Question: The basic proposition of the blue ocean strategy is that many successful companies have built their competitive advantage by Group of answer choices charging premium

The basic proposition of the blue ocean strategy is that many successful companies have built their competitive advantage by
Group of answer choices
charging premium prices for their goods or services.
redefining their product offering through value innovation and creating a new market space.
initiating a price war to grow volume and drive their weaker rivals out of the industry.
developing brand loyalty to protect them from intense price rivalry within their industry.
adopting lean production and flexible manufacturing technologies.

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