Blue Ocean Strategy

A business approach of creating entirely new market space, where competition is irrelevant, rather than competing in existing, crowded markets (red oceans).

Blue ocean thinking asks "what if we could eliminate the trade-offs customers currently accept?" Companies that create new categories often dominate them before competitors catch up.

Cirque du Soleil created a blue ocean between traditional circus (cheap, low value) and theatre (expensive, high culture). It eliminated animals and multiple rings, and added theatrical storytelling.