For a startup to prevent your e-commerce business model from failing ( https://www.yourretailcoach.ae/services/business-model-development/ ), adopting the Blue Ocean or Red Ocean technique does not require much anxiety as it depends on your luck and health level. What is the Red Ocean Strategy?
A target market can be extremely competitive in a red sea market or perhaps a red sea strategy. These are generally found by the small but unpopular market. In a red shipping market, competitors would typically be large, and existing businesses compete against each other using naturally competitive methods.
A red ocean market is fiercely competitive and could be more risky for a brand new business, especially a startup. Among the examples associated with a red ocean company could be various car companies. Each of the different companies are fighting against each other to solve the same problem or perhaps need that the customers are facing.
Examples of Red Colored Ocean Strategies
Apple
Apple launched its iPhone in 2007 when companies such as Nokia, Motorola and Sony dominated the industry. Apple needed to produce a user base where users were willing to spend $1600 to hold a phone. How did Apple disrupt the market? They made a better smartphone than its competitors which we all know these days as iPhone 2g.
5 guys
5 Guys is an American fast food restaurant chain founded in 1986. 5 Guys planned to enter the fast food market in which its KFC, McDonald’s and competitors dominated the industry. How did that allow it to be huge in a very competitive market? Among the causes, he didn’t spend millions on marketing and presented good burgers with better quality. It is currently one of the best fast food chains in America.
Examples of Red Ocean Strategies in India
spruce jet
SpiceJet is a pathetic illustration of a Red Ocean company in India; SpiceJet is a low-cost airline that has acquired customers by providing much smaller solutions than its competitors, although it is constantly in direct competition with other companies.
jio
When Jio entered the market, it created disruption through free services, which disrupted the entire telecom industry.
What is the Blue Ocean Strategy?
A blue ocean strategy focuses even more on new customer demands and trends in developing a whole new industry based on it. Blue oceans is a much more unoccupied and little-known market. The blue ocean market focuses primarily on creating value and is created on this basis.
Examples of Blue Ocean Strategy
Uber
Uber is a wonderful illustration of the Blue Ocean strategy. He solved one of the many main customer issues when booking taxis which had been denial of service, meter issues and unwanted arguments.
Airbnb is an Internet marketplace that acts as a mediator for those who need to rent their homes to people looking for accommodation. Airbnb has eliminated travelers’ problems by discovering a hotel with quality service. Airbnb is among the top companies in the accommodation market, with revenue of 11.3.4 billion in 2020.
Examples of Blue Ocean Strategy in India
Oyo rooms
Oyo Rooms is a hotel chain created through Ritesh Agarwal. Oyo Rooms has moved into a new market, budget hospitality. It solved the problems of consumers looking for a good hotel at an affordable price.
Conclusion
Either way, the Red Ocean process is much more hit or miss as you have the choice to build your image even more customer-friendly and how much you promote your product, assuming your product or service, for example, for example, is of the FMCG classification. The red ocean strategy will likely be used. Your Retail Coach (YRC), a company specializing in e-commerce and outsourced retail ( https://www.yourretailcoach.ae/ ), offers a variety of offline and online retail solutions.
Get tips for online retail businesses: http://www.yourretailcoach.ae/contact us/
Refer Vlog: https://www.youtube.com/watch?v=7Fx5P2fNe2A
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This press release was published on openPR.
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