Blue Ocean Strategy and Sustainable Competitive Advantage in Fast Moving Consumer Good Industry in Nigeria
Year: 2024
Type: article
Abstract: This study focused on the influence of blue ocean strategy and sustainable competitive advantage in fast moving consumer good industry in Nigeria. The main objective of this study was to ascertain the effect of blue ocean strategy dimensions such as value innovation, demand creation, growth and profitability on sustainable competitive advantage in fast moving consumer good industry in Nigeria. The research question and hypothesis were formulated in line with the research objective. Methodologically, survey research design was adopted for the study. Related literature aimed at enriching the conceptual framework. The population of the study was 157 full-time employees and a sample size of 113 was drawn from the population using Taro Yamane Formula. The collected data were further analyzed using Simple Linear Regression at a 0.05 level of significance. Findings showed that the three independent variables (value innovation with X1= R2 = 63.9, demand creation X2 = 67.9 at 0.05 level of significance and X3 = 52.3. It was concluded that by substituting competitive advantage for value innovation, demand creation, growth and profitability as the main objectives where businesses must generate customer demand and penetrate undiscovered markets blue ocean strategy aims to completely flip the conventional wisdom on strategic management. It was recommended that value innovation is a cornerstone of the blue ocean strategy and represents the simultaneous pursuit of differentiation and low cost, creating a leap in value for both the company and its customers.
Authors: Uttong, Blessing Godwin, Ekanem, Uforo Akpan, Uwa, Kingsley Lazarus, Ph.D.
Institutions: Akwa Ibom State University, University of Uyo
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W6912044676
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