The term Blue Ocean Strategy is particularly relevant in the areas of digital disruption, digital transformation, eCommerce and digital commerce. This strategy describes an approach in which companies deliberately create new markets instead of competing in existing markets with many competitors - so-called "red oceans".
The Blue Ocean Strategy focuses on developing innovative products or services that have never existed before. This creates completely new customer groups and competitors no longer play a direct role. The aim is to stand out from the market with creative ideas and open up your own "blue ocean" full of opportunities.
An illustrative example: When Apple launched the iPhone, there were already mobile phones on the market, but none that combined music player, internet and telephone in one. With this unique offering, Apple entered a "blue ocean" and created a completely new market - while many traditional mobile phone manufacturers were still struggling in the "red ocean".
The Blue Ocean Strategy helps companies to rethink the old, recognise opportunities and clearly differentiate themselves from the competition.
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