all other levels of the company Six, building execution into strategy by developing operational strategeis and olans from analysing Blue Ocean (Unissa and Kumudha 975).

Blue Ocean’s strategy concentrates on rebuilding the market boundaries and new value and growth through mitigating the services of products’ weaknesses to develop new demand via value innovation. After implementing the Blue Ocean strategy, the business does not experience crowding (Lucidity, par. 2-4). Some of the significant reasons a form can create a Blue Ocean strategy entail supply exceeding demand in most sectors, internationalization in which internationally networked market spaces, with consumers more informed about the services and goods value pricing and proposition. As a result, it leads to fierce rivalry among suppliers, the disappearance of a niche market, and low-profit margins. Companies adopt the blue ocean because of regulations and norms, and commoditization of goods and services and brand become more similar to the selection depending on price (Yeshitila, par. 16-17).

Blue Ocean Frameworks

According to Gwal and Gwal, Kim and Maouborgne developed various analytical frameworks and tools which companies can use to develop new markets resulting in the blue ocean of market spaces without competition in an opportunity optimizing, a risk-reducing way that makes competition irrelevant (402-403) Yeshitila claims that benchmarking remains unwise while rivalry experiences shrinking demand and head on head rivalry where game rules could result in a win for some businesses and loose for others. The Blue Ocean strategy is a distinct approach in such a situation and has gained popularity and acceptance. Companies realize value innovation in their services and goods and delivery which must align with the customer value and take a cost advantage position through eradicating any features taken for granted and maintaining the standards of the features not prioritized by the customer to the expected standard (par. 15-16) Some of the frameworks and tools include Six Paths Framework, ERRC Grid, Four Acytions Framework, Strategy Canvas, Visualizing Strategy, and Value Innovation (Gwal and Gwal 403).

Strategy Canvas

Yeshitila states that the Strategy Canvas developed by Kim and Mauborgne focused on eradicating the value proposition elements taken for granted, minimize services and products of high standards than the sector standards, increase the elements that develop value for purchasers and sellers and develop the items that have never been developed in the sector and market space The strategy canvas remains an action framework and a diagnostic structure for constructing a compelling Blue Ocean Strategy (par. 15-17) The strategy capture the existing states of play available in the market place allowing the company to gain insight into where the competition currently invest, the the elements the sector currently competes in delivery, service and products and what consumer receive from the current competitive offerings on the market (Kim and Mouborgne, 54) Hong et al.(88) strategy canvas show the value curve or strategic profile f a firm against its rivals through plotting various elements that impact competition in the sector in a graphical chart.

Four Action Framework

The framework possesses a grid with four elements: Eliminate, Reduce, Raise, and Create. The elements assist in answering four questions concerning the factors taken for granted in the sector to be eliminated, the elements to get reduced below the standards of the industry, factors never provided by the sector should be created, and the elements which need to be raised above the standards of the sector (Kim and Mouborgne 20-22). The elimination elements allow a business to consider eradicating the factors that firms in the sector have been competing for. Moreover, the reduced elements allow a company to identify if the services and products are designed in pursuit to beat and match the competition. The raise factor permits a business to discover and eradicate the compromises the sector forces the consumers to make. In addition, the create factors permit the compoany to find new sources of value for purchasers, develop demand, and change the strategic pricing of the sector (Kim and Maouborgne 5).

Theory Applications

Burberry

Established by Thomas Burberry in 1856 in London, Burberry includes a luxury fashion brand with its headquarters in London. The firm makes luxury leather products, personal clothing, footwear, fragrance, beauty products, and accessories (Burberry). The business has developed from manufacturing waterproof fabrics to designing high fashion and luxurious cloth lines connected with the finest designs and craftsmanship with advanced technology (Burberry 16). In addition, the company is dominantly connected with the famous Burberry trench coat. Burberry concentrates on the upper-class members of society and designs, produces, and manufactures its products internationally.

