05 - TYIB - Competitors Analysis
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Transcript of 05 - TYIB - Competitors Analysis
• The known market space which contains all the industries in existence today
• Demand are defined and accepted, and the compe99ve rules of the game are known
• Companies try to outperform their rivals to grab a greater share of product or service demand
• As the market space gets crowded, prospects for profits and growth are reduced.
• Products become commodi9es or niche, and cuBhroat compe99on turns the red ocean bloody
• Denote all the industries not in existence today – the unknown market space, untainted by compe99on
• Demand is created rather than fought over. There is ample opportunity for growth that is both profitable and rapid.
• Compe99on is irrelevant because the rules of the game are wai9ng to be set.
• An analogy to describe the wider, deeper poten9al of market space that is not yet explored
• The corner-stone of Blue Ocean Strategy • A blue ocean is created when a company
achieves value innovation that creates value simultaneously for both the buyer and the company.
• The innovation (in product, service, or delivery) must raise and create value for the market, while simultaneously reducing or eliminating features or services that are less valued by the current or future market.
New Value Curve
Eliminate
Which of the factors that the industry takes for granted
should be eliminated?
Reduce
Which factors should be reduced well
below the industry’s standard?
Raise
Which factors should be offered more well above the industry’s
standard?
Create
Which factors should be included that the industry has never
offered?
Eliminate • Sea9ng class • Dedicated seat • Free meals • Lounge
Raise • Travel packages • New interna9onal des9na9ons
• Meals variety
Reduce • Ticket • Price • Wai9ng 9me • Air bridge
Create • Online facility (Web check‐in, 9cke9ng)
• Special services
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Price Speed Meals variety Sea9ng class choices
Lounge New des9na9on
Average Airines
Car
AirAsia
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Price Speed Meals variety
Sea9ng class
choices
Lounge New des9na9on
Online facility
Special services
Average Airines
Car
AirAsia
New factors offered to the current market
Red Blue
Industry Focuses on rivals within its industry
Looks across alterna9ve industries
Strategic group Focuses on compe99ve posi9on within strategic group
Looks across strategic groups within industry
Buyer group Focuses on beBer serving the buyer group
Redefines the industry buyer group
Scope of product/ service offering
Focuses on maximizing the value of product and service offerings within the bounds of its industry
Looks across to complementary product and service offerings
Func9onal emo9onal orienta9on
Focuses on improving price performance within the func9onal‐emo9onal orienta9on of its industry
Rethinks the func9onal‐ emo9onal orienta9on of its industry
Time Focuses on adap9ng to external trends as they occur
Par9cipates in shaping external trends over 9me