"The success of any new venture relies to a great extent on the various strategies that an entrepreneur experiments in positioning his company as well as the product in the market. Different organizations set out different strategies to reach out to potential customers. The term ‘Blue Ocean’ refers to the vast ‘empty ocean’ or the vast ‘opportunities’ that occur when a new product is launched in an unexplored or uncontested market space. It is an entrepreneurship industry term created in 2005 to describe a new market with little competition or barriers standing in the way of innovators. Blue ocean strategy is the simultaneous pursuit of differentiation and low cost, to open up a new market space and create new demand. It is about creating and capturing uncontested market space; thereby making the competition irrelevant. For example, the first company that used the blue ocean strategy is Netflix, a popular subscription-based streaming service. The presentation gives in-depth knowledge on blue ocean strategy in marketing. "

Vidya V

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