Sales

How do you chart a blue ocean strategy graph? How do you determine whether your product is unique enough to classify as a “blue ocean”? Kim and Mauborgne present a graphic tool to help you visualize how your product (and the strategy behind it) differs from others in the market. If your curve has a completely different shape from other curves, this implies a unique combination of value, consistent with the blue ocean strategy.  Here is how to use the blue ocean strategy chart to gauge where your business stands against competitors.

How do you design a blue ocean product? What is the key to creating a product in a yet uncontested market? To begin brainstorming ideas for a blue ocean product offering, think of a product or service your company already sells, to use as a starting point. To help you come up with product ideas, Kim and Mauborgne explore some different approaches you can take to brainstorming.  Here are seven potential routes you could take to brainstorm a blue ocean product that sells.

What is value innovation? How do Kim and Mauborgne define “value innovation” in the context of blue ocean strategy? Value innovation is the cornerstone of Kim and Mauborgne’s blue ocean strategy. The authors clarify that blue ocean innovation is not a matter of merely raising or lowering value in order to raise or lower your costs. Instead, Kim and Mauborgne assert that you need a breakthrough that allows you to offer better value at a lower cost.  Keep reading to learn about the concept of blue ocean innovation (or “value innovation”) and how it creates blue oceans through new ideas