Virginia Commonwealth University The Marvel Way Restoring a Blue Ocean Questions
1. Who were the non-customers Marvel targeted?
2. There are several attempts to explain Marvels Success via competetive strategy but they fall flat: competitve strategy, with this specific case neither predicts nor explains the outcome why?
There have been several attempts to explain Marvel’s success via competitive strategy but they fall flat: competitive strategy, with this specific case, neither predicts nor explains the outcome. Why?
Marvel’s success can not be explained by their competitive strategy because at the time their competition was only themselves. They spent several occasions where there was competition from within on which would be the right decision for the company to offer the purest product. Their self-competition consisted of how they will attract noncustomers, red ocean or blue ocean, bankruptcy, to hire top tier movie stars or regular joes, and to hire well-known directors or suitable directors are all some of the self-competition the company faced during its time. Their most vital factor of competition was their decision to control their own destiny in the movie industry. Their massive $525 million non-recourse lines of credit allowed Marvel to open up to many new key factors and back into the blue ocean where they were most successful.
2. Who were the noncustomers Marvel targeted?
The non-customers Marvel were interested in were those who had no attentiveness to be associated with their world renowned brand. Marvel was well aware that marketing low cost knockoffs to kids would keep their business afloat. Stan Lee knew that his as-is strategy with me too knockoffs would no longer be of any benefit. He was able to focus on non customer college students in the mid 1960’s that led his company to a new lane of success.” College students are educated, brand-loyal consumers..More than 15 million U.S. college students spend more than $200 billion annually.”(Marketing to College Students,2020). This demographic is perfect for the Marvel industry since they are very loyal, impressionable, spend their money on what they enjoy, and a great source of word of mouth advertisement. Marvel’s adaptation to creating comics on character first superheroes also was very successful on noncustomers. Marvel’s ability to create relatable movies also played a great part which then led to creating very diverse movies.