The Blue Ocean Strategy is a business theory that suggests companies are better off searching for ways to play in uncontested market spaces (Blue Oceans) rather than competing in spaces and ways that have become saturated with competition (Red Oceans). In the auto industry, this could be applied by creating a unique value proposition that isn't currently offered. For example, a company could focus on creating a new market segment, such as affordable electric vehicles with long-range capabilities, or offering unique services, like subscription-based vehicle ownership. This would create a new demand in an uncontested market space, thereby applying the Blue Ocean Strategy.
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