Answer:
The Red Ocean and Blue Ocean strategies are two distinct business strategies. The Red Ocean strategy focuses on competing in intense market spaces, aiming to outperform rivals by capturing a greater market share. Companies differentiate themselves through price, features, or marketing while operating within the existing market boundaries. On the other hand, the Blue Ocean strategy aims to create new market spaces untapped by competitors, offering unique value propositions through innovation, demand creation, and market expansion. This strategy emphasizes creating new opportunities rather than fighting over existing ones.