Future Practical Applications

--- Finding New Bule Ocean For The Future ---

Marvel’s current blue ocean is about ten years old and continues to endure, but eventually, all blue oceans turn red if companies either start to compromise the strategy to their success or when competitors aggressively imitate and companies fail to value innovate again.

From theory to real-world practice, how can firms develop a blue ocean strategy in different marketing environments in order to make sure they make profits and keep making profits?

OTHER OPPORTUNITIES? OTHER COMPANIES?. . .

Academic Methodology

Quantitative Research Method

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Survey ---

Survey: To develop a detailed investigation

Benefits of Surveys

• Information is needed quickly

• The budget is limited

• Collect data on a wide range of topics

• Questions can be precisely designed and stated

For this project, I will design a survey to assess people’s willingnessto spend their money on their entertainment items (in this case the item would be a novel), their expectations of extension products of the novel (in this case the extension products wouldbe a sequel, a movie adaptionor relativemerchandise), their excitement about the extension products, their awareness of IP, and the estimated expense they spend for their general entertainment.

In this survey, respondents will also be asked to tell the name of the novel and how likely they would recommend the novel to their friends. Scoring will be ranked on several different dimensions. Surveys can be administeredonline, in person, over the phone, or by mail. I will use the surveys to compile data on the performance, reliability,satisfaction, and profitability associated with the novel and its category extensions possibility.

The full survey consists of a total of 13 questions:

Q1: Gender (male/female/othergenders)?

Q2: Age (under 18/18-24/25-30/31-40/41-49/50 & over)?

Q3: What is the name of the novel?

Q4: Would you read the sequel of the novel? (Yes/ Not Sure/No)

Q5: On a scale of 1-10, what is your excitement level for the sequel? (1=low, 10=high)

Q6: Would you watch the film adaption of the novel? (Yes/ Not Sure/ No)

Q7: On a scale of 1-10, what is your excitement level for the film adaption? (1=low, 10=high)

Q8: Would you buy the relative merchandiseof the novel?(Yes/ Not Sure/No)

Q9: On a scale of 1-10, what is your excitement level for the merchandise?(1=low, 10=high)

Q10: Do you know what intellectualproperty is? (Yes/ Not Sure/ No)

Q11: Can you use one sentenceto briefly explain intellectual property?

Q12: What is the estimated expense you spend for your general entertainmentmonthly?

Q13: Would you recommend this novel to your friends or family? (Yes/ Not Sure /No)

References

Agnihotri, A. (2016). Extending boundaries of Blue Ocean Strategy.JournalofStrategicMarketing,24(6), 519–528. https://doi.org/10.1080/0965254X.2015.1069882

Bochańczyk-Kupka, D. (2019). Intellectual property as intangible good. EkonomiaIPrawo.EconomicsandLaw,18(2), 123–131. https://doi.org/10.12775/EiP.2019.010

Bowrey, K. (2011). The New Intellectual Property: Celebrity, Fans and the Properties of the Entertainment Franchise. GriffithLawReview , 20(1), 188–220. https://doi.org/10.1080/10383441.2011.10854695

Buoye, A., De Keyser, A., Gong, Z., and Lao, N. (2020). Intellectual property extensions in entertainment services: Marvel and DC comics.JournalofServices Marketing , 34(2), 239–251. https://doi.org/10.1108/JSM-06-2019-0224

Dolan, R.J. and John, L.K. (2015). Marketing Reading: Marketing Intelligence. HarvardBusinessPublishingEducation , 8191-PDF-ENG. https://hbsp.harvard.edu/product/8191-PDF-ENG?

Harrigan, K.R., Spaeth, C. (2022). Disruptive forces in the US media industry.ColumbiaCaseWorks. Retrieved February 6, 2023, from https://www8.gsb.columbia.edu/caseworks/node/1030

Kim, W.C., Mauborgne, R., and Olenick, M. (2016). The Marvel Way: Restoring a Blue Ocean. INSEAD , IN1182-PDF-ENG. https://hbsp.harvard.edu/product/IN1182-PDF-ENG?

Madsen, D., & Slåtten, K. (2019). Examining the Emergence and Evolution of Blue Ocean Strategy through the Lens of Management Fashion Theory. Social Sciences(Basel),8(1), 28. https://doi.org/10.3390/socsci8010028

Red Ocean Strategy vs Blue Ocean Strategy. Blue Ocean Strategy. (2022). Retrieved January 10, 2023, from https://www.blueoceanstrategy.com/tools/red-ocean-vsblue-ocean-strategy/

Striphas, T. (2009). Harry Potter and the Simulacrum: Contested Copies in an Age of Intellectual Property. CriticalStudiesinMediaCommunication,26(4), 295–311. https://doi.org/10.1080/15295030903177516