Blue Ocean Strategy Action #4: Create

Yesterday we discussed the third Blue Ocean Strategy action, Reduce. Continuing in our series, today we focus on the final action:

Blue Ocean Strategy Action #4: Create new sources of value that the industry has never offered.
Cirque du Soleil created a refined environment, multiple productions, artistic music, dance, and pageantry, thus appealing to a whole new, massive group of customers—adults and corporate clients prepared to pay a price that is several times that of traditional circuses for an unprecedented entertainment experience.

By tapping into this new Blue Ocean marketspace, Cirque managed not only to create a whole new brand of live entertainment, but also to become one of the most recognized global brands in the world.

You can read more about the Cirque’s Blue Ocean Strategy journey in the Blue Ocean Strategy book itself, or in this article from Fast Company Magazine, as a way of inspiring you to take the four actions to turn your business blue.