Rather than competing head to head with established competitors,many companies seek out unoccupied positions in uncontested market spaces.They try to create products and services for which there are no direct competitors.This is called a .
A)"strategic sweet spot"
B)"strategic platform"
C)"common platform"
D)"blue ocean strategy"
E)"red ocean strategy"

Question

Quizplus · Accepted Answer

This strategy is known as the Blue Ocean Strategy, where a company aims to create a new market space with no direct competitors. The term "blue ocean" refers to the untapped market space where there is no competition, unlike the "red ocean" where competitors fight for dominance in a crowded marketplace.

Rather Than Competing Head to Head with Established Competitors,many Companies