My assignment for school was to post my blue ocean strategy for critique on a forum. The strategy I chose for the music industry may finally enable it to enter a blue ocean market which they are effectively feeding. My Strategy incorporates a way to attract the 3 tiers of non consumers in the industry. The first tier is the occasional buyers. Those who only purchase music when a hit songs come out, and usually purchase just the one song. I believe that this group can be obtained by implementing a price reduction in the product. Currently itunes has raised it's prices from 99 cent to $1.25, which is doing the deterring this consumer group.Second tier is made up of illegal music pirates, which make up for a considerable portion of the market. Cracking down and issuing heavy fines would deter this group from making illegal purchases. The third tier of non consumers are made up of foreign music lovers. We live in the most diverse country in the world so why wouldn't the music industry diversify it's product attract these non consumers? A major adjustment to the sequencing needs to be made to implement this blue ocean strategy. Mainly in distribution. Should the industry create it's out distribution program/online site, it would control the market. A digital medium clears all the six utility levers, environmental friendliness, fun and image, risk, convenience simplicity, and consumer productivity.
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