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Marketing Strategy - Nintendo Gamecube

Extracts from this document...

Introduction

CONTENTS 1.0 PLAN 2.0 INFORMATION GATHERING 3.0 INTRODUCTION NINTENDO GAMECUBE 4.0 AN INTRODUCTION TO MARKETING 5.0 MARKET RESEARCH 6.0 ANALYSIS OF CURRENT MARKETING STRATEGIES 7.0 MARKETING PLANNING AND THE MARKETING AUDIT 8.0 EXTERNAL INFLUENCES 9.0 THE MARKETING MIX 10.0 SUMMARY OF THE GAMECUBE MARKETING STRATEGY FEATURES OF APPENDIX * NINTENDO GAMECUBE BUYING GUIDE * A GAMES GUIDE TO THE CONSOLES * GAMES LEAFLET FROM EDGE MAGAZINE * GAMING JARGON BUSTER * PRESENTATION SLIDES USED IN THE POWERPOINT PRESENTATION * NOTES AND CUES USED IN THE POWERPOINT PRESENTATION * BLANK SAMPLE QUESTIONNAIRE * SOME COMPLETED QUESTIONNAIRES * EVIDENCE FOR E-MAIL CONTACT WITH THE SONY CORPORATE SITE * ARTICLE FROM THE BBC WEBSITE ABOUT A BOOTS ADVERT * ARTICLE FROM THE BBC WEBSITE ABOUT THE GAMECUBE * ARTICLE FROM AN ADVERTISING WEBSITE ABOUT PROMOTION * ARTICLE FROM THE GUARDIAN WEBSITE ABOUT THE TIMES NEWSPAPER 1.0 PLAN ABOUT UNIT THREE 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. OBTAINING INFORMATION Information that will help me to complete this report can be obtained from a number of different ways. Some obvious methods that will be used throughout the report for obtaining data and information towards the formation of the marketing strategy are: * The Internet: this method has become one of the most popular in finding information since there are many search engines available on the Internet as well as websites of the Nintendo company itself and many other sites designed by fans and video game players from around the world. ...read more.

Middle

On the other hand, the Windows products have had few advertisements on TV, the media and on the Internet, due to the fact that it is the leading product in its market with very few competitors (the only real one being the Mac OS X system for Macintosh users, which still doesn't come close to the amount of Windows products that have been sold). It is very unusual for every product produced by a firm to have an identical marketing strategy The first step in developing a market strategy is analysing the current and future state of the business environment, and identifying the strengths and weaknesses of the business. The next step is to use this information. The strategy should draw on the business strengths to make the most of its opportunities, overcome weaknesses, and reduce threats. The Ansoff Matrix is a simple planning tool that can help with strategy development. It is based on the need for business organisations to do 'opportunity searching' and identifies four possible strategic directions. The Ansoff Matrix illustrates both existing and new products within existing and new markets, as well as some of the more common marketing strategies: Products Existing New Markets Existing MARKET PENETRATION PRODUCT DEVELOPMENT New MARKET DEVELOPMENT DIVERSIFICATION Market penetration Market penetration is when a business increases its share of a market in which it already operates. This is considered by many to be a relatively safe strategy: the firm is working in areas where it already has some knowledge, experience and understanding. For example, if I decide to choose this strategy after considering all the others, I would increase the market share by attracting more customers to the Gamecube than there were towards the Nintendo 64 and by encouraging our existing customers to buy our latest product. It is possible to achieve these targets by developing loyalty schemes (like the WHSmith Clubcard and the Boots Advantage Card) ...read more.

Conclusion

This would ensure higher sales revenue. Additionally, price was identified as an important factor in deciding which console to purchase in the questionnaire carried out. Market development will aim to attract more young adults into purchasing the console, as this segment of the market is one where Nintendo could do better in. Product development needs to be introduced at a later stage to ensure that Nintendo remains at its competitive position The Gamecube should be promoted commercially through the following media: television, magazines, cinema, radio, posters, the Internet and limited usage of national newspapers. Promotion will be a key factor in the success of the Gamecube. The product should be advertised on the chosen media because the promotion is likely to be seen and heard by a large audience, especially through television and the cinema. Brochures of the product should be sent directly to customers at home. This would be a good idea, as Dell has used this strategy and this has proved very effective for them. It would provide them with information about the console, where they can purchase it and why they should buy it. The more people that know about the product, the more potential customers there are that will buy the product. Nintendo should produce display material for use in retail shops and on their windows. This should be done to remind customers walking past the shop about the product and when the product will be released. Without using display material, customers may never know if the product is available or not. The channel of distribution that should be used by Nintendo to distribute the product should be: Producers to wholesalers to retailers to the consumers. This channel of distribution has been chosen as it allows us to concentrate more on the product itself rather than worrying about all the hassles of distribution. Using a wholesaler has many advantages for both Nintendo and the retailer. Advanced VCE Unit Three: MARKETING Produced By Simon Ong ...read more.

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