What is blue ocean strategy?

What is blue ocean strategy?

• in marketing we have the blue ocean strategy (BOC) , could someone please advice what exactly stand for and some clarifcation about it. regards manwel

• Answer:

  Great book, but doesn't offer a ton of new insight. What it basically describes is that in order to be successful with a product, you have to occupy a space that no one does, which is marketing 101. Right now, products normally enter a "red ocean" with tons of like products that have no real differentiation. The key is to create a new category so you're the only one in a "blue ocean". A great example of this is Cirque Du Soleil. Its not quite the circus, and its not quite a Broadway play. They have differentiated themselves by creating a product in an entirely new category. Another example is Red Bull, who did this with the energy drink, and is now #1 in that category. It's all about taking an existing space and tweaking it to make an entirely new product category, which you are first to occupy. A difficult task for most, but can be extremely profitable when done the right way.