Red Ocean Traps

Competing in existing markets is growing less profitable, so companies must find ways to create new markets. But despite much investment and commitment, companies find it extraordinarily difficult to establish new market spaces. Instead, they get caught in Red Ocean Traps. This book argues that to avoid being trapped in old markets and to find their Blue Oceans, executives need to focus on attracting new customers and worry less about segmentation. Executives need to understand that market creation is not synonymous with either technological innovation or creative destruction. Red Ocean Traps instructs to stop focusing on premium versus low-cost strategies.