Blue Ocean vs Red Ocean Strategy

Red Ocean Strategy	Blue Ocean Strategy
Compete in existing market space.	Create uncontested market space.
Beat the competition.	Make the competition irrelevant.
Exploit existing demand.	Create and capture new demand.
Make the value-cost trade-off.	Break the value-cost trade-off.
Align the whole system of a firm’s activities with its strategic choice of differentiation or low cost.	Align the whole system of a firm’s activities in pursuit of differentiation and low cost.

Blue Ocean Strategy

Blue Ocean Strategy is a business strategy book first published in 2005 and written by W. Chan Kim and Renée Mauborgne of The Blue Ocean Strategy Institute at INSEAD. The book illustrates what the authors believe is the high growth and profits an organization can generate by creating new demand in an uncontested market space, or a "Blue Ocean", than by competing head-to-head with other suppliers for known customers in an existing industry.

Blue Ocean Strategy vs Competition based strategies

Kim and Mauborgne argue that while traditional competition-based strategies (red ocean strategies) are necessary, they are not sufficient to sustain high performance. Companies need to go beyond competing. To seize new profit and growth opportunities they also need to create blue oceans.[5]

What is The Strategy?

Strategy is the one of steps we have to prepare before make a war. The strategy is important to make the business obtain their business objectives.
According Applegate in his book, "Corporate Information Strategy and Management", says that the Strategy is a series of choices that determine the opportunities you pursue and the market potential of those opportunities.
Dimensions that we consider to define strategy is :

• Market positioning
• Product positioning
• Business network positioning, and
• Boundary positioning

Potter says that a competitive strategy is about different. It is about deliberately choosing a different position and set of activities that enable you to deliver unique value.

So, which the strategy suitable to your company? It depend on your internal strengths and external factors that build your business. Also you can consider your weakness and threat that may disturb your business activity.