Some companies seek to identify unoccupied market spaces by developing products and services for which there are no competitors. According to the text, this is known as:
A) pioneering strategy.
B) market innovation.
C) market leadership.
D) red ocean strategy.
E) blue ocean strategy.

Question

Quizplus · Accepted Answer

The development of products and services for unoccupied market spaces with no competitors is known as a blue ocean strategy. This approach involves creating a new market rather than competing within an existing one, reducing the emphasis on price and instead focusing on differentiation and innovation.

Some Companies Seek to Identify Unoccupied Market Spaces by Developing