What is Blue Ocean Strategy?
Blue ocean strategy definition: Blue ocean strategy refers to a marketing strategy popularized by the entrepreneurs and authors Renée Mauborgne and W. Chan Kim.
Their book – Blue Ocean Strategy – outlines a way that marketers can identify new markets and tailor their messaging to them.
Using the analogy of sharks in the ocean they theories there are two types of marketplaces:
- Red Oceans: existing marketplaces that have been saturated by competition, and have been made red and bloody
- Blue Oceans: markets that do not yet exist, and therefore have no competition to bloody the waters
Marketers who employ a blue ocean strategy aim to create demand in a new market by becoming the first people to serve the audience there.
Popularity of the term Blue Ocean Strategy
Concept related to Blue Ocean Strategy
Additional resources about Blue Ocean Strategy
- Blue Ocean Strategy: Creating Your Own Market
- Moving To Blue Ocean Strategy: A Five-Step Process To Make The Shift
- The Explainer: Blue Ocean Strategy [Video]