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Red Ocean Traps

by W. Chan Kim and Renée A. Mauborgne

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As established markets become less profitable, companies increasingly need to find ways to create and capture new markets. Despite much investment and commitment, most firms struggle to do this. What, exactly, is getting in their way? World-renowned professors W. Chan Kim and Renee Mauborgne, the authors of the best-selling book Blue Ocean Strategy have spent over a decade exploring that question. They have seen that the trouble lies in managers' mental models--ingrained assumptions and theories about the way the world works. Though these models may work perfectly well in mature markets, they undermine executives' attempts to discover uncontested new spaces with ample potential (blue oceans) and keep companies firmly anchored in existing spaces where competition is bloody (red oceans). In this bound version of their bestselling Harvard Business Review classic article, they describe how to break free of these red ocean traps. To do that, managers need to: (1) Focus on attracting new customers, not pleasing current customers; (2) Worry less about segmentation and more about what different segments have in common; (3) Understand that market creation is not synonymous with either technological innovation or creative dest

Paperback: 64 Pages
Product Dimensions: 105 x 165 mm
ISBN: 9781633692664

Published by Harvard Business Review