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Blue ocean strategy.

W Chan Kim1, Renée Mauborgne

  • 1Insead, Fontainebleau, France. chan.kim@insead.edu

Harvard Business Review
|November 24, 2004
PubMed
Summary
This summary is machine-generated.

Cirque du Soleil achieved significant revenue growth by creating a "blue ocean" strategy, which involves developing uncontested market space rather than competing in existing "red oceans." This strategic move made competition irrelevant and created new demand.

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Area of Science:

  • Business Strategy
  • Market Innovation

Background:

  • The circus industry has faced a long-term decline.
  • Existing industries often become "red oceans" characterized by intense competition and diminishing returns.

Purpose of the Study:

  • To analyze how companies create uncontested market space, termed "blue oceans."
  • To identify the key factors and strategic moves behind successful blue ocean creation.

Main Methods:

  • Analysis of over 150 blue ocean creations across 30 industries.
  • Focus on "strategic moves" as the primary unit of analysis, rather than traditional company or industry analysis.

Main Results:

  • Cirque du Soleil's successful revenue increase through blue ocean strategy.

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  • Blue oceans are created by developing new market spaces where competition is irrelevant.
  • Strategic moves can build lasting brand equity.

    • Conclusions:

    • Creating blue oceans offers opportunities for profitable and rapid growth.
    • Expanding existing industry boundaries is a common method for blue ocean creation.
    • The strategic move is a critical concept for understanding market creation.