The Blue Ocean Strategy is a concept coined by W. Chan Kim and Renée Mauborgne in the 2005 book of the same name.
This innovative concept contrasts with the traditional red oceans markets where a number of companies fight bitterly every day to control a little bit more market share, usually through multi-million dollar marketing campaigns.
We’ll find that then The Blue Ocean strategy flees this fierce competition by being innovative in value creation in order to directly establish new markets or re-segment existing ones with the aim of reducing competition and achieving sustainable profitability. As we can see, it is a very attractive alternative that includes a commitment to innovation. You can expand the information with this session on blue oceans (starts at minute 2).
In the following video we can see how we use the Empathy Map, which allows us to put ourselves in the shoes of our clients, to work with the Blue Ocean strategy.
https://www.youtube.com/watch?v=Qxypx2-SIZo
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