Chapter 01 / Summary
1. Create uncontested market space by redefining industry boundaries
Blue oceans denote all the industries not in existence today. This is the unknown market space.
Redefine competition.Instead of competing in existing market space (red oceans), companies can create new market space (blue oceans) where competition is irrelevant. This involves looking across alternative industries, strategic groups, buyer groups, complementary products/services, functional-emotional orientation, and even time to reconstruct market boundaries.
Challenge industry assumptions.Blue ocean strategy requires breaking free from accepted industry norms and competitive benchmarking. By questioning fundamental assumptions about how an industry operates, companies can discover innovative ways to create value for customers.
Examples of blue ocean creation:
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