The Blue Ocean Strategy is currently the hottest marketing trend over the last two years. Two top professors of Insead, a prestigious school in Europe, were the ones behind the idea.
The strategy is based from the book written by W. Chan Kim and Renee Mauborgne in 1995 entitled: "Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant". The book has won several international recognition from the business community.
The basic concept of the Blue Ocean Strategy is that businesses should not directly compete with others, but instead create a different market (a blue ocean) to make competition or other market players irrelevant.
That is like finding the hole in a dough of opportunities. Businesses should take some calculated risks, and explore the market very well with an objective to find an unserved market that no one wanted to serve or an untapped market that has never been tapped yet.
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