One popular technique for competing in the marketplace is to identify blue oceans. The concept of blue oceans was introduced in 2005 with the very
successful book, Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant, written by Kim Chan and Renee Mauborgne. The text is available in the PG Library. Read the article, "Application of the Ocean Blue Strategy in the Ukrainian Wine making Industry" (Didukh & Aiun, 2019). After reading the article, respond to the following questions:

• How would you describe the concepts of the blue ocean strategy?
• What steps are involved in identifying blue oceans?
• How would you apply a blue ocean strategy to a similar industry like beer or
soda?

Answer rating: 100% (QA)

1 Concepts of Blue Ocean Strategy The Blue Ocean Strategy is a strategic approach that focuses on creating uncontested market space and making the competition irrelevant The concept suggests that rath... View the full answer