Moreover, products meet the needs of all genders and ages, including men, women, and children. Burberry offers products of a high price range because it targets the upper-class population. Hence, low-income and middle-class earners may need help to afford the products (Shastri, 3-4). The personal luxury market was reduced in 2020 for the first time in the last ten years. The decline considerably affected the profits of the entire personal luxury products. Europe was the most affected by the COVID-19 crisis in connection to sales of luxury goods. However, the sectors expected double-digit growth in 2021 as online users increase (Blueberry 23).

The fashion industry in the UK

Moreover, the fashion industry in the UK remains competitive with the most recognized fashion designers and luxury brands operating in the country. They include Paul Smith, Mulberry, Mary Quant, Burberry, Victoria Beckham, Vivienne Westwood, Jonathan Saunders, Ozwald Boateng, Stella McCartney, Alexander McQueen, and Stephen Jones, among others (Fashion United, par. 2-3). After the pandemic, the number of online buyers increased, and the UK and fashion constitute 31 percent of the eCommerce market in the UK. By 2020, online retail sales for footwear, clothing, and textile increased by 31 percent. More so, specialized demands, including environmentally friendly and ethical clothing, remain in demand (Fashion United, par. 3). The increased competition has developed a red ocean condition in the market, and the companies must overcome the issue with the Blue Ocean strategy (Subatinus and Utami 460). The blue ocean strategy provides leaders opportunities to stay competitive through developing new opportunities for development (Mwende1)

Blueberry Trench coats

The trench coat has remained Burberry’s star since Mr. Thomas Burberry got a contract to supply them to the British army. Afterward, established actresses and actors wore trench coats in the movies. It has more than one hundred years of history and remains an international icon. The trench coat’s fabric speaks of Burberry’s technical innovation heritage, and its designs show timelessness. Moreover, its seasonal adaptation portrays the company’s enduring relevance. Trench coat remains one of Burberry’s brands, and the company continues reinventing them with new iterations. Every trench coat manufactured by Burberry in Castleford is rich in history. Therefore, trench coats have an enormous market share in their clothing segment. Trench coats are associated and established with Burberry. In 2016, the firm decided to revive and redesign the trench coats to meet personal taste and developing trends (Burberry 37-38).

Burberry recognized that trench coats needed to align with consumers’ fashion trends and tastes. As a result, Burberry decided to provide consumers with trench coat repair and reproofing services to demonstrate their attachment to customers and their sustainability commitment. Moreover, they allow the customers to integrate their fair in style their coats while the Trench Bespoke performs the personalization. In their London flagship store, the firm used innovative customization tools to ensure that their consumers adapt their iconic masterpiece with a choice of details and motifs, including vintage Burberry Check lining and monograms (Burberry, 38). The “Burberry Bespoke” permits visitors to customize their trench coats from sleeves color to buttons. Personalization assists the firm in fulfilling the desire of young shoppers to differentiate themselves from others with their taste. The firm started the “Art of the Trench Coat” digital campaign that permitted fans to take a photo with their iconic trench coat and share the picture on the Burberry microsite for visitors to like and comment. As a result, the strategy addressed the inner needs of the younger luxury customers to show their style. The firm managed to create awareness of its brand and maintain the product’s prestige (Inohara par. 1-4). Moreover, the flagship store consists of the most advanced and recent technologies arousing enthusiasm among Burberry fans (Nguyen and Bug, 1).

Blue Ocean strategy on trench coats and four action frameworks

From the red ocean perspective, Burberry realized the stiff competition in the fashion sector and wanted to maintain its iconic trench coat’s competitive edge and market. Fashion businesses have acquired an online presence to overcome the competition. As a result, the firm used in ash reinvented in trench coat offering and cutting-edge technology and enhanced customer experience. Burberry used the four-action framework to overcome the competition and maintain the brand, including among the millennial (Inohara par. 2).

Upon observing the slow movement of the trench coats and the lack of brand awareness among the youth, the company decided to eliminate the introduction of another product line to replace trench coats. More so, it decided to eliminate the lack of brand awareness among young shoppers and the lack of customer attachment. More so, the company raised trench coat sales among the youth, especially after the brand awareness and enhanced online presence by creating Art of Trench Coat for users to post photos while wearing their trench coats and Burberry Bespoke to customize trench coats. As a result, the company aimed to reduce the lack of differentiation because they can customize the trench coats depending on the individual taste of the customers (Inohara, 2-3). More so, the increased awareness of the trench coats among the targeted population reduced the product’s slow movement. In addition, the business created an online presence by investing in advanced technology, maintained the presence of the iconic brand, and increased the customer base among the young market segment. More so, it increased customer attachment by repairing and reproofing the trench coats for the customers, which further increased their sustainability (Burberry 38).

