Question

• compare and contrast the strategies of the red ocean market space and the blue ocean market space

Answer 1

The concept is quite simple to understand. The Red Ocean is where every industry is today. There is a defined market, defined competitors and a typical way to run a business in any specific industry. The researchers called this the Red Ocean, analogous to a shark infested ocean where the sharks are fighting each other for the same prey.

A couple of years ago, my husband and I vacationed in Tahiti and went on a shark feeding dive. It was amazing to see how the sharks tore apart the chum and beat each other up over every morsel. Isn’t this much the same behavior we see in our industries? Thus the term, Red Ocean.

The Blue Ocean, on the other hand, is calm, smooth, with lots of food and little or no competition. This is where everyone would like to be and it is possible for you to have a Blue Ocean.