oter

Red Ocean markets are crowded, whereas Blue Oceans are untapped from "summary" of Blue Ocean Strategy, Expanded Edition by W. Chan Kim,Renée A. Mauborgne

Red oceans are known for their cutthroat competition, where companies fight for a share of existing market space. The market boundaries are defined, and the rules of the game are well understood by all players. As a result, competition becomes fierce, leading to a bloody "red ocean" of rivals fighting for the same customers and trying to outperform one another. In such markets, companies often engage in price wars, diminishing their profit margins and eroding their value proposition to customers. On the other hand, blue oceans represent markets that are unexplored and untapped. These are areas where demand is created rather than fought over. In blue oceans, companies have the opportunity to create new market space by offering innovative products or services that open up new customer segments. By focusing on differentiation and value innovation, companies ...
    Read More
    Continue reading the Microbook on the Oter App. You can also listen to the highlights by choosing micro or macro audio option on the app. Download now to keep learning!
    Similar Posts
    Economics is the study of how society manages its resources
    Economics is the study of how society manages its resources
    Economics is all about how a society decides to use what it has. This includes everything from money and factories to natural r...
    Historical performance may indicate future success
    Historical performance may indicate future success
    As investment analysts, our primary task is to evaluate securities based on their potential for future success. While it is tru...
    Competitive advantage comes from uniqueness, not sameness
    Competitive advantage comes from uniqueness, not sameness
    Competitive advantage is not attained by simply imitating or replicating what others are doing. Rather, it is achieved through ...
    Bad strategy disperses resources without focus
    Bad strategy disperses resources without focus
    A strategy is not just a plan; it is a cohesive response to a challenge. When a strategy is developed, resources must be alloca...
    Developing a clear value proposition for customers
    Developing a clear value proposition for customers
    A value proposition is a clear, simple statement that communicates the benefits that a company's product or service will delive...
    Customer relationship management is essential for longterm success
    Customer relationship management is essential for longterm success
    Customer relationship management is a crucial aspect of marketing that cannot be overlooked. Building strong relationships with...
    Companies must avoid getting trapped in the Red Ocean of competition
    Companies must avoid getting trapped in the Red Ocean of competition
    The concept of companies avoiding the Red Ocean of competition is crucial in today's business landscape. In the Red Ocean, comp...
    Blue Ocean Strategy focuses on creating value and innovation, not just cost reduction
    Blue Ocean Strategy focuses on creating value and innovation, not just cost reduction
    The essence of the Blue Ocean Strategy lies in its emphasis on value creation and innovation as opposed to mere cost reduction....
    Established companies have resources but struggle to innovate
    Established companies have resources but struggle to innovate
    Established companies often find themselves in a challenging position when it comes to innovation. Despite having abundant reso...
    Pursuing differentiation and lowcost strategies simultaneously can lead to a blue ocean
    Pursuing differentiation and lowcost strategies simultaneously can lead to a blue ocean
    When companies pursue both differentiation and low-cost strategies simultaneously, they can create a new market space for thems...
    oter

    Blue Ocean Strategy, Expanded Edition

    W. Chan Kim

    Open in app
    Now you can listen to your microbooks on-the-go. Download the Oter App on your mobile device and continue making progress towards your goals, no matter where you are.