IDEA BUILDER

Key Idea Facts

Blue ocean strategy is a type of strategy Companies that are using blue ocean strategy
where a businessman or a company
open a type of business that being
unique to the marketplace because blue
ocean strategy sells product or give
services that new to marketplace,
creating and capture a new product and
breaking the value-cost of trade off
leaving the competition irrelevant
will succeed not by battling competitors, but by
systematically creating “blue oceans” of
uncontested market space ripe for growth.
Blue ocean strategy can be applied across all
types of industries from the typical suspects of
consumer product goods to B2B, industrial,
pharmaceutical, financial services,
entertainment, IT etc.

Importance
The importance of knowing this kind of strategy on business is that it will be a big
help when you are starting a business because you will get an idea that doesn’t
mean that you are different to others doesn’t mean you are doing something
wrong, and it will make you to be creative and to think wider because at this
strategy you are creating new products that are new to marketplace

What confuses me
What confuses me about blue ocean strategy is that how can you identify a
business that is using this kind of strategy and if this kind of strategy has a high
chance of succeeding when using on a business

Definition
Blue ocean strategy is the simultaneous pursuit of differentiation and low cost to
open up a new market space and create new demand. It empowers organizations by
providing a set of analytical tools and frameworks that any company can apply to
reshape industry boundaries in their favor and leave the competition behind.