This situation usually comes when the business is operating in a saturated market, also known as 'Red Ocean'. When the product comes under pricing pressure there is always a possibility that a firm’s operations could well come under threat. In today's environment most firms operate under intense competition and try to do everything to gain market share. But, let's first understand what is Blue Ocean and how it is different from Red Ocean strategy. This strategy revolves around searching for a business in which very few firms operate and where there is no pricing pressure.ĭescription: Blue Ocean Strategy can be applied across sectors or businesses. Definition: 'Blue Ocean Strategy is referred to a market for a product where there is no competition or very less competition.
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