"Blue Ocean Strategy" introduces a methodology for businesses to transcend competitive markets, termed "red oceans," by creating uncontested market spaces, or "blue oceans."
This involves pursuing value innovation, which simultaneously lowers costs and increases value for buyers.
The book emphasizes understanding customer needs and noncustomer opportunities, building robust business models, and strategically aligning utility, price, cost, and adoption.
Implementation requires addressing potential stakeholder resistance through fair processes and inspired leadership.
Numerous case studies like Yellow Tail wine, Cirque du Soleil, and Apple illustrate how companies in diverse industries have successfully created and sustained blue oceans.
Furthermore, the historical analysis of industries like automobiles, computers, and movie theaters demonstrates the recurring pattern of blue ocean creation.
The authors also underscore the importance of continually renewing blue oceans to avoid competitive convergence.
