MKT10007 Fundamentals of Marketing Assignment 3: Marketing Strategy PlayStation 4 Console (500GB/1TB editions)
Executive Summary This report will provide an in depth analysis on the Playstation 4 Console (PS4) 500gb and 1TB models, and provide foundations for the creation of a marketing strategy. As part of the analysis on the marketplace and influencing factors, this report explores the industry, consumer segmentation, segmentation attractiveness and identifies questions which, with research, could help further the understanding of the PlayStation 4 market. The research in this report focuses on the types of people that play video games, and the way they can be marketed towards. Console hardware is seen as being in the declining stage, and though it's unlikely new brands will enter the market due to the dominance of the three home console brands, competition continues as these companies continue to release new hardware and software every year. This leads to Sony continuing to innovate with its consoles and peripherals, as well as acquiring exclusive software rights to draw in customers. Our consumer segmentation found that all types of gamers are worth advertising to, but in different capacities. Casual gamers were found to have the highest chance at growth, as the company's mission and the consoles varied uses can appeal to this market if marketed correctly. Finally, our research suggests that more research should be done into the non-gamer group, as this is a largely untapped group in regards to console marketing. If research is able to find why they don't use the PS4 console, marketing can be adapted to suit these users needs. It is recommended that: - Heavy gamers need to be marketed to for continued brand loyalty. - There should be a focus on creating marketing that outlines the differences between PS4 and its competition. - Casual gamers are marketed towards heavily to influence a large growing market to our console instead of the competition - Further research be put into finding out how to appeal to non-gamers, as they are a large segment of the market 1
Table of Contents Executive Summary. 1 Introduction 3 1. The Marketplace and Influencing Factors 1.1 The Micro Environment 1.1.1 Industry Overview and Summary. 4 1.1.2 Competitor Analysis. 5 1.1.3 Analysis Of Other Micro-Environment Players. 6 1.2 The Macro-Environment 1.2.1 Other Environmental Factors Influencing The Company ....... 7 2. Attractiveness of Consumer Segmentation 2.1 Consumer Segmentation 2.1.1 Creating Consumer Segmentations 9 2.1.2 Profiling Elements Defined. 9 2.1.3 Justification of Segmentation Base. 10 3. Segment Attractiveness 3.1 Segment Comparison 3.1.1 Size and Growth. 11 3.1.2 Structural Attractiveness 11 3.1.3 Company Objectives and Resources. 11 3.2 Additional Information 3.2.1 Market Factors 12 4. Recommendations for Additional Research 4.1 Additional Research. 13 4.2 Primary Research. 13 4.3 Research Design. 13 Conclusion and Recommendations 15 Reference List. 16 2