Blue Ocean Strategy encourages companies to seek out new market opportunities from "summary" of Blue Ocean Strategy with Harvard Business Review Classic Article “Red Ocean Traps” (2 Books) by W. Chan Kim,Renée A. Mauborgne
Blue Ocean Strategy is centered around the idea that companies should not limit themselves to competing in existing market spaces, known as "red oceans," where competition is fierce and profits are often stagnant. Instead, the strategy encourages companies to explore new market opportunities, referred to as "blue oceans," where competition is irrelevant or non-existent, allowing for the creation of uncontested market space. By seeking out new market opportunities, companies can unlock new sources of value for both themselves and their customers. This involves identifying and targeting underserved or overlooked customer segments, as well as reimagining industry boundaries and value propositions to differentiate themselves from competitors. In doing so, companies can break out of the traditional competitive mindset and carve out a unique position in the market. ...
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