Question

A blue ocean strategy is when a company:

a. outperforms rivals through higher sales volume, either through a low-cost or a differentiation strategy.
b. chooses both a differentiation and a low-cost strategy for its business-level strategy.
c. redefines the product offering through value innovation to create a new market space.
d. pursues a globalization strategy by opening new facilities and sales offices abroad.

Answer 1

c. redefines the product offering through value innovation to create a new market space

Step-by-step explanation:

Is the concurrent tracking of differential and low cost in order to open up markets as well as get new demands. It is about bringing new market into existence and dominating unchallenged market space there by nullifying unnecessary competition. Blue ocean strategy has the view that market boundaries and industries can be rebuilt by the activities of the major industry players.