Blue Ocean Strategy is a powerful framework for finding new business opportunities. But it’s not always clear how to create a blue ocean strategy for yourself. We’ll cover 15+ Blue Ocean Strategy examples so you can figure out how to create your own blue ocean.
Blue Ocean Strategy ends with ten Red Ocean Traps that can deter you from creating blue oceans or that jeopardize your execution. These will be phrased as myths that are then debunked:
What is the Pioneer-Migrator-Settler Map? What does it mean for your business and Blue Ocean Strategy? Learn how you should have projects in each stage of the lifecycle, from pioneers to migrators to setller projects.
Cirque du Soleil is one of the key examples given in Blue Ocean Strategy. How did a circus performer create a blue ocean outside of the red ocean of circuses, and create an incredibly valuable company? Learn more about Cirque du Soleil’s Blue Ocean Strategy here.
The Strategy Canvas is an important analytical tool from Blue Ocean Strategy. How do you use it in your business strategy to illustrate how your company differs? Learn more about the Strategy Canvas here.
How did Yellow Tail Wines use the blue ocean strategy to become a market leader in the ultra-competitive wine industry? Learn how Yellow Tail built a unique strategy canvas and used the eliminate/reduce/raise/create actions to build a truly unique wine.
What is Blue Ocean Strategy? Learn the definition of blue ocean strategy and the meaning of creating blue oceans here.
How does the Four Actions Framework help you build your Blue Ocean Strategy? Learn the Eliminate-Reduce-Raise-Create grid here.
Now that you’ve figured out an offering that offers superior utility to the customer, you need to figure out how to price it. How much should you charge for your blue ocean strategy product?
Blue Ocean Strategy recommends using the price corridor, a way to maximize the success of your strategy. What is a price corridor, and how does it depend on your business? Learn more here.
Much of business strategy in the past few decades has focused on competition, including Michael Porter’s five forces and SWOT analysis. In these red oceans, market structures are known, and companies try to outperform rivals to grab share of existing demand.
Over time, markets become crowded, products become commodities competing on price, and profits dissipate. This trend is aggravated by technological improvements that allow incredible creation of supply that can outstrip demand, causing further price competition.