Definition of Blue Ocean Strategy

✅  Related keywords: market-creating innovation, create uncontested market space, value curves

📖  What is Blue Ocean Strategy?

Innovation that creates a new market, by creating and capturing demand that did not previously exist. Companies that use a blue ocean strategy will start their operations without competitors, a massive competitive advantage. This strategy is optimal for companies without the same level of technical capability as the best competitors in their category. An example of a successful blue ocean strategy is the Nintendo Wii, which captured a new market for video games. Nintendo did not have the capacity to compete with Sony and Microsoft on a technical level at the time, so they found a new market instead.