Raise: What factors should be expanded to exceed the industry’s standard?.Kim and Mauborgne recommend asking the following questions to revamp buyer value elements in crafting a new demand or value curve. This strategy guides the business toward launching a blue ocean initiative. In this case, they search for new products to take advantage of the uncontested market.īusinesses can consider the Four Actions Framework strategy to devise buyer value elements in creating a new value curve.

Find, Develop and Launch Blue Ocean Strategiesīlue ocean strategy becomes a necessity when supply outperforms the demand or when businesses have no or limited opportunities for growth. However, the core principles for blue oceans remain the same: catering to untapped market space. Some blue ocean products and services have their origins in expanding the red ocean market. Since the market is unexplored in blue ocean strategy, this allows blue ocean companies to set the boundaries of the market and earn massive profits.īlue ocean business strategies are focused on creating products and services for an unrealized market. The creation of blue ocean products or services is considered innovative because already-existing red ocean businesses overlook these markets as they consider them insubstantial.

With blue ocean products and services, customers are not aware of their requirements or unmet demand. Blue ocean markets offer massive opportunities, allowing businesses to cater to a new and unrealized market. Definition: The blue ocean represents an unexplored market, and blue ocean strategies help businesses tap into this marketplace.

Blue Ocean Strategy for mac instal