Blue Ocean Strategy
How to Create Uncontested Market Space and Make the Competition Irrelevant
Summary:
The book presents a strategic framework for creating new market spaces, termed "blue oceans," where competition is minimized by offering unique value to customers. It provides tools and methodologies, such as the Four Actions Framework and the Strategy Canvas, to systematically pursue differentiation and low cost, thereby opening up new demand and driving profitable growth.
Key points:
1. Value Innovation: This is the main idea of the Blue Ocean Strategy. It aims for differentiation and low cost, creating value for the company and customers. It makes competition irrelevant by increasing value for buyers.
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