Introduction Blue Ocean Strategy refers to a development strategy framework in marketing aspects. This framework is based on the concept of establishing an overt market place termed as “Blue Ocean”. The core principles in this concept happen to challenge the traditional business strategies of dealing with competitors. This concept emanated from a value innovation framework that was established by Capgemini Consulting in 1990 (McVea, 2010). According to McVea, the approach in blue ocean strategy borrows is based on innovative thinking, creativity, future prediction and planning. The approach requires that investors shun conventional practices with regard to competition, benchmarking or copying practices that seem to be effective. Rather, this approach requires that investors turn their focus to their clients and ask themselves “what have the customers not seen? What has not been done to them? What can we do to them that is different from others?
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Marketing: Blue Ocean Strategy Custom Essay
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