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Developing Marketing Strategies
Developing Marketing Strategies
Impact globalization has on marketing
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Introduction
The product I have chosen to study is the Nintendo DS. This product is one of Nintendo’s most recently released games consoles. I will explain what the Nintendo DS does. It is a handheld games console that consists of a book like structure. It has a small LCD screen on each side. One is a touch screen and the other is a viewing screen. The console also incorporates a microphone and has Wi-Fi capabilities. This allows the user to operate the game by using a small stylus on the touch screen, it can also listen to voice commands and can be used with other players if utilising the Wi-Fi feature. Nintendo is one of the world’s most globally recognised brands. It was founded in Kyoto, Japan in 1889. What it developed in those days is obsolete compared to today’s technological advance. In the beginning it developed playing cards, and then developed into other small niche businesses. In the twentieth century it matured into a video games company known as Nintendo Company Ltd. Its first product the NES Nintendo Entertainment System was introduced in 1985 and from this many other spin off video game consoles have been developed and marketed since then. The Nintendo DS is one of the most popular. In this assignment I will examine and develop the many aspects of how this product has been marketed to the world through the Nintendo Company Ltd. I will discuss the affect the marketing strategies have been on the successfulness of the product, and I will observe the marketing factors that make this all possible. I will introduce this under the following headings.
Marketing Environment
What is marketing? Marketing is defined as “The management process which identifies, anticipates and supplies customer’s requirements efficientl...
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... environment is defiantly the most unreliable as the global economic market could change at any time.
• Social and cultural Environment – Social factors include the demographic and cultural aspects of the external macro environment. Things like population growth rate, age distribution, and income determine how the company will produce. For social class, it defines the income group the individual belongs too and that, in turn, is heavily dependent on the income earned, which is a great factor in determining buying behaviour.
• Technological Environment - Technology is vital for the competitive advantage, the company must try to allow products to be made more cheaply while using high quality technological components. In the case of the Nintendo DS, they introduced Wi-Fi capabilities allowing game players to connect with each other and compete against each other.
2. Discuss the positioning strategy of each of the companies in the video game market and how they differentiate its marketing 4P’s.
For three decades, the Nintendo Company has been on the front line of the video game industry. With competitors continuing to develop new video game systems and more exciting games to play with those systems. The Nintendo Company has come up with their own ways to keep video game enthusiasts interests in mind. Even though the video gaming at home did not start with Nintendo, The Nintendo Company did start a video gaming revolution with the release of the Nintendo Entertainment System or NES in 1985. How did the first ad of the NES package have the effectiveness that appeals to video gaming enthusiasts to launch the revolution, as we know it today?
Marketing is the process of searching for options for accumulating profits by identifying the demands of the people and satisfying their needs with appropriate products. In today’s globalized business world, marketing can play a vital role in establishing trade blocks all over the globe with competitive and cutting edge market, research, policies, strategies and activities.
To conclude, Nintendo’s core competencies are: create video games that cost the people less as it did with Wii, it depends more on innovations and creativity instead of advanced technology, and it targets new segments of people such as; the elderly and women. The company has to worry about two main things. The first one is that the firm should create some video games with technology and graphics to attract people who like technology. The second thing is that the company should open stores that only sell Nintendo's games to give more choices for people who like its games. These two ways could help Nintendo to increase its sales and its profits.
Video games have revolutionized the way we play games. The coming of age in the now famous Silicone Valley, random dots, smarter terminals, cycle time, and lower cost, has made many people millions of dollars. It all started from other games, such as arcade games and board games. From one computer, to the technology of video game consoles, many companies have thrived in the gaming industry, while others have failed. Magnavox, Atari, Sega, Nintendo, PlayStation, and X-box are some of the successes and failures. This is the history of such gaming consoles that have brought bankruptcy and billions in revenue.
Social – Social factors that affect a company is in regards to the culture of the external environment. The culture of the external environment is developed from the ecological, demographic, religious, educational, and ethnic conditioning. The company’s social factors involve the beliefs, values, attitudes, opinions, and lifestyles of the people included in the external environmental culture.
The NES Classic stands out from the rest with the console, a controller, and 30 pre-loaded games. It is due to these crucial factors that the NES classic stands above its competitors. In the end, the debate still stands on the NES CLassic’s elasticity, but the console’s variation in price and lack of substitutes poses a fairly strong argument towards slightly
Nintendo, which is one of the largest video game companies, follows several steps and goes through different stages to create a value for its customers. To produce a video game controller, Nintendo outsourced the key components, which are needed for the production such as controller chips, from a number of different manufacturers. Nintendo formed partnerships with those manufacturers to supply them with the required components. The process of outsourcing the components from different manufacturers is considered as a good practice and cost effective because it reduces the production costs that Nintendo might have if they produced the components by themselves. As it is mentioned in the case, “Nintendo is not a technology company – it is a toy company” so, by outsourcing Nintendo als...
Before Sony’s Playstation and Microsoft’s Xbox there was a more dominant video game system on the market and believe it or not, Nintendo’s success didn’t start in video games, handheld gaming devices, or consoles, but the legend of Nintendo actually started by selling playing cards. Due to Hiroshi Yamauchi’s grandfather, Sekiryo Kaneda Yamauchi, having a stroke, Hiroshi had to drop out of Waseda University and assumed command of his grandfather’s playing card business during 1949. After solidifying a deal with Walt Disney to sell licensed playing cards with Mickey Mouse and other familiar characters, which was a huge success, Hiroshi established Nintendo’s Initial Public offering (IPO) around the 1960s. Unfortunately, however, the playing
Jordan Sizemore 12/11/2014 Final Exam Nintendo was a company that originally made playing card games but decided in the 1970’s to branch out into video games. Their first few video game systems did not have much to them and were overlooked. They finally got a leg up in the industry in 1985 when they introduced the Nintendo Entertainment System or NES to the market. While it was very successful because of its superior graphics when it became coupled with a certain plumber named Mario it became the superstar console of the gaming industry.
The case study highlighted that the new game Wii introduced by the company had the ability to attract individuals considered non-gamers or casual gamers. The Wii was not as powerful or technologically advanced as the Xbox 360 and the PS3, but its success lies in its ability to provide a new means of playing video games. The innovative design of the Wii’s controller, which had built in motion sensors, created a whole new gaming experience for users - on...
This unit entitled ‘Marketing’ requires me to produce a marketing strategy for a new or existing product. The product that I have chosen to devise a strategy for is the forthcoming video games console, “Nintendo Gamecube”, which is released in Europe on May 3rd 2002. I will have to carry out research about the principles of marketing; the way that close competitors will compete when the console is released; the strength of the brand name; possible marketing models/strategies; analysing the possible implications of external influences, etc. in order to produce a powerful strategy that will ensure that the product will do well in its market.
In terms of entertainment and leisure computer games is one of the main forms of multimedia products by which entertainment is accomplished, businesses that produce game consoles need the certain multimedia type that will allow them to produce the best entertainment and leisure product possible, without multimedia it is not possible to accomplish this.
As shown in Figure 1 there are many different definitions for Marketing. The key is that they all share a common theme, marketing is: “Meeting the needs and wants and providing benefits for customers.”
In general, there are numerous definitions of marketing as it has various features to involve, and the one below has concluded main factors of it: