By combining elements of theater and circus, they created a blue ocean that appealed to adults and corporate clients, commanding premium ticket prices. This involves carving out a novel market area that has not yet been explored, thereby allowing companies to pursue value innovation where demand is created rather than fought over.
What Is Blue Ocean Strategy Basics: Understanding Value Innovation
Instead of choosing between being the lowest cost provider or the most differentiated player, companies break the trade-off by redefining the industry’s strategic focus. The strategic challenge lies in moving to create a second blue ocean, or a third, ensuring the organization is always a creator of new space rather than a prisoner of the old.
This visualization reveals painful gaps and opportunities for a leap in value that competitors are not addressing. Cirque du Soleil, for instance, did not compete in the red ocean of traditional circuses that fought for the same audience and performers.
What Is Blue Ocean Strategy Basics
The term was popularized by the groundbreaking book "Blue Ocean Strategy" by W. Eliminate factors that the industry takes for granted but do not add value.
More About What is blue ocean
Looking at What is blue ocean from another angle can help expand the discussion and give readers a second clear paragraph under the same section.
More perspective on What is blue ocean can make the topic easier to follow by connecting earlier points with a few simple takeaways.
