An Analytical Study of Red Ocean and Blue Ocean Strategy with Special Reference to Indian Premier League Twenty-20 Cricket

Abstract

A range of challenges is faced by growing businesses in a globally competitive world; competition is becoming cut-throat day by day. Many companies find themselves struggling and to hold on to competition and market shares these companies are trapped in the sphere of a competition. ‘Red Ocean’ Strategy is a strategy which aims to fight and thrash the competition. In Red Ocean companies try to surpass their rivals to take hold of a greater share of existing demand.When red is there how could blue be far behind. A different concept of market grabbing, is something called ‘Blue Ocean’. ‘Blue Ocean’ is a new market untouched by competition. ‘Blue Ocean’ Strategy argues that tomorrows leading and foremost companies will succeed and do well not by battling competitors, but by creating ‘Blue Ocean’s’ of uncontested market space. The purpose of this paper is to research the soundness and dependability of the Blue Ocean Strategy and its applicability in Indian Premier League (IPL) Twenty-20 (T-20) Cricket. In a cricket-mad country, the IPL has mass appeal. In India, the single largest sport played is cricket, and inside cricket the IPL is more than just a sporting event. IPL offers “the most appropriate mix of entertainment, sport, celebrity, glamour and style. IPL T-20 Cricket has revolutionized the cricket and made the conventional cricket a profit making business with fun entertainment and pool of young cricket talents blended with sportsmanship spirit coming from different corners of the world and country.