The steps to create a blue ocean in a saturated market involve focusing on innovation that creates a whole new market. This allows a company to stand out and avoid the cutthroat competition and shrinking profits of the red ocean. The key is to not fight for incremental competitive advantage and market share, but to create and capture a blue ocean that allows for sustainable, profitable growth.
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This book challenges readers to rethink traditional incremental innovation approaches. Typically, head-to-head competition is the norm for increasing...
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In creating this blue ocean, readers can avoid fighting for incremental competitive advantage and market share in what the authors call "the red ocean." Red oceans are the overcrowded, bloody, cutthroat arenas where companies struggle to stand out and compete amidst shrinking profits. Readers will learn that this approach inhibits value innovation, causes price wars, and limits profit margins, creating a marketplace that prevents sustainable, profitable growth. By creating and capturing their blue ocean, readers can get out of the red ocean and stand out by focusing on innovation that creates a whole new market.
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