Purpose:
According to (Ramirez, 1999), need for value has been identified since the Ancient Greek period. Prahalad & Ramaswamy, (2000) opine that to create value for addressing the customer's dynamic needs, organisations should collaborate with their customers. Value creation should mainly emphasize on creating fresh solutions according to (Kim & Mauborgne, 2005). In their opinion, organisations should adapt to the logic of value creation in order to achieve differentiation and a SCA (Sustainable Competitive Advantage). The Blue Ocean Strategy (BOS) framework promoted by them challenges and displays the ways in which an organisation can achieve the conventional trade-off amongst differentiation and low-cost.
Globally, the smartphone market is blooming rapidly and in 2014, it is likely to touch $150.3 billion. Growing at a CAGR of 18.6% during 2009 - 2014, the smartphones market in Asia-Pacific is anticipated to touch $45.2 billion in 2014. This progress has resulted in intensified competition generating a need for organizations to distinguish themselves and create value for customers. The purpose of this paper, hence, is using Blue Ocean Strategy Framework for the analysis of the ways in which value innovation has been exercised by various players of the smartphone market to create a competitive advantage (CA) for themselves and be the front-runner.
Research Methodology and Approach
A case study approach has been used wherein the tactics of the prime competitors in the smartphone market as well as the factors directing them to their success and failures will be analysed. The Blue ocean framework and the strategy canvas will be used as a conceptual framework for the study. Analysis will be done using secondary as well as primary data.
Practical Implications
To come up with a conceptual model that will identify the competing factors from the strategy canvas to fabricate a captivating blue ocean strategy for the smartphone players.