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.
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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]