ITPEC IP October 2020 Question 84
ITPEC IP October 2020 — Question 84 of 100
Blue ocean strategy creates new, uncontested market space by offering new value, making direct competition less relevant. It seeks value innovation rather than fighting rivals over existing demand under established industry rules.
Answer (a)
Why not others:
- offering many low-demand products describes the long-tail strategy
- differentiating within an existing competitive industry remains a conventional competitive strategy
- winning primarily through lower cost is cost leadership in an existing market
Key rule: A blue ocean creates new demand and value space; a red ocean competes for share in an existing market.
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