A book namely Blue Ocean Strategy, written by W. Chan Kim and Renée Mauborgne, came out of publication in 2005 and added a new dimension to strategy-structure of business-world. Businesses don’t need to tackle competitors, they can create own space of demands in the market. This new unchallenged market-space carved on the better or different quality of products or services had been termed by the writers as Blue Ocean.
Blue Ocean as an effective strategic approach gained currency with time. Every business has its core in demand and Blue Ocean as a concept revolves around triggering new demands in and from prospective clients and making the market-competition immaterial. A company generating its own market with its unique products or services gets instantly recognized and more valued. Its systematic business-strategy which keeps innovation and upgrading in the centre to surge ahead is encapsulated in the term Blue Ocean. That’s why this strategy bears huge potential of sustained profits.
Innovation-fuelled plans almost enable companies to spread out without contest and business-related competition in unchartered territories. According to the writers, Ford and Apple have been two exemplary companies that carved their own markets, Blue Oceans, by adopting and infusing demarcation and uniqueness in their products at a low cost. And they grew almost without any competition.
Blue Ocean was revised as a strategy in 2015 by the authors, but the essential ingredients remained intact.