Blue Ocean Strategy is about creating new demand, not stealing market share from "summary" of Blue Ocean Strategy, Expanded Edition by W. Chan Kim,Renée A. Mauborgne
The essence of Blue Ocean Strategy lies in the fundamental idea of moving away from competition in existing market spaces to creating new market spaces. Rather than fighting for a share of an existing market, the focus is on expanding the market itself by tapping into unexplored customer needs and preferences. This shift in perspective enables companies to unlock new demand and break free from the constraints of competition. By creating new demand, companies can escape the red ocean of bloody competition and enter the blue ocean of uncontested market space. This approach allows for the creation of value innovation, where companies simultaneously pursue differentiation and low cost, offering customers a leap in value while keeping costs under control. In doing so, companies can attract a new segment of noncustomers who were previously outside the indus...
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