Conventional business models are geared towards operating in the traditional market space. The entrenched view of the marketplace is as one big space where all competitors fight with each other for a share. This creates a blood red ocean where few can survive, and most companies close operations, unable to compete.
The blue ocean, on the other hand, is small and tranquil. It might be smaller, but it is much less turbulent. If there is competition, the space is not as crowded and so there is more share for the players. This book concentrates on teaching the readers how to create these blue oceans. It shows them how to redefine the marketplace by being innovative in their ideas. It shows them how to successfully implement these ideas.
Blue oceans are created by companies that think differently. Instead of following the herd, they blaze their own trail. One of the examples cited in Blue Ocean Strategy: How To Create Uncontested Market Space And Make The Competition Irrelevant is the Cirque du Soleil. This company redefined the traditional circus