Pursuing differentiation and lowcost strategies simultaneously can lead to a blue ocean from "summary" of Blue Ocean Strategy with Harvard Business Review Classic Article “Red Ocean Traps” (2 Books) by W. Chan Kim,Renée A. Mauborgne
When companies pursue both differentiation and low-cost strategies simultaneously, they can create a new market space for themselves, known as a blue ocean. This concept challenges the traditional belief that companies must choose between differentiation or low cost to succeed. Instead, by focusing on both strategies, companies can break away from the competition and unlock new opportunities for growth. Differentiation involves creating unique value for customers through product features, services, or brand image. This strategy allows companies to stand out in the market and attract customers willing to pay a premium for their offerings. On the other hand, a low-cost strategy focuses on reducing costs and offering products or services at a lower price point than competitors. This approach targets price-sensitive customers ...
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