By Surpriya Garg & Jith Rabindranath
A blue ocean represents all industries not in existence today, as an unknown market space, untainted by competition. In Blue Ocean Strategy, demand is created, rather than fought over. There is ample opportunity for growth that is both profitable and rapid. There are two ways to explore a blue ocean.
In a few cases, companies can give rise to completely new industries, as eBay did with the online auction industry. However, in most cases, a Blue Ocean Strategy is created from within a red ocean, where a company alters its boundaries within an existing industry.