Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Cirque du soleil success factors

23/04/2021 Client: muhammad11 Deadline: 2 Day

Cirque du Soleil: Searching for a New Blue Ocean By Frank Rothaermel FOUNDED IN 1984 by two street performers, Guy Laliberté and Gilles Ste-Croix, in an inner-city area of Montreal, Canada, Cirque du Soleil today is the largest theatrical producer in the world. With its spectacularly sophisticated shows, Cirque’s mission is to “evoke the imagination, invoke the senses, and provoke the emotions of people around the world.”1 Employing some 5,000 people (one-third of them artists) and with annual revenues of about $1 billion, Cirque is hugely successful. Since its founding, some 200 million people worldwide have been dazzled by its high-quality artistic shows, with some 15 million viewers per year recently. How did Cirque become so successful while most circuses either shut down or barely survive? Cirque’s Blue Ocean Strategy and Value Innovation Using a blue ocean strategy based on value innovation (PLEASE LOOK AT THE PPTs TO UNDERSTAND THE CONCEPT OF BLUE OCEAN STRATEGY!), Cirque du Soleil created a new and thus uncontested market space in the entertainment industry. A blue ocean strategy attempts to make the competition irrelevant by creating new, uncontested market spaces. For a blue ocean strategy to succeed, managers must resolve trade-offs between the two generic strategic positions—low cost and differentiation. This is done through value innovation, aligning innovation with total perceived consumer benefits, price, and cost. Instead of focusing to compete directly with rivals, attempting to outcompete them by offering better features or lower costs, successful value innovation makes competition more or less irrelevant by providing a leap in value creation, thereby opening new and uncontested market spaces. Successful value innovation requires that a firm’s strategic moves lower its costs and at the same time increase the perceived value for buyers. Lowering a firm’s costs is primarily achieved by eliminating and reducing the taken-for-granted factors that the firm’s rivals compete on. Perceived buyer value is increased by raising existing key success factors and by creating new elements that the industry has not offered previously. To initiate a strategic move that allows a firm to open new and uncontested market space through value innovation, managers must answer the four key questions below when formulating a blue ocean business strategy. In terms of achieving successful value innovation, note that the first two questions focus on lowering costs, while the other two questions focus on increasing perceived consumer benefits. Value Innovation: Lower Costs 1.Eliminate. Which of the factors that the industry takes for granted should be eliminated? 2.Reduce. Which of the factors should be reduced well below the industry’s standard? Value Innovation: Increase Perceived Consumer Benefits 3.Raise. Which of the factors should be raised well above the industry’s standard? 4.Create. Which factors should be created that the industry has never offered? Let’s take a closer look at how Cirque used the eliminate-reduce-raise-create framework to reinvent the circus and to create a blue ocean of uncontested market space where competition is less of a concern. ELIMINATE In redefining the circus, Cirque du Soleil eliminated several taken-for-granted elements. First, Cirque did away with all animal shows. In recent years, the public has grown much more concerned about the humane treatment of animals. In addition, animals were the most expensive items for a circus because of their needed care, transportation, medical attention, insurance, and food consumption (a grown male lion can devour some 90 pounds of meat a day). Second, Cirque did away with star performers. They were also expensive; moreover, their name recognition in comparison to movie or sports stars is trivial. Third, it also abolished the standard three-ring venues. They were also expensive since so many performers had to be on stage at the same time, and they frequently created anxiety among circus-goers as they switched their attention rapidly from venue to venue. Finally, it did away with aisle concession sales. They annoyed most circus visitors not only because of the frequent interruptions and interference with the viewing experience, but also because visitors felt taken advantage of because of the vendors’ high prices. REDUCE Cirque kept the clowns, but reduced their importance in the shows. Moreover, it shifted the clown humor from slapstick and low-brow to a more sophisticated and intellectually stimulating style. RAISE Cirque significantly raised the quality of the live performance with its signature acrobatic and aerial stunts to levels never seen before. While many other circuses did away with the luxurious circus tents of old in favor of generic low-cost venues that they rented, Cirque, in contrast, glamorized the circus tent. Using the tent as a unique venue capturing the magic of the circus, Cirque built tents with magnificent exteriors, which attracted the attention of the public, combined with a much higher level of comfort and amenities in the tent’s interiors. Given that Cirque attracted consumers who were used to paying much higher ticket prices for live performances at the theater and ballet than what the traveling circus charged, it raised ticket prices (starting at $75 up to $200).

