Issues in a Down Economy: Blue Oceans and New Product Development
Journal of Product & Brand ManagementTheme: Case study of an ex-ante application of blue ocean strategy to new product development as illustrated by the start-up Clothing Vault.
Summary: This paper provides an ex-ante application of the blue ocean strategy approach to developing new products. The authors discuss the case of Clothing Vault, a start-up that implemented blue ocean strategy for developing its new offering focused on fashion proclivities of teenage girls. The authors suggest that applying blue ocean strategy to product development presents an opportunity for a paradigm shift, noting that while implementing a blue ocean strategy is not easy, the potential learnings from the process can transform the competitive playing field to avoid hazardous competition from incumbents in the industry. However, success requires a mindset that is adaptable and tolerant of change – one not constrained by the past performance or ‘tried and true’ methods. It also requires new analytical tools, like the strategy canvas, to guide selection of product attributes. Finally it requires a great deal of creativity.
Reference: Pitta, Dennis. "Issues in a Down Economy: Blue Oceans and New Product Development.” Journal of Product & Brand Management 18 4 (2009): 292-296.