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It's a measure of how much customers are using a product or service compared to the total estimated market for that product or service. Now, the big question is how to optimize it. If you act on blue ocean it's easy: you focus on the quality of your product and proper advertising will be less difficult. Thinking otherwise, imagine you're going on a first date with someone. You did your best self-advertising possible and when leaving the restaurant, you tried to take the first move. But then... "oh, sorry, I'm dating someone else, I thought it was just a friend's dinner". Do you really want to act in red ocean?

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