Q 1. Watch the video on Blue Ocean strategy. 2. Kim and Mauborgne (2005) argue that "those that seek to create blue oceans pursue differentiation and low cost simultaneously" (p. 13). They define this as value innovation and added that 'Value Innovation is the new way of thinking about, and executing, strategy that results in the creation of a blue ocean and a break from the competition" (p. 13). What is the difference between Blue Ocean and Red Ocean strategies? Which is more important in establishing and capturing uncontested markets? Support your arguments with research. Kim, W. C., & Mauborgne, R. (2005). Blue ocean strategy: How to create uncontested market space and make competition irrelevant. Boston, MA: Harvard Business School Press