I recently came up with this word “Value Innovation” from a book “Blue Ocean Strategy” written by W.Chan Kim and Renee Mauborgne.
This book divides the market space into two parts, namely, Red Ocean and Blue Ocean. The Red Ocean is the market space we all are familiar to, where the competition exist. It is where the boundaries are defined and the companies try to outperform their rivals.
Blue Ocean is the new type of market space where the competition is irrelevant and consists of untapped market space, demand creation and the opportunity for high profit and sustainable growth.
So how to get into Blue Ocean market space?
Rest is in Next Article.