What are the Characteristics Needed to Operate in a Blue Ocean Environment?
There are several distinct characteristics associated with companies who successfully operate in a Blue Ocean environment. The primary characteristics include recognizing new opportunities, attracting customers in large volume, and taking risks. Recognizing Opportunities Recognizing new opportunities is a vital component that Blue Ocean companies need to possess. Recognizing new opportunities can range from finding and developing markets where there is little or no competition to finding a niche in an unattractive market and exploiting it. Companies such as Netflix, Match.com, and NutriSystem serve as examples of Blue Ocean companies that recognized new market spaces. For instance, the founders of NutriSystem saw an opportunity to enter into the lucrative weight loss industry by developing meal plans that included selling and shipping pre-packaged foods to customers who wanted to lose weight but either lacked the knowledge or willpower to follow a diet or who were too embarrassed to vi
