**3. Literature review**

#### **3.1 Blue Ocean Strategy**

BOS is focused on "creating uncontested market space and make competition irrelevant". Profitable and continued growth has been the objective of straight on rivalry by firms. In today's packed industries, contending head-to-head results in a bloody "red sea" of opponents battling over a shrinking profit pool, improbable to make gainful development later on. The creation of "Blue Oceans" is the key to conquer tomorrow's victory [4].

Such strategic moves, called "value innovation", create incentives in value for both the company and its consumers, releasing new demand and rendering rivalry insignificant. The "Four Actions Framework" used for creating brand new value propositions consists of the following: 'Deleting' factors that aged in competition and are taken for granted by clients; 'lessening' products or services that have been overdesigned in the race to beat the opposition, which the clients don't appreciate; raising by deleting the understandings one's industry forces clients to make by

setting new guidelines well above contenders; originating through the discovery of the latest sources of value for customers, therefore originating new demand and strategic price shifts.
