The Basic Proposition of the Blue Ocean Strategy Is That

question 43

Multiple Choice

The basic proposition of the blue ocean strategy is that many successful companies have built their competitive advantage by:

• A)redefming their product offering through value innovation and creating a new market space.
• B)initiating a price war in order to grow volume and drive its weaker rivals out of the industry.
• C)developing brand loyalty to protect them from intense price rivalry within their industry.
• D)charging premium prices for their goods or services.
• E)adopting lean production and flexible manufacturing technologies.

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Definitions:

Random Sample

A subset of a population selected in such a manner that every individual has an equal chance of being chosen.

Regression Line

A line of best fit through a scatter plot of data points that shows the linear relationship between two variables.

Linear Regression

A statistical method used to model the relationship between a dependent variable and one or more independent variables by fitting a linear equation to observed data.

Standard Error

A measure of the statistical accuracy of an estimate, indicating the variability of an estimate when different samples are taken from the same population.