Red Ocean Traps serves as a cautionary tale for businesses stuck in crowded, competitive markets from "summary" of Blue Ocean Strategy with Harvard Business Review Classic Article “Red Ocean Traps” (2 Books) by W. Chan Kim,Renée A. Mauborgne
The concept of Red Ocean Traps highlights the dangers that businesses face when they find themselves in crowded, competitive markets. These traps can hinder a company's ability to differentiate itself and create new demand. One such trap is the focus on beating the competition instead of creating uncontested market space. When companies are solely focused on outperforming their rivals, they miss out on the opportunity to explore new avenues for growth and innovation. Another trap is the overemphasis on existing customers, which can limit a company's potential for expansion. By solely catering to the needs of curren...
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