Ways in to the Text
W. Chan Kim and Renee Mauborgne coauthored the book Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant. Kim and Mauborgne's institutional affiliation helped shape the ideas introduced in Blue Ocean Strategy. In Blue Ocean Strategy, Kim and Mauborgne pioneer a new strategy for innovation in so-called "red-ocean" market conditions—that is, overly saturated markets where too much competition leads to a glut of supply and weak demand. Blue Ocean Strategy was written at a time when globalization and technological innovation had produced highly integrated world markets, resulting in many companies facing rich competition for customers. The book deals with how companies can identify these blue oceans to create unique products. In economics, competition refers to the rivalry among sellers trying to increase profits, market share, and sales volume by varying the elements of the marketing mix—in terms of price, product, distribution, and promotion.