blue ocean strategy

Advanced 📣 Marketing / Advertising

Definition

Creating an uncontested market space where competition is irrelevant because you're the only fish in the pond. The opposite of battling in the 'red ocean' where everyone's fighting over the same bloody scraps.

Example Usage

Instead of competing in the crowded CRM market, we're pursuing a blue ocean strategy by targeting a niche no one else serves.

Origin

Coined by W. Chan Kim and Renée Mauborgne in their 2005 book of the same name

Fun Fact

Cirque du Soleil is the poster child of blue ocean strategy, creating a new market space between circus and theater that had literally no competitors.

Source: Business strategy and marketing theory literature

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