Red ocean and blue ocean strategy pdf
Red Ocean Strategy V/S Blue Ocean Strategy - EasyNotes4U AcademyBlue Ocean. You may think that Chan Kim and Renee Mauborgne may fall into the category of trying to coin new words to set their concepts apart, but there is method to the madness. The concept is quite simple to understand. The Red Ocean is where every industry is today. There is a defined market, defined competitors and a typical way to run a business in any specific industry.
Make the competition irrelevant: BLUE OCEAN STRATEGY by W.C. Kim and R. Mauborgne
Blue Ocean Strategy & Shift Tools
To understand red ocean strategy let us begin by defining blue ocean strategy. Blue Ocean Strategy is where a company creates a completely new market space or market category. This new market space is created by launching new offerings, with the aim being to make the competition irrelevant so that an organization can grow, uncontested, at least in the beginning. You can think of a blue ocean being a place where the sailing is easy uncontested with clear water if you can successfully introduce an offering. Blue Oceans can be thought of as markets that do not exist yet.
This blog article is a overview of some of the key points of the book by W. In this article you will learn how to make your competition irrelevant and have sales and profit growth in excess of anything you thought was even possible. Click the link above or the picture below to read more. Interested in buying the book? Blue oceans strategy is the approach that suggests a company is better off searching for ways to play in uncontested market places instead of engaging with competition in existing marketing spaces.
Trap One: Seeing Market-Creating Strategies as Customer-Oriented Approaches
Red oceans are all the industries in existence today — the known market space, where industry boundaries are defined and companies try to outperform their rivals to grab a greater share of the existing market. Cutthroat competition turns the ocean bloody red. Blue oceans denote all the industries not in existence today — the unknown market space, unexplored and untainted by competition. The chart above summarizes the distinct characteristics of competing in red oceans Red Ocean Strategy versus creating a blue ocean Blue Ocean Strategy. Get Blue Ocean Shift to learn the ins and outs of how to put this tool in practice. In their New York Times bestselling book, Blue Ocean Shift , Kim and Mauborgne share how to put these practical market-creating tools into practice to move from red to blue oceans and to do so in a way that people own and drive the process. All rights reserved.