Your guide to creating uncontested market space―and making the competition irrelevant.
Animated video Summary by Productivity Game
Key Takeaways
Recognized as one of the most iconic and impactful strategy books ever written, Blue Ocean Strategy, argues that cutthroat competition results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool. Lasting success comes not from battling competitors but from creating “blue oceans”― untapped new market spaces ripe for growth.
Blue Ocean Strategy presents a systematic approach to making the competition irrelevant and outlines principles and tools any organization can use to create and capture their own blue oceans. Consider this your guide to creating uncontested market space―and making the competition irrelevant.
Striving to beat the competition in an established market is a bad business strategy.
Red Ocean Strategy If you try to enter an established market with the hopes of outperforming the competition, you’re adopting a Red Ocean Strategy.
- In today’s world, thanks to the rise in technology and widespread access to information, it’s too easy for businesses to enter an established market and saturate that market.
- When a market is saturated, the only way to succeed is battling for market share, which turns the market waters bloody and red.
Blue Ocean Strategy Avoid competition and search for untapped market potential/category to dominate. You’ll increase your chances of survival and profitability.
Value Innovation 101
Value Innovation the ability to create an innovative new product while at the same time keeping costs low. It’s at the heart of every blue Ocean business.
- What can I Eliminate?
- What can I Reduce?
- What can I Raise?
- What can I incorporate to Create something new and attract infrequent or absent customers?
Stop focusing on how you can beat the competition and start focusing on how you can make the competition irrelevant.
To learn more about the power of blue ocean strategy, visit blueoceanstrategy.com. Find all the resources you need―from ideas in practice and cases from government and private industry, to teaching materials, mobile apps, real-time updates, and tips and tools to help you make your blue ocean journey a success.