INSEAD is a prestigious graduate business school in Fontainebleau, France. The authors were co-directors of the INSEAD Blue Ocean Strategy Institute. “The authors argue that lasting success comes not from battling competitors but from creating ‘blue oceans’ – untapped new market spaces ripe for growth.”Ī Blue Ocean Strategy, if you carry it out successfully, can create brand equity that lasts for decades. Regarding Blue Ocean Strategy and the authors of the book, writes: They believed that competing in a saturated market was a bad choice. In their 2005 publication, the authors stated that companies were better off exploring new markets. Chan Kim and Renee Mauborgne introduced the strategy in their book ‘Blue Ocean Strategy: How to Create Uncontested Market Space and the Make Competition Irrelevant.” Put simply the strategy involves getting out of a fiercely competitive, saturated market and into ‘virgin territory.’
Specifically, these new markets give a company a very high competitive advantage as well as low price/cost pressure. The strategy focuses on moving away from an existing market and seaching for new markets. Blue Ocean Strategy is a marketing theory in which a business enters a market that has little or no competition.
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