"Red Oceans" refer to highly competitive market spaces where companies vie for the same customers and resources. In these environments, businesses often engage in fierce competition, leading to price wars and reduced profit margins. The term highlights the metaphorical "blood" in the water from the struggle among rivals. In contrast to "Blue Oceans," which represent untapped market opportunities, Red Oceans are characterized by established industries with well-defined boundaries. Companies in these markets must innovate and differentiate themselves to survive and thrive, often relying on strategies like cost leadership or differentiation to gain a competitive edge.