MKT 300 Lecture Notes - Lecture 5: Blue Ocean Strategy, Apple Watch, Coca-Cola Cherry

• School: Ryerson University
• Department: Marketing
• Course: MKT 300
• Professor: Armand Gervais

Document Summary

Alig(cid:374) the (cid:449)hole syste(cid:373) of a fir(cid:373)"s a(cid:272)ti(cid:448)ities i(cid:374) pursuit of differe(cid:374)tiatio(cid:374) On brand z, the top 10 brands had similar characteristics: all innovators in their industries. Why is pursui(cid:374)g a blue o(cid:272)ea(cid:374) strategy so ad(cid:448)a(cid:374)tageous? (you"re the first to the marketplace: do(cid:374)"t (cid:374)eed to (cid:449)orry a(cid:271)out (cid:449)orryi(cid:374)g a(cid:271)out (cid:272)o(cid:373)petitio(cid:374) (cid:271)ut i(cid:374)stead you can focus on your customers, you make more money. The chasm- 85% of products do not pass this point and end up failing to get to mass market. Innovators- first to try it, lots of resources, small percentage of the market. Early adopters- still willing to take some risks but are selective when it comes to adopting a product, will try products if there is a reason to. The apple watch does not pass the chasm (in other words, why does it not fit with early majority?)