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Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant Posters
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Rating:  -
Interesting read. Good to Great a little easier to apply in my experience. Look out for red oceans - they are everywhere!
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Is it possible to find a book to be boring and interesting at the same time?
* In Blue Ocean Strategy, some sections of the book I found myself re-reading twice just to ensure I fully understood the author's intent.
* Other parts, I entirely skipped over due to extreme boredom.
* And in other sections, I fully embraced the content and couldn't get enough!
This very complex, hard-hitting, detailed book is perfect for business junkies who want to learn innovative strategic methods for increasing the efficiency and effectiveness of their business operations. If you are ready to THINK and ACT outside the box and take your business to another level, by differentiating your products and services and separating yourself from the competition, then this book is for you.
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"Blue Ocean" is a metaphor of uncontested market space that is reached by reconstructing market boundaries. The authors convincingly show how this impacts profit and growth, and why we should focus analysis on strategic moves as opposed to strategic companies.
Central to the theory is the "strategy canvas", in which you rate a company on a set of industry factors. You than tweak these to find uncontested market space. This demands some creativity, but basically you decide for each factor whether it will be reduced, eliminated, created, or raised.
There is a good set of convincing cases to support the point. By seeing how companies invented and exploited blue oceans you get an intuitive feel for potential in a market.
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To quickly tell the quality of this book, note that the authors immediately discredit themselves by including two key words in their subtitle: "uncontested" and "irrelevant". Social science research does not produce findings that justify such claims, so the authors are obviously extrapolating beyond any research they conducted and try to dupe non-academic popular book readers into thinking their research is solid. While you might think that the publisher created such subtitle against the authors will, you will actually find that the authors are deeply committed to their "blue ocean" ideology by using these words throughout the book.
The authors' assertion that blue ocean strategy (strategy that creates previously non-existent products or services that the customers actually want) delivers higher profits is simply not true. First of all, the authors are only studying successful businesses employing blue ocean strategy. For all we know, other businesses that used blue ocean strategy that the authors did not study failed, proving that blue ocean strategy had nothing to do with success of those businesses that the authors did study. Second of all, the authors miss the concept of "expected value". Competing in the red oceans (existing products that are commonplace) allows big companies to compute probability of success relatively easily, partly because the products' success and demand is already clearly observable in the marketplace. Therefore, contrary to the authors' claim, the red oceans have a big purpose that big companies should not ignore. Second of all, the authors claim that blue ocean products deliver higher profits is not substantiated. In many cases, new revolutionary products come with a higher cost of marketing, because the consumers may be confused by not being able to compare the new product against their existing choice set. However, the authors do not address this higher cost of "blue ocean strategies". Additionally, because blue ocean products are newer than existing "red ocean products", they probably have a higher rate of failure. Thus, while the maximum return from a "blue ocean strategy" might theoretically be higher vs. "red ocean strategy", on average, given higher failure rate and higher marketing costs, the EXPECTED VALUE to the organization from either blue or red ocean strategy might actually be the same.
If you want an unbiased, evidence-based overview of marketing strategy, you should buy Dr.Chernev's Strategic Marketing Analysis instead of this book.
Rating:  -
What can I say that has not been said about this book? Here is a more personal appreciation.
This is the first book I've read about branding and differentiation. The author is full of common sense but the
weird thing as that this type of common sense is not so common in business. Obviously this is not a step by
step guide to building a great business. There is no such thing. What you do get is a nice framework
to position your idea and see how you compare within your extended competitive landscape. Applying this
framework to your own idea might require more intuition than you think (otherwise creating the next best thing would be too simple) but the author uses many case studies as examples of how to use the framework.
Of course, he has the benefit of hindsight but that's no reason to dismiss the ideas. Great book and fun to read.
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