Blue Ocean Strategy Quiz

Who developed the Blue Ocean Strategy?

• Dr. Clayton Christensen

• Dr. Peter Drucker

• Dr. Michael Porter

• Dr. W Chan Kim and Dr. Renee Mauborgne

What is a key characteristic of a Blue Ocean strategy?

• Competing in saturated markets

• Creating new, uncontested market spaces

• Focusing on cost leadership only

• Engaging in price wars

What is the main focus of Blue Ocean Strategy compared to Red Ocean Strategy?

• Increasing market share in existing markets

• Reducing operational costs

• Creating new demand

• Outperforming competitors

Which of the following is NOT a principle of Blue Ocean Strategy?

• Value Innovation

• Reconstruct Market Boundaries

• Focus on Existing Demand

• Build Execution into Strategy

What tool is used in Blue Ocean Strategy to identify factors to eliminate, reduce, raise, or create?

• PEST Analysis

• Porter's Five Forces

• ERRC Grid

• SWOT Analysis

Which principle involves looking beyond existing industry boundaries?

• Reach Beyond Existing Demand

• Value Innovation

• Reconstruct Market Boundaries

• Overcome Key Organizational Hurdles

What was a key factor in Southwest Airlines' value innovation?

• Providing assigned seating

• Increasing flight prices

• Offering in-flight meals

• Eliminating non-essential services

Which company used Blue Ocean Strategy to transition from DVD rentals to streaming?

• Amazon Prime

• Netflix

• Hulu

• Blockbuster

How did Tesla differentiate itself in the automotive industry?

• By offering low-cost gasoline cars

• By focusing on electric vehicles with high performance

• By providing the cheapest cars in the market

• By manufacturing only hybrid vehicles

What is the ultimate goal of Blue Ocean Strategy?

• To engage in price wars

• To compete directly with established competitors

• To create new market spaces

• To focus solely on existing customers