what is blue ocean 
blue ocean is an entrepreneurship industry term created in 2005 to describe a new market with little competition or barriers standing in the way of innovators the term refers to the vast empty ocean of market options and opportunities that occur when a new or unknown industry or innovation appears 1the term blue ocean was coined by insead business school professors chan kim and renee mauborgne in their book blue ocean strategy how to create uncontested market space and make the competition irrelevant 2005 the authors define blue oceans as those markets associated with high potential profits 1