Best Buy - Blue Ocean Strategy Proposal
Iíve chosen Best Buy
to form a Blue Ocean strategy. The idea is to offer music lessons and basic computer courses to accompany the products they provide for sell.
The first consideration is the buyer utility. I need to examine if this idea is something that will attract potential customers. If so, then move to the next step.
Next, Iíll consider the price. Everyone knows that customers love low prices. So it has to be set low enough to interest them in bringing in business. The cost should be set to a position where its low enough to draw in my target market but high enough for me to still earn and maintain a decent profit.
Lastly, I want to ensure that I weed out all of my obstacles and find a way to overcome them in order to adopt the business into the market. Resistance includes refusing noncustomers or other business that may not agree with your company. Therefore, strategizing is important so that you donít have run-ins with other agencies.