Blue oceans denote all the industries not in existence today
According to our text (HBR, 2011), “Blue oceans denote all the industries not in existence today – the unknown market space, unattained by competition. In blue oceans, demand is created rather than fought over. There is ample opportunity for growth that is both profitable and rapid. There are two ways to create blue oceans” (Blue Ocean Strategy chapter, p. 124).
What are those two ways? Use an illustration to explain.
How can your firm create blue oceans?
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