Definition
An untapped market space with little to no competition, as opposed to 'red ocean' markets soaked in competitor blood. The mythical promised land every marketer claims they've discovered.
Example Usage
They pivoted to B2B SaaS for alpaca farmers, claiming it's a blue ocean opportunity with zero competition and definitely not because nobody wants it.
Origin
From the 2005 book 'Blue Ocean Strategy' by W. Chan Kim and Renée Mauborgne
Fun Fact
The blue ocean metaphor represents unexplored market spaces, while red oceans are bloody from competitive fighting over the same customers.
Source: Strategic marketing and business strategy literature
Related Terms
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See “blue ocean” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.
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