1. What does the term "Blue Ocean Strategy" refer to? a. Competing in high-growth industries. b. Creating a new, uncontested market space. c. Focusing on increasing market share. d. Competing based on low cost. 2. Which of the following describes a differentiation strategy? a. The firm offers lower-cost products than its competitors. b. The firm offers unique and superior value products compared to competitors. c. The firm focuses on a narrow market segment. d. The firm enters new market spaces. 3. What is the main risk associated with cost leadership strategies? a. Technological changes that nullify cost advantages. b. Difficulty in maintaining quality. c. Entry of new competitors. d. All of the above