Are You Competing in a Red Ocean or a Blue Ocean? 5-Minute Lunch Lesson The Digital Brownbag L - The Doctor of Digital™ GMick Smith, PhD

There are two sorts of oceans: red oceans and blue oceans. In the red oceans, industry boundaries are defined and accepted, and the competitive rules of the game are known; here, companies try to outperform their rivals to grab a greater share of existing demand, and as the market space gets crowded, opportunities for profits and growth are reduced. Products become commodities, and cutthroat competition turns the red ocean bloody. Blue oceans, in contrast, are defined by untapped market space, demand creation, and the opportunity for highly profitable growth. Although some blue oceans are created well beyond existing industry boundaries, most are created from within red oceans by expanding existing industry boundaries. In blue oceans, competition is irrelevant because the rules of the game are waiting to be set.Time to answer a quick 4-question survey? Click to answer; thank you!https://docs.google.com/forms/d/1pfdA_6_7YzUnyolusOJy0lJeU0gNm07HIOMFyM2YCT4/editIf you like the Podcast please do three simple things for me: rate, subscribe, and write a review. Thank you!Amazon Associate ID is thedoctorofdi-20Kindly consider buying the intro song, “The Ocean,” Led Zeppelin.