Cirque du Soleil is one of the largest cultural export firms in Canada. Per the case study, the corporation achieved high revenues within 20 years of its formation that Ringling Bros. and Barnum & Bailey, the world’s leading circus, took more than a century to attain. Despite the circus industry being adversely affected by the decreasing number of audiences and increasing costs of performances, Cirque du Soleil achieved rapid growth in its revenues because of its blue ocean strategy.
Cirque du Soleil adopted the blue ocean strategy to generate revenues from uncontested market space, and this approach made it difficult for Ringling Bros. and Barnum & Bailey to compete with it. The case study asserts that by adopting the blue ocean strategy, Cirque du Soleil chose not to compete with the other business; rather, it decided to explore a market in which these other firms were not interested. The case study further asserts that Cirque du Soleil pulled in a new group of customers who were traditionally non-customers of the Circus industry. Per the case study, the new group of customers comprised of adults and corporate clients who had turned to theatre, opera, or ballet, and were willing to pay more than the normal Circus ticket for an unprecedented entertainment experience.
Cirque du Soleil is one of the largest cultural export firms in Canada in terms of revenues. The case study asserts that the firm achieved rapid revenue growth in an unattractive Circus industry environment by adopting a blue ocean strategy. The strategy allowed it to create an open marketplace by attracting a group of customers who were traditionally not interested in the Circus industry.