Businesses that are unique in their own way, and learn to be different from other competing businesses and become successful and careful with their profit and products.
Examples:
Apple - introduces new products every year that other competing companies are still trying to live up to.
Tasimo - first product that makes instant coffee with a simple bar code scan and makes the coffee right on the spot.
Nintendo Wii - the first interactive video game that gives humans more control over the game with motion and body movements with the game control.
Red Ocean
Businesses that compete in existing markets and already work on existing demand instead of thinking above the expected.
Examples:
Playstation 3: This video game console only follows the big names, and doesn't come up with anything but replicas of the big products of other businesses.
Skin ID: This business is only following into the steps of Proactiv, by same tv advertisements and offering similar products.
6 Principles of Blue Ocean Strategy
1. Reconstruct Market Boundaries
2. Focus on the big picture, not the numbers
3. Reach beyond existing commant
4. Get the strategic sequence right
5. Overcome Key Organizational Hurdles
6. Build execution into strategy
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