ENT 526 Lecture Notes - Lecture 11: Cirque Du Soleil, Guy Laliberté, Blue Ocean Strategy

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Highly competitive market: lower prices, likely that barriers to entry are difficult, known, focus on existing customers, fighting to divide existing demand. Pricing is high, pay premium for new thing that no one else has thought of. People unlikely to take chance on new product. Location, where to get it is selective: reconstructing markets for differentiation. Xbox, playstation a(cid:374)d the(cid:374) nintendo wii comes in with a blue ocean: however, was not sustainable, change is very rapid in technology industry, have to be innovative to keep up. The aim of bos is not to out-perform the competition in the existing industry, but to create new market space or a blue ocean, thereby making the competition irrelevant. Eliminate & reduce costs + raise & create value = create value innovation. Creates a dreamlike alternative circus to provoke, invoke, evoke emotions (ethereal, celestial, heavenly) Find the balance between business and creativity through business plans.

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