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Blue Ocean or Fast-Second Innovation? A Four-Breakthrough Model to Explain Successful Market Domination

In: Digital Disruptive Innovation

Author

Listed:
  • Bernard Buisson
  • Philippe Silberzahn

Abstract

Innovation is widely recognized as a major driver of long-term corporate growth. Successful innovators who manage to dominate new markets enjoy Schumpeterian rents for their inventions. How then can a firm dominate a new market? Two streams of literature have proposed opposite answers to this question.The First Mover approach indicates that by setting up a strong differentiation strategy, companies are supposed to create a new area where profits abound. This approach is supported especially by Kim and Mauborgne (2004) who coined the term Blue Ocean to describe it.The Fast Second approach, defended by Markides and Geroski (2005), contends, on the contrary, that companies should not try to become pioneers, but should target the newly created market in second position, and colonize it.But neither Blue Ocean nor Fast Second are able to convincingly explain successful market domination. Our study of 24 innovation cases suggests that innovation which leads to market domination is instead achieved by using four kinds of breakthroughs, separately of simultaneously.

Suggested Citation

  • Bernard Buisson & Philippe Silberzahn, 2019. "Blue Ocean or Fast-Second Innovation? A Four-Breakthrough Model to Explain Successful Market Domination," World Scientific Book Chapters, in: Joe Tidd (ed.), Digital Disruptive Innovation, chapter 2, pages 25-48, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9781786347602_0002
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    More about this item

    Keywords

    Innovation; Digital Innovation; Disruptive Technologies; Digital Disruption Strategies; Digital Business Model Innovation; Digital Platform Innovation;
    All these keywords.

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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