Innovation Strategy Analysis through a Blue Ocean Strategy for Wear It

Abstract

This study aimed to find the right blue ocean strategy to get out of the red ocean for Wear It, a startup business engaged in garment convection since 2016. This study went through 3 stages: determining the SWOT, Key Success Factor, and 4-Action Framework (ERRC). The Key Success Factors that were obtained will be included in the strategy canvas to see the comparison with competitors and determine the 4 Action Framework. This research used a qualitative approach through in-depth interviews with 5 stakeholders including founders, customers and suppliers of Wear It. The results indicate that the blue ocean strategy is important in order to survive in the market. The resulting 4-Action Framework is to (E) eliminate the founder element; (R) raise marketing, product quality, product innovation, and brand elements; (R) reduce price, store, and quality control elements; and (C) create customer education and sales elements in order to create a new value curve for Wear It. Keywords: blue ocean strategy, SWOT, key success factor, ERRC