In 2020 Gartner Research reported 16% growth in the software-as-a-service market. And it has been only rising since! This means that competition in the SaaS market is growing too. Blue oceans turn red.
Blue and red oceans represent two types of markets. The red sea stands for the market with fierce competition.
It’s natural that you may have your doubts about entering the market with solutions just like yours. But the crowded market has a bright side too!
Red ocean actually has many advantages:
- You don’t need to reinvent the wheel to enter the market
- The field is already well researched
- Customers need such a solution!
It is true that it is quite difficult to withstand the competition in the red ocean. On the other hand, many startup founders realize that developing a unique product is an even harder task.
It is possible to succeed in each of these types of markets if you apply the right business strategy.
What's Read Ocean & Its Advantages
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