![]() By pushing the boundaries of an existing market.Ĭonsider the following examples: Cirque du Soleil.By creating an entirely new marketspace. ![]() You can create blue oceans in one of two ways: This frees up the companies that create them to concentrate on value-innovation in a space where there’s more than enough room for quick and profitable growth.Įxamples of Successful Blue Ocean Strategies Blue oceans represent new markets where, since they’re unknown, there are no players other than the companies that create them.ĭemand isn’t fought over, because there’s no competition.As a result, the water turns bloody (metaphorically speaking). Red markets are established markets where all of the competing companies are fighting over the same business.Kim and Mauborgne determined that in business, there are two types of markets: red oceans and blue oceans. Chan Kim and Renée Mauborgne of the INSEAD (the European Institute of Business Administration) and first set out in their 2005 book “Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant.” If you’ve answered, “The competition,” then you’re not alone.īut what if we told you there’s a way to create your own market - one without any competition at all?Īnd that requires creating a blue ocean strategy- your personal marketing strategy.īlue Ocean Strategy was developed by W. As an entrepreneur, what is your biggest concern when it comes to the marketplace?
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |