A blue ocean is a strategy where the boundaries of existing markets are redefined, and new uncontested markets are created.
At its core, value innovation creates uncontested markets, makes competition irrelevant, and breaks the cost-value trade-off.
Thus, companies following a blue ocean strategy offer their end customers much more value at a lower cost.
In short, the Blue Ocean’s premise is just that you can break down classical value barriers (trade-off between value and cost) by coming up with a whole new business model that fits into that value break-off!
Before I dive into it, below is a visual representation of what I’ll cover in this issue!
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