Marketing Budget

You must decide the budget amount you want to allocate to marketing activities.

This budget will mainly be used for communication:  TV, internet, billboards and press.  It is aimed at building and maintaining the market awareness of your Blue Ocean product.  An important measure in the Red Ocean is the “share of voice”, i.e. the ratio obtained by dividing your own marketing budget by the total marketing budget of all marketed brands, including yours.  In the case that you create a successful Blue Ocean offering, marketing ‘buzz’, free PR and the word-of-mouth of fans of your offering should allow you to lower your marketing budget.