Blue Ocean Strategy and marketing Icelandic fish

The aim of the thesis is to explore if practice of Blue Ocean Strategy, through value innovation, or certain tools and framework of the strategy can be useful for Icelandic fish marketing companies. Blue Ocean Strategy is an innovative strategy that pushes companies to look beyond conventional boundaries of an industry and discover new market space through value innovation and consequently make competition irrelevant. Data was gathered through qualitative research methods, interviews as well as secondary data from a wide range of sources from early 2011 to 2012. The main focus is to gain insight into the industry of fish marketers and draw the value curves of the companies interviewed and discuss how the analytical tools and framework of Blue Ocean Strategy can be applied. The research findings indicate that the industry is highly competitive; battling in red oceans and the components of Blue Ocean Strategy would be very useful in order to break out of the conventional knowhow and creating more value for both buyers and companies. For a company to fully exploit and implement the Blue Ocean Strategy would be an innovative strategic move and not all companies would be ready for such radical changes. However certain analytical tools and frameworks, such as the Strategy Canvas and Four Actions Framework, would be very useful for any business as well as for the Icelandic fish industry to visually map its current competitive factors and create a future strategy