REINVENTING BUSINESS MODEL OF BIGMEDIA GROUP IN DIGITAL ERA
Bigmedia Group is known as the oldest economic and business media company in Indonesia. However, along with the rapid development of technology, the company’s blue ocean market—economic and business segment—is slowly changing to a red ocean. The company’s revenue from the newspaper keeps declining,...
Saved in:
| Main Author: | |
|---|---|
| Format: | Theses |
| Language: | Indonesia |
| Online Access: | https://digilib.itb.ac.id/gdl/view/48713 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | Bigmedia Group is known as the oldest economic and business media company in Indonesia. However, along with the rapid development of technology, the company’s blue ocean market—economic and business segment—is slowly changing to a red ocean. The company’s revenue from the newspaper keeps declining, while its digital media unit could not provide a significant income to cover the decrease.
From the analysis of internal and external factors, the root cause of the business issue is the company's unwillingness to innovate to create new products that are suitable for the change of readers’ behaviors. Some previous studies suggested that publishers modify their business models to tackle this business issue.
This final project is using the blue ocean shift framework—combined with personal interviews and questionnaires results—to propose a new business model for Bigmedia Group. According to the analysis results, Bigmedia Group must get out of existing market boundaries by creating a leap in values for buyers, which are simplicity, convenience, and collaboration.
To implement these values of innovation, the company should raise the content quality and reducing the selling price. Besides, the company should create a new online video channel, community platform, and integrated data service using big data strategies. Also, Bigmedia Group should consider strategic partnerships that bring value-added for the company to accelerate the business strategy implementation. |
|---|