Issues in a down economy: blue oceans and new product development

Issues in a down economy: blue oceans and new product development Purpose – The purpose of this paper is to describe a conceptual strategy approach that can be applied to product development.Design/methodology/approach – The case describes an approach to avoid dangerous competition and find new uncluttered market space. The methodology is illustrated by a new start up.Findings – The paper provides an application of the blue ocean strategy approach to developing new products. Using the approach, companies can restructure their product and service offerings to serve new customers and escape from their industry competitors. Their results offer implications for new product development and management teams as well as senior management.Research limitations/implications – As in all case studies, the specific conditions found in one organization may not be found more generally in others. Readers are cautioned that the conclusions drawn in the case may have limited applicability.Practical implications – The case depicts the process that firm can use to innovate.Originality/value – The case describes how a competitive strategy, focusing on customers can transform a company and its products. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Product & Brand Management Emerald Publishing

Issues in a down economy: blue oceans and new product development

Journal of Product & Brand Management, Volume 18 (4): 5 – Jul 17, 2009

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
1061-0421
DOI
10.1108/10610420910972819
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to describe a conceptual strategy approach that can be applied to product development.Design/methodology/approach – The case describes an approach to avoid dangerous competition and find new uncluttered market space. The methodology is illustrated by a new start up.Findings – The paper provides an application of the blue ocean strategy approach to developing new products. Using the approach, companies can restructure their product and service offerings to serve new customers and escape from their industry competitors. Their results offer implications for new product development and management teams as well as senior management.Research limitations/implications – As in all case studies, the specific conditions found in one organization may not be found more generally in others. Readers are cautioned that the conclusions drawn in the case may have limited applicability.Practical implications – The case depicts the process that firm can use to innovate.Originality/value – The case describes how a competitive strategy, focusing on customers can transform a company and its products.

Journal

Journal of Product & Brand ManagementEmerald Publishing

Published: Jul 17, 2009

Keywords: Economic depression; Product development; Competitive strategy; Customer satisfaction; Customer retention

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