![]() The book is based on a study of 150 strategic moves spanning more than a hundred years and thirty industries, Kim & Mauborgne argue that companies can succeed by creating “blue oceans” of uncontested market space, as opposed to “red oceans” where competitors fight for dominance, the analogy being that an ocean full of vicious competition turns red with blood. Chan Kim and Renée Mauborgne, professors at INSEAD and co-directors of the INSEAD Blue Ocean Strategy Institute. The strategy is from a book published in 2005 which was written by W. ![]() Blue Ocean Strategy can be applied across sectors or businesses. This strategy revolves around searching for a business in which very few firms operate and where there is no pricing pressure. Let us understand the famous “Blue Ocean Strategy” in detail.īlue Ocean Strategy is a marketing theory that refers to a market for a product where there is no competition or very less competition. Have you heard of a strategy that does not suggest you to compete in the existing market and not to fulfill the known, existing demand? Strange, isn’t it? Rather it promotes to create a vast new blue ocean, full of emerging new demands and therefore opportunities. What separates high-performing and successful companies from those that fail to last? To ensure the strong foundation and continual success of the business, firms adopt various market strategies to establish themselves in the market. In today’s highly dynamic business world, all companies compete head-to-head using various business strategies, but only a few are able to sustain in the market. Blue Ocean Strategy – Winning through sailing in blue oceans
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