Glossary: Blue Ocean Strategy

Explanation: A method of escaping competitive 'red oceans' by creating uncontested 'blue ocean' market space.

How big companies use it: Cirque du Soleil reinvented circus entertainment. Starbucks created the 'third place' experience, not just coffee.

Differences for SMBs: SMBs can’t always afford massive innovation, but they can carve niches like 'yoga for pregnant women.'

Best approach for SMBs: Use the Four Actions test: eliminate, reduce, raise, create. Look for micro-blue oceans in your market.

Next connected terms: Niche Marketing, Value Proposition, BCG Matrix.

Quick Exercise: List 2–3 ways you could make your offer different from competitors in your town.