The eight principles of blue ocean strategy

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Path 6: Look Across Time

For example, to sort out their personal finances, people can buy and install a financial software package, hire a CPA, or simply use pencil and paper. And nowadays there are also apps that help with this. The software, the CPA, the pencil and financial apps are largely substitutes for each other. They have very different forms but serve the same

Value innovation places equal emphasis on value and innovation. Value without innovation tends to focus on value creation on an incremental scale, something that improves value but is not sufficient to make you stand out in the marketplace.18 Innovation without value tends to be technology-driven, market pioneering, or futuristic, often shooting

Path 5: Look Across Functional or Emotional Appeal to Buyers

Path 1: Look Across Alternative Industries

We call it value innovation because instead of focusing on beating the competition, you focus on making the competition irrelevant by creating a leap in value for buyers and your company, thereby opening up new and uncontested market space.

Path 2: Look Across Strategic Groups within Industries