Competing in the existing market place,beating the competition,and exploiting existing demand are elements of
A)Operations strategy
B)Marketing strategy
C)Red Ocean strategy
D)Blue Ocean strategy
E)Optimistic strategy

Question

Quizplus · Accepted Answer

Competing in the existing market place, beating the competition, and exploiting existing demand are characteristic of Red Ocean Strategy. This strategy focuses on outperforming rivals and gaining a larger share of the existing market. It involves creating a competitive advantage through cost-cutting, differentiation, or niche targeting. Blue Ocean Strategy, on the other hand, focuses on creating new markets and uncontested market space, making competition irrelevant. Operations strategy is concerned with the design, management, and improvement of processes to produce goods and services. Marketing strategy is focused on identifying and satisfying customer needs. Optimistic strategy is not a recognized term in strategic management.

Competing in the Existing Market Place,beating the Competition,and Exploiting Existing