![]() ![]() One does not, however, have to discover a pure ‘blue ocean’ to be able to borrow from this brilliant concept. Examples of blue ocean firms tend to be innovators of their time such as Uber, Airbnb, Netflix, etc. Chan Kim and Renee Mauborgne in their book Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant (2005).Ī blue ocean is considered (from a marketing standpoint) a yet unexplored or uncontested market space. The term "blue ocean" was coined by business school professors W. It is getting harder to stand out as a business and sometimes the best approach in a scenario like this, is applying learnings from the Blue Ocean Strategy.īlue ocean is an entrepreneurship industry term created in 2005 to describe the vast "empty ocean" of market options and opportunities that occur when a new unknown industry or innovation appears. ![]() In a time when consumers are almost struggling to make the right decisions due to having so many options available. A wise man once said, “Do not go where the path may lead, go instead where there is no path and leave a trail.” There are no wrong turns with the road less traveled, and this of course could work in your favor. ![]()
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