Market creation is about differentiation and low cost at any price point in the marketplace. Cirque du Soleil, Ralph Lauren created a whole new blue ocean at the high end by taking the best of Oat Coater using fine materials. The details might have been touched by hand in the very higher price point, but most of it was done lower cost of the factory.
Blue ocean strategy is a landmark business idea, but its co-creator, Renée Mauborgne, says it’s not a guaranteed win. She discusses what specifically can go wrong when you try to implement blue ocean strategy, including the common traps managers fall into.