Blue ocean strategy and new business model in restaurant industry: the co cooking space case.

Abstract

The purpose of this study is to find out the values or factors that would help developing blue ocean strategy for a new business model “the Co Cooking Space” in Thai restaurant industry by conducting the in-depth interview among the cooking lover, food start-ups and professional chef. Then using blue ocean strategy tools such as the blue ocean strategy canvas or ERRC Grid to analyse the value that company should adjust their investment in to focus on the factors that really meet their customers’ needs. The result shows that to be able to move in to blue ocean, company can ignore or reduce the factor such as service, reputation or price factor that restaurant in red ocean concern and raise or create a new value such as experience, space or privacy that companies in the red ocean doesn’t have which comes from customers’ value not competitor’s’ value.