Define blue ocean strategy ,are you a blue ocean strategist,is your company employing blue ocean strategy,what is red ocean strategy?

RED OCEAN STRATEGY

Compete in existing market space

Beat the competition

Focus on existing customers

Exploit existing demand

Make the value-cost tradeoff

(create greater value to customers at a higher cost or create reasonable value at a lower cost)

Align the whole system of a firm’s activities with its strategic choice of differentiation or low cost

BLUE OCEAN STRATEGY

Create uncontested market space

Make the competition irrelevant

Focus on non-customers

Create and capture new demand

Break the value-cost tradeoff

(Seek greater value to customers and low cost simultaneously)

Align the whole system of a firm’s activities in pursuit of differentiation and low cost.