This catered primarily to the educated upper class, out of reach of working-class people. Before movies, a major form of visual entertainment was through live theater or operas.
DAYS GONE OCEAN OF GAMES MOVIE
In 1924, General Motors introduced variety – “a car for every purse and purpose.” This was a Blue Ocean Strategy example. Now that cars were mass-market, Ford’s cars were getting boring.
Market share increased from 9% in 1908 to 61% in 1921.By 1923, the majority of American households owned an automobile.It cost $850, half the price of existing cars.Limiting car options reduced the number of unique parts needed. Standardization reduced costs by employing unskilled laborers instead of car artisans.Henry Ford created the Model T, the first standardized, mass-produced automobile. In 1908, 500 American automakers existed making custom automobiles.They thus became a publicly maligned symbol of excess. Despite being unreliable, they cost $1,500, twice the average annual income. In 1893, the Duryea brothers created the first automobile.In the 1890s, the horse and buggy was the primary mode of transportation.To illustrate how Blue Ocean Strategy can be used in a variety of industries, we’ll cover three very different industries – automobiles, computers, and movie theaters.īlue Ocean Strategy Example 1: Automobile Industry Furthermore, you attract a new type of customer the industry hadn’t previously supported, thus growing the market. Because it doesn’t exist, you don’t have competitors competing directly against you. This creates a new product offering that doesn’t currently exist. In short, you create a blue ocean by focusing on the factors that customers really care about, while discarding factors they don’t. Blue oceans, where a market space is new and uncontested, and strategy centers around value innovation.īlue ocean strategy pushes companies to create new industries and break away from the competition.Red oceans, where competition is fierce in bloody waters, strategy centers around beating rivals, and wins are often zero-sum.Quick Review of Blue Ocean Strategyīefore we dive into Blue Ocean Strategy examples, let’s get clear on what a blue ocean is.
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We’ll cover 15+ Blue Ocean Strategy examples so you can figure out how to create your own blue ocean. But it’s not always clear how to create a blue ocean strategy for yourself.
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Like this article? Sign up for a free trial here.īlue Ocean Strategy is a powerful framework for finding new business opportunities. Shortform has the world's best summaries of books you should be reading. This article is an excerpt from the Shortform summary of "Blue Ocean Strategy" by W.