Table 1: Four action framework on the trench coat

Future developments

International sales of second-hand luxury goods and services continue to increase rapidly (Haraldsson and Peric 2). Customer sensitivity towards recycling and waste has increased primarily due to the sustainability pressure that demands careful utilization of resources demanding strategic considerations such as used products in the market. The second-hand luxury market influence luxury brands because of the extended life cycle of the products, even among the people who may not have purchased products. Therefore, luxury goods firms need to realign their strategy to increase their competitive advantage (Stolz 1). Davis (par. 1) states that there exist various ways to have a greener fashion, including reselling unwanted fashionable and luxury clothing and items and investing in new ones for the wardrobe. Since Burberry is a luxury brand, they can introduce a luxury resale product line where they can buy and sell second-hand trench coats and other designer clothing to target low-income and middle-income market segments using high-end technology to determine the quality and condition of the products. More so, it would increase their sustainability and ensure a greener option to fashion. Customers would replace their wardrobes with new fashion and resell the older clothing as long as they are in perfect condition and fashionable. Subsequently, other consumers would purchase the fashionable items at a more affordable price either online or in a physical store. More so, they could redesign the trench coats depending on the preference of the consumers. The strategy will target consumers who desire their brand but cannot afford to buy because of the high prices when new. The strategy would assist them in competing with firms that offer lower-priced clothing and ensure they operate in a more sustainable way.

Using the four-action framework, Burberry would eliminate high-priced clothing for low and middle-income earners and non-green method of replacing designer clothing and items. As a result, it would increase their customer base because they attract more customers from every status and class. Moreover, they would reduce wastage because consumers can replace their wardrobes by reselling items instead of throwing them away. Burberry would find a greener option to conduct its business and create a new market segment. As a result, it will attain a competitive edge in the fashion sector.

Table 2: For action framework

In conclusion, the paper focused on the blue ocean strategy and how Blueberry can implement it to gain a competitive edge in the market. The Blue Ocean Strategy was introduced in 2005 by Kim and Mauborgue in their bestseller articles, and the book aims at meeting the objective. The firms that operate in blue ocean settings try to overcome the competition by developing new vale innovations for their consumers, which assist them in establishing an uncontested marketplace. Burberry recognized that trench coats needed to align with the fashion trends and tastes of consumers and used a blue ocean strategy to overcome competition in the sector. As a result, Burberry decided to provide consumers with trench coat repair and reproofing services to demonstrate their attachment to customers and demonstrate their sustainability commitment. Moreover, they allow the customers to integrate their fair in how to style their coats while the Trench Bespoke performs the personalization. Moreover, the company can use the blue ocean strategy to provide greener fashion.

Works Cited

Abdel-Dayem, H., Ragheb, M., Abdel-Azzim, M., Hamida, F. and Abdel-Bary, A. “The Effect of Blue Ocean on Business Entrepreneurship through Niche Marketing as a Mediating Variable (Applied Study on Zalat for Leather Products Co.).” Open Access Library Journal, 8(10) 2021. 25 March 2023 <https://www.scirp.org/journal/paperinformation.aspx?paperid=112724>.

Asa, A. O., Gebhardt, L. and Kapolo, F “Reviewing Blue Ocean Strategy and Opportunities for Upcoming Retail Entrepreneurs in Nimiba.” Journal of Entrepreneurship and Business Development, 1(1):333–40. 2021. 25 March 2023 <https://researchleap.com/reviewing-blue-ocean-strategy-and-opportunities-for-upcoming-retail-entrepreneurs-in-namibia/>.

Burberry “Burberry.” 2023. 25 March 2023 <https://uk.burberry.com/>.

Burberry “Burberry Strategic Report 2020/21 “ 2022. 25 March 2023 <https://www.burberryplc.com/content/dam/burberry/corporate/oar/2021/pdf/Burberry_2020-21_Strategic_report.pdf>.

