This study tries to get the basic data on new marketing strategies for Graduation Photo Album manufacturing through blue ocean strategy.
Since the Graduation Photo Album manufacturing has begun, many businessmen achieved success with blue ocean strategy. However, in the recent days, through low prices, which is a red ocean strategy. However, inputting lots of investment and excessive labor to make good quality Graduation Photo Albums and increasing the arket share with quality products didn't improve on the financial difficulties. It was rather aggravated and there is some awakening those manufacturers should refrain from lowering prices because there're many bankrupt companies.
This research tried to examine a new marketing method through macro-environmental analysis & micro-environmental analysis, and technical analysis on manufacturing process of Graduation Photo Album market.
I tried to grasp the attractiveness of the industry by industry structure analysis and examine the opportunities and threats of the market by analyzing the current status of manufacturers, the types of competitors and macro environmental elements and look into the strong & weak points of manufacturing companies by the technical analysis of manufacturing process. The purchasing behavior of a consumer was grasped by consumer preference research and the level of market awareness among competitors was examined by the competitors' preference research.
The industry structure of Graduation Photo Album market shows that consumers are decreasing and the market has been reduced. However, the number of manufacturing companies has increased;
while, the attractiveness of the industry has decreased. On the other hand, the participation of students is still very high. In other words, a student likes to look at high-class product with his or her own picture. But, the financial status of manufacturing companies is very bad. Half of the surveyed companies show figures in the red and the reason is a low price bid. It was an irony that quality competition improved the product but the price dropped.
Some change is needed in marketing strategy. A luxury good has to be sold with a deserving price, but low price competition continues due to fierce competition.