When pursuing a Blue Ocean strategy, a firm in a crowded marketplace attempts to out-compete rivals on both cost and product features with the goal of gaining market share at the expense of other competitors in the same industry.

The correct answer is False.

Explanation:

The first thing they did was to differentiate two contexts: the red ocean that is marked by fierce competition without differentiation and where the cheapest triumphs based on stealing customers from competitors, offering the same, but cheaper (churn rate) , or the blue ocean, where the right strategy and innovation generate value leaps that make competitors irrelevant because customers compare absolutely different products and services.

The four principles on which the blue ocean rests are:

correct, but each time you dont pay the price of the penalty can increase.

answerindividual preferences are not revealed in the market for the good;