![]() ![]() Other scenarios include a situation where the entry barriers are insurmountable, making it impossible to gain a foothold. With too many players, sometimes the supply exceeds the demand, and unless you have the wherewithal to take on the competition, you cannot survive. With so many players in the red ocean, all businesses jostle for space and the users’ attention. So let’s understand how the blue ocean strategy can be beneficial. ![]() From the point of view of the red ocean strategy followers, it may sound somewhat strange. ![]() Why should anyone think of pursuing a blue ocean strategy? Especially when there are so many businesses based on the red ocean strategy, which they follow meticulously based on templates and step-by-step guides. Innovation with a definite sense of purpose Why You Should Adopt the Blue Ocean Strategy?.Aligns the business’ activities in pursuing differentiation and low cost.There is no competition, simply because there are no competitors.Focusing on creating uncontested market space.Setting up shop in a new, unknown market.Here are a few characteristics of the strategy: ![]() The authors studied 150 strategic moves across multiple industries, spanning a period of 100 years. The book was updated and expanded with fresh content in 2015. An iconic and impactful book, it was published worldwide in over 40 languages and sold over four million copies. The marketing strategy can be traced to a book by the same name, which was published in 2005. Do not compete.” The color blue signifies the vast ocean with no one around.Īwareness about the blue ocean strategy is slowly increasing, as the concept is being adopted by new businesses. The blue ocean strategy revolves around operating without competitors, and although it appears to be one, it is no monopoly. The blue ocean strategy is the opposite, and focuses on treading uncharted territory as far as your business is concerned. Trying to grow in a highly competitive atmosphere (which is what the red ocean strategy is all about) may not always be beneficial. The blue ocean strategy is a distinct approach that focuses on shifting from competing to creating new openings. Working on some new idea or strategy is not only exciting and thrilling, but it can also be gainful if you follow proper guides or templates. Treading the beaten path need not always lead to success. The blue ocean strategy is an unconventional business model, which helps companies in non-competitive environments. ![]()
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