Davis, J “The Best Designer Resale Sites” 2023. 25 March 2023 <https://www.harpersbazaar.com/uk/fashion/what-to-wear/news/a34512/the-best-designer-resale-sites/>.

Dehkordi, G, Rezvani, S. and Behravan, N. “Blue Ocean Strategy: A Study Over a Strategy which Helps the Firm to Survive from Competitive Environment.” International Journal of Academic Research in Business and Social science, 2(6) 2012. 25 March 2023 <https://www.academia.edu/1343294/Blue_Ocean_Strategy_A_Study_Over_A_Strategy_Which_Help_The_Firm_To_Survive_From_Competitive_Environment>.

Fashion United “UK Fashion Industry Statistics 2023.” 25 March 2023 <https://fashionunited.uk/uk-fashion-industry-statistics>.

Gwal, A and Gwal, R “Blue Ocean Strategy-Big Vision Small Steps.” ICTACT Journal on Management Studies, 02(04) 2016. 25 March 2023 <https://www.researchgate.net/publication/311821995_BLUE_OCEAN_STRATEGY_-BIG_VISION_SMALL_STEPS>.

Haraldsson, F and Peric, S “Drivers and Motivation for Second-hand Shopping: A Study of the Second Consumers.” Bachelor Thesis, 15 Credits 2017. 25 March 2023 <http://www.diva-portal.org/smash/get/diva2:1138322/FULLTEXT01.pdf>.

Hassan, N, Salman, A and Hawas, A “The Blue Ocean Strategy and Its Role in Achieving Competitive Advantage.” Journal of Positive School Psychology, 6(6): 1488–1503. 2022. 25 March 2023 <https://journalppw.com/index.php/jpsp/article/view/7348/4803>.

Hong, A, Chai, D and Ismail, W. “Blue Ocean Strategy: A Preliminary Literature Review and Research Questions Arising.” Australian Journal of Basic and Applied Sciences, 5(7): 86–91. 2011. 25 March 2023 <http://www.ajbasweb.com/old/ajbas/2011/July-2011/86-91.pdf>.

Inohara. “Burberry: Digitizing the Trench .” 2016. 25 March 2023 <https://d3.harvard.edu/platform-rctom/submission/burberry-digitizing-the-trench/>.

Jackson, T “The Blue Ocean Strategy Summary (with 4 Examples) 2023.” 25 March 2023 <https://www.clearpointstrategy.com/blog/blue-ocean-strategy>.

Kabukin, D “Reviewing the Blue Ocean Strategy: Is the Blue Ocean Strategy Valid and Reliable 2015.” 25 March 2023 <https://www.academia.edu/30544690/Reviewing_the_Blue_Ocean_Strategy_Is_the_Blue_Ocean_Strategy_valid_and_reliable>.

Kim, C and Mauborgne, R “What is Blue Oceans Strategy?” 2023. 25 March 2023 <https://www.blueoceanstrategy.com/what-is-blue-ocean-strategy/>.

Kim, C and Mauborgne, R. “Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant.” 2014. 25 March 2023 < https://helenescott.com/wp-content/uploads/2014/01/BookReportBlueOceanStrategy.pdf>.

Kim, C and Mauborgne, R. “Blue Ocean Strategy.” Havard Business Review (2004). 25 March 2023 <https://hbr.org/2004/10/blue-ocean-strategy>.

Kim, C and Mauborgne, R “The Iconic Articles by the Bestselling Authors of Blue Ocean.” Havard Business School Publishing Corporation 2017. 25 March 2023 <http://elibrary.gci.edu.np:8080/bitstream/123456789/3357/1/Bm.Bt-111%5BW._Chan_Kim%3B_Ren_e_A._Mauborgne%5D_The_Blue_Ocean_S.pdf>.

Kim, C and Mauborgne, R. “Blue Ocean Strategy.” Harvard Business School Publishing Corporation (2005). 25 March 2023.

