The basic proposition of the blue ocean strategy is that many successful companies have built their competitive advantage by:
A)redefming their product offering through value innovation and creating a new market space.
B)initiating a price war in order to grow volume and drive its weaker rivals out of the industry.
C)developing brand loyalty to protect them from intense price rivalry within their industry.
D)charging premium prices for their goods or services.
E)adopting lean production and flexible manufacturing technologies.

Question

Quizplus · Accepted Answer

The blue ocean strategy proposes that companies can create new market spaces and opportunities for growth by redefining their product offerings through value innovation, rather than engaging in price wars or relying on brand loyalty or premium pricing. This involves identifying and addressing unmet customer needs and creating a unique value proposition that sets the company apart from competitors.

The Basic Proposition of the Blue Ocean Strategy Is That