What are the Key Principles of Blue Ocean Strategy?
The Blue Ocean Strategy is grounded in several key principles:
Reconstruct Market Boundaries: Challenging the conventional wisdom and finding new market spaces. Focus on the Big Picture: Rather than getting bogged down by numbers, focus on the overall strategy. Reach Beyond Existing Demand: Tap into new customer segments by addressing non-customers. Get the Strategic Sequence Right: Ensure that the strategy aligns with the company's overall goals and offers a compelling value proposition.