Blue Ocean Strategy is about creating new market space and making competition irrelevant. [1] A red ocean is the existing market space where competition is fierce as industry boundaries are defined. [2] A blue ocean denotes all industries not in existence, where demand is created rather than fought over, allowing for rapid growth. [3] Blue ocean strategy involves eliminating and reducing factors the industry takes for granted, while creating and raising new factors to open blue oceans and make the competition irrelevant.