Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant

{original squeezed contributor: karl & chiefripper}

Key Points

  • Moving into untapped or uncontested markets (blue oceans) is a preferable strategy to fighting it out in saturated markets (red oceans).

  • Innovation is the key to creating blue oceans. Create something that is new, and you will reap the rewards.

Summary

The authors introduce a “Four Actions Framework” to systematically create blue oceans: Analyzing a business that is competing in a red ocean: 1) Eliminate a part of the offering that is expected 2) Introduce a new offering that is unexpected 3) Reduce an offering 4) Augment an offering

This creates a new offering that is uncontested - at least until it is imitated, which may create a need to apply the same discipline again.

Links

http://www.blueoceanstrategy.com/

Recommended Resources

For a more in-depth, comprehensive summary of Blue Ocean Strategy, check out GetAbstract.com


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