is a strategy concept representing a better way for the business to grow and generate profits.
It is different from the more traditional Red Ocean
strategy which is full of sharks and wars, thus generating worse results in the long-term.
Red Ocean Strategy :
- Compete in existing market space
- Beat the competition
- Focus on existing customers
- Exploit existing demand
- Make the value-cost trade off (create greater value to customers at a higher cost or create reasonable value at a lower cost)
- Align the whole system of a firm's activities with its strategic choice of differentiation or low cost
Blue Ocean Strategy:
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- Create uncontested market space
- Make the competition irrelevant
- Focus on non-customers
- Create and capture new demand
- Break the value-cost trade off (Seek greater value to customers and low cost simultaneously)
- Align the whole system of a firm's activities in pursuit of differentiation and low cost
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