Staying Ahead of Free-Riders - S7 E26
Takeaways:
- Free riding occurs when competitors replicate successful business models without investing in innovation.
- Creating a unique customer experience can deter free riders.
- In a red ocean, free riding is inevitable due to high competition.
- Differentiation is key to preventing free riding in business.
- Understanding your market and competitors is crucial for success.
📖 Buy "Blue Ocean Strategy" by W. Chan Kim | Renee Mauborgne
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Chapter Markers:
00:00 - Introduction to Free Riding
02:55 - Understanding Free Riding in Business
05:58 - Strategies to Overcome Free Riding
Activity