Creating Blue Oceans Strategy
Red Oceans represent all the industries in existence today. It’s a Known market space;
Whereas Blue Oceans denote all the industries Not in existence today. This is the Unknown market space.
Although the term blue oceans is new, their existence is Not.
Value Innovation: The Cornerstone of Blue Ocean Strategy
The companies caught in the Red Oceans followed conventional approach, racing to beat the competition by building a defensible position within existing industry order. The creators of Blue Oceans, surprisingly, didn’t use the competition as their benchmark. Instead, they followed a different strategic logic that we call value innovation. We call it value innovation because instead of focusing on beating the competition, you focus on making the competition irrelevant by creating a leap in value for buyers and your company, thereby opening up new and uncontested market space. Value innovation
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