Blue Ocean Strategy companies consciously sidestep their competitors and focus their activities on creating new, profitable markets with no competition. They systematically think outside the box and specifically develop integrated innovations to gain completely new growth potentials. This enables Blue Ocean Strategy companies to access so-called non-customers with new offerings.
Blue Ocean Strategy companies do not decide between higher quality or lower cost. They combine these apparent contradictions in newly-developed offerings. On the one hand Blue Ocean Strategy companies create new benefits that appeal to non-customers. On the other hand however they avoid expensive features – largely irrelevant to the buying decision of their new customer group –to deliberately reduce costs. Blue Ocean Strategy companies thereby make their former competitors irrelevant and lay the foundations for strong, profitable growth.