Blue Ocean strategy

" Blue Ocean Strategy" sounds like a scoba diving or a fishing strategy to catch a big fish in competitive waters, doesn't it! Well, that was the first thought that crossed my mind when i first came across the term.
My curiosity to turn my belief into fact motivated me to search through reams of data in the biggest repository of the world- The internet. Much to my surpirse the blue ocean strategy has nothing to do with the art of fishing but instead it is about how companies devise strategies to fish for new and increased number of customers.
The blue ocean strategy came into being because most industry players continue to fight for a all already overcrowded market by persistently creating a comparative advantage largely by reducing the price of the product. This results in fierce competition between the players thereby leading to bloody battles between thereby giving rise to a Red ocean which is actually all around us. For example the mobile market in India is a pertinent example that fits the bill.
Then came two professors from Insead who shed light on a radical new concept that we have practiced throughout history but never spared a thought- The Blue Ocean Strategy. The essence of the Blue Ocean strategy lies in Value Innovation. Blue Ocean Strategy is about making the competition irrelevant by developing a new market altogeather. For example when Henry Ford launche the Model T there only other affordable mode of transport was the horse drawn carriage. Similarly when IBM came out with the first computer it created a new market altogeather.
Blue Ocean Strategy is the driving force behind the innovation campaigns being launched in various companies. Sticking to the mobile sector itself, various companies such as airtel, vodafone etc. are trying to come up with that one VAS for rural India that would change the basic purpose of having a mobile in India.
Many R&D centers are working round the clock to devise a new base element for the semiconductor industry, something much better than the currently in use MOSFET's . Such a startegy which would to such a an innovation of giant proportions would rightly be qunatified as a blue Ocean Strategy.