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QUESTION
Marvel's Blue Ocean Strategy
Now Marvel is part of Disney, is it still running a blue ocean strategy? Give examples to support your answer
Please understand the concept well. For this question, just working on "raise" part.
Do Not need an introduction of the company
Attached is an example of IKEA's blur ocean strategy
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| Subject |
Business |
Pages |
2 |
Style |
APA |
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Answer
Marvel’s Blue Ocean Strategy
Blue ocean strategy has been an effective tool at Marvel in producing high-quality products that are desirable in the consumer market. Despite using more funds to cater to the production team, Marvel has realized significant returns propped by innovations incorporated in every production set. Similarly, the strategy has enabled Marvel to distinguish itself from other competitors by going for good actors, directors, and writers. This team has been proficient enough to realize the importance of being unique by creating distinct costumes such as Ant-Man, Hulk, Iron Man, etc. Marvel has franchised these costumes in toys that have been widely purchased due to a more expansive consumer base to capture a broader market. Ultimately, these costumes have helped to raise awareness about different cultures existing in society. For instance, the movie Black Panther has effectively depicted the significance of Black Culture in the modern world. As a result, Marvel has become more consumer-engaging by improving the relationship between the consumers as well as the company
According to Marvel's management, delivering to consumers a new product or service in the market is not an easy task since one is unsure how the consumer will perceive the product; therefore, the need for accurate strategies to help study the market scale their preferences. The use of creative and attractive designs and displays helps create a comfy and accessible atmosphere for the consumers. The use of artistic furniture enables consumers to relate to special occurrences in their lives hence be attached to the company. For example, a picture of Captain America on the wall refers to victory to consumers.
The sale of ancillary products as a business strategy has also been important to Marvel since it acts as an incentive to encourage the consumers to buy the main product. The add-on product can be an Avenger headgear that attracts the consumer. Also, marvel opts for a standard office layout to enable consumers to pinpoint the company at any given time.
In conclusion, Marvel still uses the blue ocean strategy since it is more consumer-engaging and improves the relationship between the consumers and the company. Continuous improvement in creative designs, an offer of bonus products, and the uniqueness of the office environment ensure its deep penetration.
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