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

ECFX Market
Calculation Guru
Instant Homework Helper
Math Specialist
Top Class Engineers
Supreme Essay Writer
Writer Writer Name Offer Chat
ECFX Market

ONLINE

ECFX Market

You can award me any time as I am ready to start your project curiously. Waiting for your positive response. Thank you!

$23 Chat With Writer
Calculation Guru

ONLINE

Calculation Guru

I have read your project details. I can do this within your deadline.

$39 Chat With Writer
Instant Homework Helper

ONLINE

Instant Homework Helper

I will cover all the points which you have mentioned in your project details.

$40 Chat With Writer
Math Specialist

ONLINE

Math Specialist

I have read your project details. I can do this within your deadline.

$15 Chat With Writer
Top Class Engineers

ONLINE

Top Class Engineers

You can award me any time as I am ready to start your project curiously. Waiting for your positive response. Thank you!

$32 Chat With Writer
Supreme Essay Writer

ONLINE

Supreme Essay Writer

I am known as Unrivaled Quality, Written to Standard, providing Plagiarism-free woork, and Always on Time

$32 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

Advantages and disadvantages matrix structure - Rmit mid year intake - Capital Structure - Unit V Annotated Bibliography - E-commerce Business - Hw 3 - Class4wk1d1 - Mt baw baw live snow cam - Palen creek correctional centre phone number - How to do t charts accounting - Introduction to java programming 11th edition - Competitive profile matrix example - Information governance - Happy days heart song lyrics - What ways are academic and spiritual growth tied together - Explain using examples the impact of individual perception on morale - 1985 diethylene glycol wine scandal - Calculating nursing staffing needs - Devonshire building newcastle university - International journal of trend in scientific research and development ijtsrd - King wave - Cell structure and function experiment - Presentation. Computer Science 302 - Risks incurred by financial institutions - Leadership development perk or priority case analysis - Alternating bands of gray and pigmented hair - Resume edit - Australian flexible learning framework - In a laboratory experiment you wish to determine the initial speed of a dart - Steps in international marketing - X 509 authentication service pdf - Los vendidos by luis valdez - John radcliffe women's centre - Targeting - 7 laws of indices - Krumboltz theory of career choice - Films on demand database ashford - What is green pasture means - Analysis of "Credit Sale Slaves" and "The Planter's Annual Record" - Decision making under certainty uncertainty and risk examples - Meiotic division beads diagram with crossing over - The distance time graph for uniform motion is - Northern territory beekeepers association - Papers on International Management - 3 resources - A polygon with 15 sides - Nuffield academy online kallidus 1 - Interview Questions Answered - Food truck catering contract - Capital budgeting practice problems and solutions - Unit 12 internet marketing in business - Assignment 2 situation analysis - Cardax access control system - Contract Plan and Milestones - Cv1 coffee maker how to use - Magnetism and its uses - Define lexicon in psychology - Attributed personal service income - Spine stretch pilates exercise - How has new belgium implemented the marketing concept - Security+ guide to network security fundamentals 4th edition review questions answers - Information system in e commerce case study - Computercraft password protected computer - London fire brigade welfare fund - I Do, We Do, You Do - Risks threats and vulnerabilities commonly found in the workstation domain - Lab computer science - How you plan to avoid operational transaction and translation exposure - The psychology of reading - Data related to the inventories of costco medical supply - A police department reports that the probabilities - Probability and statistical inference pdf hogg download - Linde l tec 225 owner's manual - Are moon jellyfish pelagic or benthic organisms - Samsung first product dried fish - Homework help - Walmart global ethics online complaint form - Free appliances for disabled - Catcher in the rye introduction - Walgreens usaa atm - Guyuk khan letter to pope - NEED IN 15 HOURS or LESS - Research Methods in Criminal Justice - Week 11 News Journal. - Explain how lol has evolved over the years - Cisco easy vpn remote - Punctuated equilibrium model of team development - What are the reactants of rust - A light year is defined as - Snl junk in a box censored - Jennings michael burch interview - Full block style letter - Deep Web and phishing - Opord - Examples of significant figures - Nces create a graph - Why do some people feel threatened by diversity - We them niggaas ace hood - Antimicrobic sensitivity testing - Mbti personality types ppt - Guardian quick crossword 14895