BLUE OCEAN STRATEGY is the simultaneous pursuit of differentiation and low cost to open up a new market space and create new demand. It is about creating and capturing uncontested market space, thereby making the competition irrelevant.
Blue Ocean Strategy emphasizes creating new market space with little or no competition, while Red Ocean Strategy competes in mature markets where many companies compete for the same customers. The key difference is whether a business enters a crowded space or designs an entirely new one.
What is Blue Ocean Strategy? Blue Ocean Strategy is a strategic business framework in which companies achieve superior market positions by creating new and uncontested market spaces (aka “blue oceans”) instead of competing in existing and competition-saturated markets (aka “red oceans”).
Explore Blue Ocean Strategy, a game-changer in business that opens untapped markets with little competition. Learn its key features and see examples like Apple and Netflix.
Blue ocean strategy is a business theory that aims to create new market spaces with little or no competition by providing value innovation. This strategy identifies and explores untapped areas where demand is high, and competition is irrelevant.
Blue Ocean Strategy & Shift: Create New Market Space and Make the ...
Unlike the "red ocean strategy", the conventional approach to business of beating competition derived from the military organization, the "blue ocean strategy" tries to align innovation with utility, price and cost positions.
By definition, “Blue Ocean Strategy is the simultaneous pursuit of differentiation and low cost to open up a new market space and create new demand. It is about creating and capturing uncontested market space, thereby making the competition irrelevant.