**Red Ocean Strategy** A Red Ocean strategy involves competing in an existing market with established players, where the competition is fierce and the focus is on beating the competition to gain market share. The term "Red Ocean" comes from the idea of sharks fighting for food in a bloody ocean. Let me dive deeper into the Red Ocean strategy: **Characteristics of a Red Ocean** 1. **Existing Market**: A Red Ocean strategy involves competing in an existing market, where there are already established players and a clear understanding of the market dynamics. 2. **Established Players**: The market is occupied by well-known companies that have a strong presence, customer base, and brand recognition. 3. **Fierce Competition**: The competition is intense, with multiple players fighting for a share of the market. This leads to a highly competitive environment where companies need to constantly innovate, reduce costs, and improve their offerings to stay ahead. 4. **Focus on Beating
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