Companies must avoid getting trapped in the Red Ocean of competition from "summary" of Blue Ocean Strategy, Expanded Edition by W. Chan Kim,Renée A. Mauborgne
The concept of companies avoiding the Red Ocean of competition is crucial in today's business landscape. In the Red Ocean, companies compete head-to-head within existing market boundaries, fighting for a share of the same customer base. This intense competition often leads to a bloody battle over limited demand, resulting in declining profits and commoditization of products or services. To break away from this vicious cycle, companies need to shift their focus to creating Blue Oceans of uncontested market space. Blue Oceans represent untapped market opportunities where competition is irrelevant because companies are creating and capturing new demand. By innovating and offering unique value propositions, companies can attract new customers and set their own...
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