Blue Ocean Strategy is the framework to pursue both differentiation and low cost to open a new market with new demands. The study revealed companies that go after markets with high profit potential and less competition are the most successful. Application Introductionīlue Ocean Strategy was conceptualized based on studies of company success and failure in more than 30 industries over 10 years. Instead, dive into a Blue Ocean to create your own market space, with products that align innovation, price, utility, and cost. Competing in a crowded and over-saturated Red Ocean only maintains your status quo, and is probably costly and futile. While "disruption" has become a buzzword, the concept of value innovation is the secret ingredient used by legendary favorites across different industries. Before Uber, no one clicked a button to have a stranger pick them up. Before Apple created iTunes, no one bought individual mp3 tracks over CDs.
Before there was Ford, there was no market for automobiles – because the competition was horses.
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