A model called the ‘Blue ocean strategy’, developed by Kim and Mauborgne, dictates that most organisations operate within one of two ‘oceans’ – a red ocean market or a blue ocean market.² In this concept, the ‘red ocean’ represents a space that all businesses currently occupy: there are defined boundaries and the rules of the market are known.

For example, the current pharmacy market is a red ocean. Companies try to outperform each other within this space and as it matures, the market becomes crowded and profits and growth reduce. Red ocean strategy models are generally geared towards doing better than the competition.

However, a ‘blue ocean’ is a new, untapped market space. To enter this, an organisation must create new products and/or services with no current competition to achieve enhanced growth. Blue oceans gradually evolve to red oceans.

Fifty years ago, mobile phone technology, the internet and pharmacy robotics did not exist, but as each of these new markets has developed and competition has increased, the ocean has become crowded.

Many believe that we must create a new space for pharmacy rather than continue to compete in the current space. This does not mean that pharmacy should ignore its current roles, but that it should consider new products and services that may not have been looked at before.