Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant by W. Chan KimThe global phenomenon, embraced by business worldwide and now published in more than 40 languages.
This international bestseller challenges everything you thought you knew about the requirements for strategic success.
Since the dawn of the industrial age, companies have engaged in head-to-head competition in search of sustained, profitable growth. They have fought for competitive advantage, battled over market share, and struggled for differentiation. Yet, as this influential and immensely popular book shows, these hallmarks of competitive strategy are not the way to create profitable growth in the future.
In the international bestseller Blue Ocean Strategy, W. Chan Kim and Renee Mauborgne argue that cutthroat competition results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool. Based on a study of 150 strategic moves (spanning more than 100 years across 30 industries), the authors argue that lasting success comes not from battling competitors, but from creating blue oceans—untapped new market spaces ripe for growth. Such strategic moves, which the authors call “value innovation,” create powerful leaps in value that often render rivals obsolete for more than a decade.
Blue Ocean Strategy presents a systematic approach to making the competition irrelevant and outlines principles and tools any company can use to create and capture their own blue oceans. A landmark work that upends traditional thinking about strategy, this bestselling business book charts a bold new path to winning the future.
What is Blue Ocean Strategy?
If you are a part of the business community, you might be familiar with the concept of blue ocean strategy. It is a marketing theory from the similarly-named book that was published in and became a perennial bestseller. It is generally acknowledged that the title, Blue Ocean Strategy , sounds very appealing.
W. Chan Kim
Red Ocean Strategy
To understand red ocean strategy let us begin by defining blue ocean strategy. Blue Ocean Strategy is where a company creates a completely new market space or market category. This new market space is created by launching new offerings, with the aim being to make the competition irrelevant so that an organization can grow, uncontested, at least in the beginning.
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Red Ocean Strategy Advantages
The blue ocean strategic concept was developed by Profs. It posits that creating a new market can be more beneficial than competing in an existing market with established competitors. - Are you tired of battling your competitors in a saturated marketplace? Do you find yourself acting as a competitive cancer, trying to reign victoriously among your constituents?