Week 5 Discussion and Participation Questions Essay - 1

Week 5 Discussion and Participation Questions - Essay Example The fast food industry is an example of an industry that is facing a red ocean. There are over 160,000 fast food restaurants in the United States serving over 50 million people daily in an industry generates approximately $165 billion in revenues each year (Numberof, 2011). The red ocean characteristics of the industry mean that the industry is every saturated. A way to create a blue ocean within this industry is by formulating a niche strategy. A good niche strategy would be to form a pizza fast food chain that specializes in Neapolitan pizza. Neapolitan pizza is an Italian pizza style that cooks pizza at high temperature which enables the pizza to be ready in three minutes. I see how your specialized talents could help a person in a niche within a marketplace. I have a family member that recently graduated from psychiatric school. She has on offer on the table to work in Laredo Texas. She is trilingual. She speaks fluent English, Spanish, and French. In Laredo Texas there is a high population of Latino people especially a lot of Mexicans because Laredo is located near the border of Mexico. Looking back at history Texas used to be a part of Mexico. My cousin has a great chance in the future to create her own niche psychiatric practice based on the fact that she speaks three languages. I respect the fact that you might not be interested in pursuing a niche strategy for yourself as far as not wanting to start your own business, but as a future MBA graduate it is in your best interest to study and learn how niche markets work. As a future manager you might be faced with a scenario in which you might have to perform a product launch for the company you are going to work in the future based on a product positioned in a niche market. In the educational field you might be able in the future to formulate a niche market strategy. For instance you could start a business that provides