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Value innovation is the cornerstone of blue ocean strategy. We call it 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.

— W. Chan Kim

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The only way to beat the competition is to stop trying to beat the competition.

Value innovation requires companies to orient the whole system toward achieving a leap in value for both buyers. The simultaneous pursuit of differentiation and low cost.

Struggling to stay ahead of your rivals? No need. Instead of trying to match or beat them on cost or quality, make the other players irrelevant--by staking out new market space where competitors haven't ventured.

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Quote text and notes from Wikiquote: W. Chan Kim (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.