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The blue ocean strategy of Yellow Tail in US market
https://firmstrategy.net/the-blue-ocean-strategy-of-yellow-tail-in-us-market/
The following example demonstrates the success of applying the blue ocean strategy of Casella when launching Yellow Tail Wines in US market in 2000 (Kim and Mauborgne, 2005).
By studying the market in blue ocean approach, Casella chose the first and fifth way to reconstruct market boundaries.
+ Reconstruct market boundaries: The company has “looked across alternative industries” (way 1) and found its own blue ocean. The company has found the basic factor that makes customers choose alternative drinks rather than wine, thereby concocting a different product from others in the market: wine with cocktail flavor. Also, the company cleverly applies to “look across functional or emotional appeal to buyers” (way 5). Instead of adding “functionality” to products, they have blown “soul” into the product to attract consumers. This is clearly shown in the advertising logo, slogan, and simple labels that do not print the blending terms but a picture of a prominent yellow kangaroo on a black background that impresses Australia. At that time, Yellow Tail was the first wine product to put an image of an animal on the label.
+ Reach beyond existing demand: Target customers of Yellow Tail are completely different from other wine companies. They are not only those who consume wine (the first class) but also the second class (those who drink beer and cocktail – soft drink) and the third class (those who do not drink alcoholic beverages). They are those who use alternative alcoholic beverages, such as: beer, ready-to-drink cocktails, and those who have not previously consumed alcoholic beverages. Because Yellow Tail wine has a light flavor and easy to drink like ready-made cocktails and beer, but has a wine and fruity taste, it is easy to attract beer and cocktail lovers (the second class). This product even attracts people who have not used alcoholic beverages (the third class) because of the unique flavor.
Видео The blue ocean strategy of Yellow Tail in US market канала Firm Strategy & Management
The following example demonstrates the success of applying the blue ocean strategy of Casella when launching Yellow Tail Wines in US market in 2000 (Kim and Mauborgne, 2005).
By studying the market in blue ocean approach, Casella chose the first and fifth way to reconstruct market boundaries.
+ Reconstruct market boundaries: The company has “looked across alternative industries” (way 1) and found its own blue ocean. The company has found the basic factor that makes customers choose alternative drinks rather than wine, thereby concocting a different product from others in the market: wine with cocktail flavor. Also, the company cleverly applies to “look across functional or emotional appeal to buyers” (way 5). Instead of adding “functionality” to products, they have blown “soul” into the product to attract consumers. This is clearly shown in the advertising logo, slogan, and simple labels that do not print the blending terms but a picture of a prominent yellow kangaroo on a black background that impresses Australia. At that time, Yellow Tail was the first wine product to put an image of an animal on the label.
+ Reach beyond existing demand: Target customers of Yellow Tail are completely different from other wine companies. They are not only those who consume wine (the first class) but also the second class (those who drink beer and cocktail – soft drink) and the third class (those who do not drink alcoholic beverages). They are those who use alternative alcoholic beverages, such as: beer, ready-to-drink cocktails, and those who have not previously consumed alcoholic beverages. Because Yellow Tail wine has a light flavor and easy to drink like ready-made cocktails and beer, but has a wine and fruity taste, it is easy to attract beer and cocktail lovers (the second class). This product even attracts people who have not used alcoholic beverages (the third class) because of the unique flavor.
Видео The blue ocean strategy of Yellow Tail in US market канала Firm Strategy & Management
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3 марта 2021 г. 5:08:47
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