5
Blue ocean strategy
The big picture
Blue ocean strategy focuses attention on the creation of new markets at the product development stage. The concept is designed to encourage managers to focus on the creation of uncontested markets.
Most strategic models focus on achieving competitive advantages, the central question being how to be better than the competition. The ‘blue ocean strategy’ model does not focus on winning from competitors, but on making the competition irrelevant by creating ‘blue ocean’ opportunities. Blue oceans are uncontested marketplaces in which new demands from customers are satisfied (Kim & Mauborgne, 2005). ‘Red oceans’, ...
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