La estrategia del océano azul

01What's the Blue Ocean Strategy all about?

Ever felt like you're constantly battling for a parking spot in a crowded lot, only to find all the spaces taken? That's what it feels like to compete in a saturated market, or what W. Chan Kim and Renée Mauborgne refer to as a 'Red Ocean' in their book "La estrategia del océano azul: Crear nuevos espacios de mercado donde la competencia sea irrelevante". Now, imagine a newly built parking lot, spacious and empty, where you can park anywhere you want. That's the 'Blue Ocean' - a market space so new and different that there's no competition. The difference between the two is stark. In the Red Ocean, you're constantly fighting for a share of the market, while in the Blue Ocean, you create your own market space, making competition irrelevant. So, what's the big deal about creating new market spaces? Well, the Blue Ocean Strategy isn't just about avoiding competition. It's about making competition irrelevant by creating a leap in value for both the company and its customers. This is achieved by breaking the value-cost trade-off, which means offering innovative products or services at a lower cost. Let's say you're a company that sells smartphones. In a Red Ocean, you'd be competing with other companies on features, price, and brand reputation. But in a Blue Ocean, you'd create a new market space. Maybe you develop a smartphone that also functions as a portable health monitor, appealing to health-conscious consumers. You're no longer just a smartphone company; you've created a new market space and made your competition irrelevant. This strategy doesn't just reduce competition; it can also increase your customer base and profits. By offering something unique and valuable, you attract customers who were previously non-customers. And because you're not competing on price, you can maintain healthy profit margins. Innovation and value creation are at the heart of the Blue Ocean Strategy. It's not about doing the same thing better, but about doing something completely different. It's about creating a new market space that's so compelling, customers can't help but flock to it. Take Cirque du Soleil, for example. They successfully implemented the Blue Ocean Strategy by creating a new market space that combined elements of the circus and theater. They eliminated costly features of traditional circuses, like animal shows, and added unique elements, like artistic performances and original music. As a result, they attracted a whole new group of customers who were willing to pay a premium for this unique experience. In conclusion, the Blue Ocean Strategy is about creating new market spaces, making competition irrelevant, and achieving high growth. It's a powerful approach that can transform industries and redefine market boundaries. So, next time you find yourself battling for a parking spot in a crowded lot, remember the Blue Ocean Strategy. There might just be a spacious, empty lot waiting for you to discover.