What role does customer feedback play in the Blue Ocean Strategy?

Yes, there are several real-world examples of the Blue Ocean Strategy. One of the most famous is Cirque du Soleil, which reinvented the circus industry by eliminating animal shows and focusing on a more artistic and theatrical approach, thus creating a new market space. Another example is Nintendo's Wii, which expanded the gaming market by targeting non-gamers with its innovative motion-sensing controller. Lastly, Uber disrupted the traditional taxi industry by creating a new market space with its ride-sharing app. These companies all successfully applied the Blue Ocean Strategy by creating uncontested market spaces, making the competition irrelevant.

The Blue Ocean Strategy influences a company's strategic planning by encouraging them to shift from traditional competitive strategies to innovative ones. Instead of engaging in head-to-head competition for market share, companies are encouraged to create new, uncontested market spaces (blue oceans) through innovation. This approach allows companies to make competition irrelevant and create new demand, leading to potential high growth and profits.