In other words, it was a gradual improvement in the existing market, such as the introduction of another product line. In a survey of more than 100 start-ups, Harvard scientists Kim and Mauborgne found that 86% of the companies classified as start-ups were effectively competing on the market. With nearly 80% of the profits from the two “old” business lines Windows and Office, Microsoft has an enormous risk of losing its market share due to a lack of innovations in recent years. Over the same period, Microsoft’s stock market value rose by just 3%. What is impressive is that since the launch of the iPod in 2001, Apple’s market capitalization on the NASDAQ (Technology Exchange in the US) has more than 75 times increased by the end of 2014. Over the past 15 years, Apple has introduced a large number of successful, innovative products such as the iPod, iTunes, the iPhone, the App Store and the iPad. A good example is the US tech giants Apple and Microsoft. The profits generated in the event of (new) market creation are enormous for companies.
It will increasingly depend on the ability of companies to generate “new demand” and create and conquer “new markets” (“Blue Oceans”). But long-term corporate success cannot be achieved through competitiveness alone. To reverse the current status quo, they must be consistently innovative in the development and implementation of their competitive strategies. Corporate managers in almost all industries are therefore facing major challenges in the future. In today’s competition between companies, market power has shifted from suppliers to consumers and global competition is becoming fiercer. Value innovation places equal emphasis on value.” We call it to value innovation because instead of focusing on beating the competition, you focus on making the competition irrelevant by creating a leap in value for buyers and your company, thereby opening up new and uncontested market space. “Value innovation is the cornerstone of blue ocean strategy.
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