Blue Ocean Strategy
Definition
Blue Ocean Strategy: Blue ocean strategy creates new market space ('blue oceans') rather than competing in existing crowded markets ('red oceans'). It involves value innovation—simultaneously pursuing differentiation and low cost by eliminating and reducing some factors while raising and creating others. The goal is making competition irrelevant.
Example Usage
“Instead of competing on CRM features, we created a category around 'revenue operations'—a blue ocean where we set the rules.”
Common Misconceptions
Related Terms
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First-Mover Advantage
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