This book argues that instead of joining the crowd of similar products and competing on price, companies should focus on value innovation, by identifying the factors that the industry competes on and changing its value proposition - flipping factors to serve non-core customers (e.g. wine connoisseurs may appreciate wine complexity, but novices might not), and even introducing new factors (e.g. ease of choice of wine). They demonstrate how to draw a strategy canvas for the industry.

The book then goes on to how to go about creating a new market, looking across alternative industries, for example, but most of all looking at non-customers and identifying factors they might appreciate. For example, many people are put off by the difficulty of hitting a ball in golf, but by producing an extra-large club, more might be drawn into the game.

There is a guide to pricing, and then a rather odd chapter on "overcoming key organizational hurdles". This is actually a guide to changing strategy in general, not just going from red oceans to blue oceans. In any case, the main takeaway here is to be transparent and inclusive in getting employees on board.

Overall, a thought-provoking book that will make you think hard about how to differentiate your product/service from the rest of the pack. (read less)