Blue Ocean Strategy is the simultaneous pursuit of differentiation and low cost to open up a new market space and create new demand. It provides a systematic approach to making the competition irrelevant.
A‘red ocean,’ therefore, is the opposite of a ‘blue ocean.’ A read ocean has reached saturation point, i.e., there are too many competitors fighting for market share. A blue ocean, on the other hand, is ‘virgin territory.’ Creating a Blue Ocean Strategy There are two ways we ...
The blue ocean strategy might be a boon for your business, or it may unintentionally hamper your operations. Look over the blue ocean pros and cons to decide if the strategy is right for you. Pros of the blue ocean strategy These are some of the benefits of the blue ocean strategy: You...
Unexplored and untainted by competition, 'blue oceans'are vast, deep, and powerful in terms of opportunity and growth. WHAT IS RED OCEAN STRATEGY? WHAT IS RED OCEAN STRATEGY? Red ocean strategyis all about competition. As the market space gets more crowded, companies compete fiercely for a gr...
What is the blue ocean strategy? The blue ocean strategy, also known as Value Innovation, is a method where companies enter new, competition-free markets by developing an innovative concept. The strategy was developed by W. Chan Kim and Renée Mauborgne, who use the metaphor of “blue oceans...
Why Is a Blue Ocean Strategy Difficult to Implement? Blue ocean strategies are difficult to implement for a simple reason: if it were easy, someone probably would have already done it. Since blue ocean strategies require identifying untapped markets, and sometimes reinventing the market itself, a...
Blue Ocean Strategy Scenario PlanningWhy does a PESTEL analysis matter?A PESTEL analysis is one of the tools and frameworks that marketers can use to assess the impact of external market forces on the organization’s growth and profitability over time.Indeed...
In many cases, if thegrowthstrategyis organized around a staged rollout (you open up your products to more comprehensive and broader groups of people), it can pick up quickly. The advantage of using thisstrategyis threefold: Offer value where the giant gatekeepers can’t. ...
Blue Ocean Strategydeveloped byINSEADprofessors focuses on creating uncontested market space. It rejects traditional competitive thinking in favor of value innovation. The key principles include: Breaking the value-cost trade-off Creating new demand ...
Blue Ocean Strategy In a saturated market, gaining a greater share of the market eventually becomes impossible. That is when aBlue Ocean Strategybecomes an interesting option. This strategy involves entering a market where no rivals exist. The Blue Ocean Strategy theory was put forward by two INSE...