Blue Ocean Strategy

Stephanie Zahorchak

MKT 421

April 13, 2015

Catherine Lovett

Blue Ocean Strategy

The blue ocean strategy is used in marketing and can be thought of as as unique approach by businesses to build a new customer base. Instead of businesses trying to compete in a crowded marketplace with existing companies, a blue ocean strategy looks to build a brand new market segment that has no other existing firms. With the rapid growth of technology and the use of globalization, the importance of blue ocean strategy has grown tremendously in the past several years. This essay will analyze the blue ocean strategy and offer some suggestions on how it can be used in the modern business environment.

What is blue ocean strategy?

In an ideal world, businesses would be in a league of...