In the book Blue Ocean Strategy (2005), the authors argue that in highly competitive situations, one should not try to outprice one's competitors, but instead develop radically different value propositions that render the competition irrelevant. Development and implementation of this radical approach is called:

Question

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The approach discussed in the book is referred to as "value innovation", which involves creating new value for customers by combining elements of both differentiation and low costs. This is different from trying to beat the competition by solely focusing on price (outpricing), which the authors argue is not sustainable in the long-term. Therefore, the correct answer is D) value innovation.

In the Book Blue Ocean Strategy (2005), the Authors Argue