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What is Understanding Red Ocean Traps in Business about?

Red ocean traps refer to mental models that anchor managers in saturated markets rather than exploring new opportunities. The six traps are: 1) Focusing only on existing customers rather than new markets 2) Treating niche strategies as market creation 3) Confusing technology innovation with market creation 4) Equating disruption with market creation 5) Viewing differentiation as the only path to market creation 6) Thinking low costs alone can create new markets. AirAsia succeeded by challenging industry n

Author

Ziling Yin

Language

EN