该公司将与Blueocean Market Intelligence合作，这对该产品的数字营销非常有用。当技术突然出现时，就需要对公司的产品进行处理。客户需要考虑比较不同公司的插接插座的优点。产品的功能、质量和价格将成为影响顾客的关键因素。在目前的组织中，产品将在功能和材料方面采用新技术。这种材料是一种很好的绝缘材料，将提供重要的保护，因此，可以认为比以前更安全。
The business will come in partnership with Blueocean Market Intelligence that will be extremely useful for the digital marketing of the product. When there is a sudden appearance of technology, there is a significant need of treating the product of the company. Customers have to consider comparing the advantages of extension socket with different companies. The function, quality and price will end up becoming the crucial factors influencing the customer. In the current organization, the product will be dealing with new technology, in terms of functionality and material. The material is a good source of insulation and will be providing significant protection, and hence, can be considered as safer than before.
Strategy Canvas is a framework of action which helps in fabricating a blue ocean strategy that is as compelling as possible. This framework is useful in encapsulating the present condition of the market known while assisting organization to create an understanding of competitive scenario and trends. With factors of the industry plotted across the x- axis and the level at which it is offered is place at the y- axis, any organization can be successful in creating a value curve related to different organizations across the market, or even for the entire industry on the whole.
The business idea selected for this project portfolio is in the electrical industry for the sale of a multi-functional, extension socket. In the current era, the electrical market has diversified significantly, making the extension socket market an extremely big market with the development of technology. The key reason of this growth is not only the development of technology, but also the increased need for extension socket among customers all across the globe. There is huge competition in the business with different categories of extension sockets. However, the function and design of these extension sockets deal with some problem or the other, such as interference of plugs. Also, there cannot be a use of big head plug in the current extension sockets available in the market, as there is lack of sufficient space. There is quiet inconvenience for customers in charging much equipment, while using different categories of plugs. The business will be enjoying a number of benefits by the creation of uncontested market space that will further result in the irrelevance of competition. The blue ocean strategy will help in creating new level of demand, breaking the trade- off of value cost, and hence, the market will be persuaded simultaneously through low cost and differentiation. The initial strategy will be localization and this will require a better understanding of the Chinese market. There is a significant need of understanding the idiosyncrasies of main local markets by opening up facilities of marketing, manufacturing and research across the nation. Segmentation of the customers was done as a strategy for reaching the blue ocean strategy. The current sector of electronics can be categorized by marked heterogeneity, the key implication of which is the existence of several different expectations, desires and needs. Apart from heterogeneous, the demand has also started to become extremely demanding. More and more number of customers and businesses are purchasing extension sockets and has more knowledge about sustainability and safety. And hence, there has been an increase in demand for looking for extension sockets that are suitable for the specific needs and expectations of the customers.