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Published by:
INSEAD (2018)
Version:
11.2018
Revision date:
26-Nov-2018
Length:
14 pages
Data source:
Published sources
Notes:
Check out the short video trailer for a quick case synopsis.
Exercise for Market Creation in a Highly Competitive Industry

Abstract

This is a Korean version. The case is a combination of strategy formulation exercise and case method. It consists of three parts: 1) Part A looks into the competitive landscape of the travel industry in Korea and ends with the challenging question to participants to create their own blue ocean strategy as a group work. 2) Blue Ocean Shift Exercise is conducted in the classroom using the worksheets. It provides detailed information in a pre-set format. Participants follow the process of blue ocean shift using the Buyer Utility Map, the Noncustomer Analysis, the Six-Path Framework, the E-R-R-C Grid, and the To-Be Strategy Canvas to create their own blue ocean strategy. 3) Part B provides an example of creating a new market space in the travel industry in 2012 in Korea-My Real Trip. This theory-based video case narrates how My Real Trip reconstructed the market boundaries and created new demand in the crowded and divided travel industry. The strategic move can be discussed in the classroom accompanied by lecture slides.

Topics

Blue Ocean Strategy; Blue Ocean Shift; Sharing economy; Travel industry; Korea; Entrepreneurship; Start-up; Strategy formulation; Workshop; Market creation; Exercise; Innovation
Location:
Industry:
Other setting(s):
2012

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