The strategy of creating uncontested market space and making competition irrelevant is known as:
ABlue Ocean Strategy
BFlank Attack Strategy
CRed Ocean Strategy
DFirst-Mover Strategy
Explanation
* Blue Ocean Strategy (Chan Kim & Renée Mauborgne) creates new market space without direct competition.
* Red Oceans represent crowded existing markets where industry boundaries are defined and competition is fierce.
* Blue Ocean emphasizes ‘Value Innovation’ to simultaneously pursue differentiation and low cost.
Exam Relevance
- Topic: Strategic Marketing
- Subtopic: Innovation Strategy
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