The concept was originally presented in a Harvard Business School Press book of the same name published in 2004. As such, the entire market space and industry structure can be redefined with business creativity. They are merely a collective representation of the beliefs and actions of the industry players. The strategy is based upon the idea that the structure of any industry and its market boundaries are not set in stone. It focuses on leaving the competition behind rather than trying to rise above it. The main aim of the Blue Ocean plan is to identify and capture uncontested business fields. It is the quest for novel solutions and low-cost measures that can create new market space and ensure lasting success for the enterprise. The Blue Ocean Strategy refers to the pursuit of innovation and differentiation. Implementing this strategy can provide you with the best chance for growth and profitability. Whether you are on the hunt for ideas for launching a disruptive startup or trying to take your existing business to new heights, it’s essential to know what the Blue Ocean Strategy is and how you can use it. It has only recently started gaining traction with the expansion of the entrepreneurial industry. However, for the majority of people, the Blue Ocean Strategy is usually unheard of.
Tech giants like Apple have long relied on this innovative marketing scheme to build their presence in the global marketplace. It was first introduced over fifteen years back. The Blue Ocean Strategy is a relatively old concept. The Blue Ocean Strategy is a growth-oriented model that businesses can use to create new demand and open up new market avenues all while avoiding the competition that prevails in their respective industry. Yet, two business leaders shattered this misconception with their innovative marketing strategy, called the Blue Ocean Strategy. The idea of ‘healthy competition’ is usually synonymous with growth, whether its sports, academics or a business place.
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