|Blue ocean strategy is straight-forward: there are blue oceans & red oceans in business strategy. It comes from the Blue Ocean Strategy book.
The Red Ocean plan is about competition. Businesses fight for a larger share of limited demand as the market becomes more crowded. The blue ocean strategy creates unique demand — instead of competing for a decreasing profit pool, businesses build uncontested market space. Using a blue ocean strategy in 2021 will make your business grow.
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Red Ocean Strategy
To put it another way: red oceans offer too much competition & entering the fray means less profit, more work, and a lower chance of succeeding. This is a zero sum game.
Blue Ocean Strategy
A blue ocean strategy has little or no competition, leaving you free to tap into an audience that’s defined by you. This is a growth strategy.
It comes from the Blue Ocean Strategy book by Renée Mauborgne and W. Chan Kim. They write on their website that "Cut-throat competition in existing industries turns the ocean bloody red. Hence the term ‘red ocean.‘ Unexplored and untainted by competition, ‘blue oceans’ are vast, deep and powerful in terms of opportunity and growth."
Blue Ocean Marketing Strategy
Shape the conditions of your outcome by being distinctive
Don't compete, differentiate
Find new customers that your competition isn't pursuing
By not competing, you cut down expenses
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We can find countless examples of red ocean marketing on social media and paid ads through Google and Facebook, they all look similar and also seem to be conforming to an aesthetic, idea and offering that are all parallel to each other.
Make your competition irrelevant & grow your business the right way with a shift to a Blue Ocean strategy in 2021. Read the Flux guide on how to start an online business if you want to apply Blue Ocean Strategy to a side hustle of online business.