DBAD.2018.029

Creating Uncontested Market Space by Making Competition Irrelevant

Aram H. Massoudi

aram.massoudi@cihanuniversity.edu.iq

Abstract- This seminar focuses on Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant , is a market space that is undeveloped, and untapped by competitors. Blue Ocean Strategy proposes that businesses can have more success by creating a blue ocean, rather than trying to compete in the red ocean – the traditional market space that is filled with feuding competitors. The key insights of the seminar are:

1. Don’t try to outperform competitors.

2. Create a new market space to make competitors irrelevant.

3. Value innovation is the key to creating a blue ocean strategy

4. Value innovation simultaneously pursues low cost, and differentiation.

Keywords- Blue ocean strategy, red ocean strategy, visualisation strategy, path to blue ocean strategy.

Date: 14/05/2018

Place: Department of Business Administration