• Share
  • Email
  • Embed
  • Like
  • Save
  • Private Content
Henry-Ford-Didn't-Invent-The-Car.-He-Wasn't-Even-T142
 

Henry-Ford-Didn't-Invent-The-Car.-He-Wasn't-Even-T142

on

  • 326 views

 

Statistics

Views

Total Views
326
Views on SlideShare
326
Embed Views
0

Actions

Likes
0
Downloads
0
Comments
0

0 Embeds 0

No embeds

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Henry-Ford-Didn't-Invent-The-Car.-He-Wasn't-Even-T142 Henry-Ford-Didn't-Invent-The-Car.-He-Wasn't-Even-T142 Document Transcript

    • Henry Ford didnt invent the car. He wasnt even the first manufacturer of the car. In fact, when he jumped into the industry, there were more than 500 manufacturers building automobiles. Thats a heavy market. Its what some call a red ocean, tainted by the battling competition. So, why is it that we think of Ford when we think of cars? Because he didnt sailthat red ocean. He made a blue ocean strategy that not only built long-term brand equity, but brought the cost of a car down from $1,500 to $250 in a matter of a few years, sending him into uncontested market space.blue ocean strategy framework
    • Not long ago, W Chan Kim and Renée Mauborgne detailed the benefitsof a blue ocean strategy in the Harvard Business Review They define a redocean as an existing industry where value is lost to cost-cutting warfare
    • On the other side, a blue ocean strategy is one that creates new marketsthrough differentiating, much like Ford This same strategy should be appliedto new product development Of course, innovating product lines to win thecompetitions customers and cutting manufacturing costs with better designs isimportant, but creating entire new markets and categories untouched bycompetition and keeping costs low paves the way for real success
    • Recently, we worked with a Canadian company, Calego, which focuses onmatching character licenses with a variety of products, some of which fight in ared ocean They were seeking new innovations for licensed characters
    • We could have slapped these images on current products with hopes theywould sell by the license alone, but it would have been a waste of the valueInstead, we decided to search for a blue ocean strategy
    • Whats something blue ocean strategy framework new? Whats something noone has done in the market? We found that consumers with young childrenwere having difficulty keeping the children focused at the dinner table Withtoys and technology vying for dinnertime attention, children are often not sittingstill, much to the grievance of their guardians
    • So we set forth to open this doorway with a line we call interactive mealtimeparents We set a goal to turn otherwise normal mealtime products, such asplates, cups and bowls, into real attention-grabbers for children
    • We created the Dinner Spinner™, a plate that spins at a touch of abutton; the Talking Tumbler™, an interactive cup that talks when a childpicks it up; and the Slide Show Tumbler™, which sends a lighted film striprotating around the cup when activated Taking this blue ocean strategyapproach for our client, Calego, has led to an almost endless supply ofproducts for us to experiment with in design -- and without the fear of a lot ofcompetition standing in our way
    • Build value and brand equity by becoming recognized in markets without a lotof competition Applying a blue ocean strategy to product development givesyou room to grow comfortably and it places you in plain view of your customers
    • Otherwise, youll be forced to bump shoulders, nearly invisible in a crowdedsea of competitors, and forced to sacrifice value to make it all work
    • blue ocean strategy framework