Question

When pursuing a Blue Ocean strategy, a firm in a crowded marketplace attempts to out-compete rivals on both cost and product features, usually with the goal of gaining market share at the expense of other competitors in the same industry.a. True
b. False

Answer 1

Answer: False

Explanation:

Blue ocean strategy is the pursuit of

low cost and differentiation simultaneously to open a new market space, creating new demand and make competition irrelevant.

It is the about the creation and capture of market space, thereby making the competition irrelevant

Instead of attempting to out-compete ones competitors by offering lower costs or better feature, blue ocean strategy makes competition irrelevant.