Lohtander, M., Aholainen, A., Volotinen, J., Peltokoski, M and Ravata, J “Location Independent Manufacturing-Case Based Blue Ocean Strategy.” Procedia Manufacturing, 11 2017: 2034-2041. 2017. 25 March 2023 <https://reader.elsevier.com/reader/sd/pii/S2351978917305632?token=5D516A117FA07A7B34D2CB82993001953183614C9FD3271C37742BCDCC13455E7E17E7939658F3CC5BE66796F2A20761&originRegion=eu-west-1&originCreation=20230325042417>.

Lucidity “Blue Ocean strategy.” 2023. 25 March 2023 <https://getlucidity.com/strategy-resources/blue-ocean-strategy-a-summary/>.

Madsen, D and Slatten, K “Examining the Emergence and Evolution of Blue Ocean Strategy Through the Lens of Management Fashion Theory.” Soc Scie. 8(1): 28. 2019. 25 March 2023 <https://www.mdpi.com/2076-0760/8/1/28>.

Mwende, M “Effects of Blue Ocean Strategies on Competitive Advantage of Microfinance Institutions in Kenya ” 2016. 25 March 2023 <http://erepository.uonbi.ac.ke/bitstream/handle/11295/98901/Mwende%20Jennifer_Effect%20of%20Blue%20Ocean%20Strategies%20on%20Competitive%20Ad>.

Nguyen, K and Bug, P “Burberry: A Model for Successful Technology Integration.” Reutlingen University. 2016. 25 March 2023 <https://www.researchgate.net/publication/325100401_Burberry_a_model_for_successful_technology_integration>.

Shafiq, M., Tasmin, R., Qureshi, M and Takala, J.. A “New Framework of Blue Ocean Strategy forInnovation Performance In Manufacturing Sector.”  International Journal of Engineering and Advanced Technology (IJEAT), 8(5C) 2019. 25 March 2023 <https://www.ijeat.org/wp-content/uploads/papers/v8i5C/E11970585C19.pdf>.

Shastri, A. “Comprehensive SWOT Analysis of Burberry/IIDE .” 2022. 25 March 2023 <https://iide.co/case-studies/swot-analysis-of-burberry/>.

Stolz, K “Why Do(n’t) We Buy Second-Hand Luxury Products?” Sustainability, 2022, 14, 8656. 2022. 25 May 2023 <https://doi.org/10.3390/su14148656 >.

Subatinus, S and Utami, C. “Innovative Strategy Analysis Through a Blue Ocean Strategy for Wear It.” 2021. 2021. 25 March 2023 <https://www.academia.edu/62728570/Innovation_Strategy_Analysis_through_a_Blue_Ocean_Strategy_for_Wear_It>.

Turki, T and Khemakhem, R “The Implications of the Blue Ocean Strategy on Marketing Performance: An Analytical Study of the Opinions of a Sample of Workers in Asiacell Telecom in Iraq.” Journal of Positive School Psychology, 6(5):1945-1957. 2022. 25 March 2023 <https://journalppw.com/index.php/jpsp/article/view/7348/4803>.

Unissa, B and Kumudha, A. “Blue Ocean Marketing-A Promising Strategy.” International Journal for Innovative Research, 7(1) 2013. 25 March 2023 <https://www.researchgate.net/publication/331085095_Blue_Ocean_Marketing-A_Promising_Strategy>.

Velic, A “Transforming the Nature and Scope of Strategy Formulation: A Longitudinal Study Measuring the Effects Industry Clockspeed Benchmarking Has on Blue Ocean Strategy.” Capella University 2017. 25 March 2023.

Yeshitila, D., Kitaw, D., Jilcha, K., and Muchie, M “Situational and Mixed Business Strategy Analysis for Market Competitiveness: An Exploration in Context of Africa.” International Journal of Global Business and Competitiveness, 15(2), 106–120. 2020. 25 March 2023 <https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7560787/>.

Yunus, M and Sijabat, F “A Review on Blue Ocean Strategy Effect on Competitive Advantage and Firm Performance.” Academy of Strategic Management Journal, 20(1) 2021. 25 March 2023 <https://www.abacademies.org/articles/a-review-on-blue-ocean-strategy-effect-on-competitive-advantage-and-firm-performance-10115.html>.