Competition is part of every business. Marketers, business leaders, and entrepreneurs in every industry are fighting one another to get to the top and reign as the premier service for their clientele. But as the market space gets crowded, profits and growth drop, and there are no winners in this cutthroat sea of competition — unless you create your own market.
Chris Earley’s Bookshelf Finding Your ‘Blue Ocean Strategy’
W. Chan Kim and Renée Mauborgne detail this phenomenon in “Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant.” Kim and Mauborgne outline the value of creating a “blue ocean” for your business rather than sinking in a “red ocean.”
There are businesses in the market today that sit in “red oceans,” which are spaces that are overrun by companies that are doing the same exact thing and trying to win the exact same consumers. But companies that can swim away from that market and create their own unique proposition that separates them from their competitors reside
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