Describe the Product by Cirque du Soleil Referred to as Blueocean (Essay Sample)

Cirque du Soleil
Name
Institution
Cirque du Soleil
Product and strategy
With its new product, by the name Blue Ocean, Cirque du Soleil took the entire world by a storm and this is because it created a vast ocean of space in the market. This particular strategic move challenged the ordinary conventions of the circus industry (Porto, 2006). With this new product, it stands to be acknowledged that Cirque du Soleil located In Quebec has its products have been watched by over 149 million viewers in over 290 cities across the globe (Hurley, & Harvie, 1999). 25 years have now passed since Cirque du Soleil was started and to date, it has assumed up a very large portion of revenue.
This revenue is too large that it would take former global circus champions B&B and Ringling Bros. to amerce together given the 25 years. So, what has contributed to the rapid growth of this company? The answer to this question is the strategy employed. It is important to note that Cirque du Soleil did not adopt the traditional concepts of strategic analysis that encouraged the limited potential growth of companies. One of the key strategic moves put down was Cirque du Soleil being achieved when the industry was still very strong.
That is, supplier power, as well as buyer power, in the market was still very strong. Supplier power refers to the supply of performers whereas the buyer power refers to the people being entertained or pay to attend the circus. Another compelling strategic move by Cirque du Soleil is that it did not want to base its success on taking consumers from the circus industry that had already started showing signs of dwindling, note, that this was mainly focused on children, instead, Cirque du Soleil created a marketplace that is uncontested, hence, making the competition it faced from other alternative forms of entertainment irrelevant. This marketplace appealed to a large group of clients ranging from adults, children, and even cooperate clients (Chrislip, & Larson, 1994).
Structuring and supporting cast to deliver superior performance.
It is important to note that Cirque du Soleil is year in year out spending a lot of money as well as time in both development and research. This money and time are being geared towards promoting perfectly performing cast as well as making sure that they are effectively trained. Cirque du Soleil has adopted a principle in which it invites perfect performers from other companies to motivate their own performers and cast. By keeping a keen look out on the casts demands and requirements, Cirque du Soleil always makes sure that their cast is well motivated and look forward to doing their best each and every day (Du Soleil, & Dupéré, 1990).
Most notably is the action Cirque du Soleil took to hire a master clown from New York to train their current clowns various techniques and tricks. The company has also invested on the training of the acrobats and gymnasts’, hence, giving them a perfect personal touch. The management challenged the staff to learn more flexible and culturally relevant moves to boost their creativity (Plompen, 2005). It is because of this that the dancers of Cirque du Soleil learnt to combine both classic ballet and Brazilian dance moves. Cirque du Soleil appreciates culture, this is mainly because it encourages artists from different cultural backgrounds to feel free to express themselves culturally (Sacco, & Segre, 2009). It is also important to note that Cirque du Soleil hired special Olympic experts to train their acrobats. Cirque du Soleil makes sure that all its staff is perfectly motivated and all their needs are dealt with.
Challenges to Cirque’s continued growth and/or diversification
Cirque du Soleil is currently facing a lot of challenges. Of the many challenges the greatest challenge is locating and recruiting some of the best artists and performers across the globe. This in itself can only be compared to finding a needle in a haystack. Despite the company investing a lot in recruiting strategies, the world is vast and at times, the perfect performer may never get scouted and recruited for service. Another challenge that Cirque du Soleil has encountered is its failure in establishing itself within the Asian market (Tebo, 2003). It is also very important to note that the currency difference in the Asian market greatly threatened Cirque du Soleil’s profits. The other challenge that Cirque du Soleil has experienced is facing steep competition from other circus giants, for e...