Question

A blue ocean type of offensive strategy: Select one: a. Refers to initiatives by a market leader to steal customers away from unsuspecting smaller rivals b. Involves a preemptive strike to secure an advantageous position in a fast-growing market segment c. Involves abandoning efforts to beat out competitors in existing markets and, instead, inventing a new industry or new market segment that renders existing competitors largely irrelevant and allows a company to create and capture altogether new demand d. Involves the use of surprise hit-and-run guerrilla tactics to harass money-losing rivals and drive them into bankruptcy

Answer 1

Answer: A blue ocean type of offensive strategy involves abandoning efforts to beat competitors in existing markets but instead invest a new market segment or industry whereby existing competitors are irrelevant and one which allows a company to create and capture nee demand (Option C)

Explanation:

Blue ocean strategy is the pursuit of differentiation and low cost by firms in order to create a new market space and demand. Blue ocean strategy is about the creation and making use of uncontested market space, which therefore makes competition irrelevant.

Blue ocean strategy are used for industries that are not in existence today, industries that tap the unknown market space and are untainted by competition. The blue oceans gives room for growth as demand is created and not fought for. A blue ocean strategy describes the wider potential and benefits to be enjoyed when an unexplored market is explore.

Answer 2

Answer:

Involves Abandoning efforts to beat out competitors in existing markets and instead inventing a new industry or new market segment that renders existing competitors largely irrelevant and allows a company to create and capture altogether new demand  ( C )

Explanation:

The blue ocean type of offensive strategy which involves pursuing new market opportunities by creating new demands that would render previous demands irrelevant and also at lower costs.

Firms who employ the blue ocean type of offensive strategy venture into neglected market places/opportunities and create a new market out of them and most firms who employ are firms who invests alot into business researches. some of the Notable firms who employ this are : Amazon and Netflix.