MAN 320F Exam 2 (Accurate 100%)

What is the blue ocean strategy correct answers go where the profits and growth are and where the competition isn't Technology and Globation correct answers -info on products and prices will be immediately available -meaning accelerated commoditization (when brands become more similar, people buy on price) -Therefore, niche markets and monopolies quickly dissapear Products and services introduced recently correct answers -Iphone in 2007 (1 billion units have been sold) -Ipad in 2008 (450 million units) -Instagram in 2010 (850 million units) Things about the IPod that are important correct answers -a blue ocean strategy -looked beyond the "tradition" customer (looked at non-customers who refused the IPod but had other means of listening to digital music, also looked at non-customers who had never considered an IPod or other forms of digital music) What does blue ocean mean? correct answers -create new group of consumers, don't take away from a swindling group -create an industry not in existence today -most blue oceans are created from within a red ocean by expanding existing industry boundaries what are the two main reasons why a venture capitalist will NOT invest in a deal? correct answers 1) management team (they do not believe in them) 2) the do not see a potential return on investment What are two successful Austin companies correct answers Whole Foods and Dell Computer What are the six key success factors? correct answers market opportunity X 6 Red Ocean Strategy vs. Blue Ocean Strategy correct answers red ocean- compete in existing market space, beat the competition, exploit existing demand, make the value/cost trade off, align the whole system of a firm's activities with its strategic choice of differentiation or low cost blue ocean- create uncontested market space, make the competition irrelevant, create and capture new demand, break the value/cost trade off, align the whole system of a firm's activities in pursuit of differentiation and low cost Some questions to raise with Cirque du Solei correct answers -is it a real circus after all they have eliminated? -is it theatre? If so then what genre? -is is a little of all of the genres and non of any of the genres all at once? -what industry does it fall into?