Marketing Plan for a New Term Paper
- Length: 12 pages
- Subject: Business - Advertising
- Type: Term Paper
- Paper: #62284785
Excerpt from Term Paper :
The most relevant competitors at this stage are represented by the Microsoft Corporation, the SEGA Corporation and the Sony Corporation (Hoovers, 2010).
In terms of the second persona, the competition is less concentrated as the hi-tech consumers will often renounce brand loyalty and will look for products which serve their needs, even if these products are sold by small size companies. This status quo is due to two primary elements:
On the one hand, the technical consumers have higher expectations. They do not care for fashionability, but they expect high quality or even flexibility so that they can program over the initial application and personalize the game.
On the other hand, the status quo was propagated by the abundance of firms and even individuals who create applications and sell them within the virtual community. The advent of the internet then enhances competition within the industry by bringing games and gamers closer together.
Given the realization of the threat within the second persona, the creation and distribution of the Nintendo mobile telephone games would be based on the offering of high quality at affordable prices. These features are crucial given the high demands of the technical customers, as well as the competition which might offer games for less than $1 a piece.
Finally, the competition within the third customer segment is represented not so much by other mobile games, but rather by other applications for mobile telephones which offer entertainment abilities for the young female consumers. Some examples in this sense include shopping applications, personal care applications or picture viewing and editing.
All in all, the distinctive features of the three personas indicate the necessity for the Nintendo video games set for mobile telephones to be diversified. In other words, the set would contain several games which could find application and offer pleasure to all three categories of prospected consumers.
The selection of video games for mobile telephones has been attributed to the already established trend set by the Nintendo executives in seeking new opportunities for development. It is constructed on the same principles issued by Satoru Iwata with the launch of the Wii, when he "believed that the video game industry had been focusing far too much on existing gamers and completely neglecting non-gamers. Armed with this insight, the company repositioned itself by developing a radically different console" (Farhoomand, 2009).
With this realization in mind, the move into the mobile devices market represents a new era for Nintendo, which has generally been focused on computer games or console games. This virtually means that the organization would have to develop a marketing strategy aimed at attracting new personas. The current personas would also be encouraged to purchase the games for the mobile telephones, but a new approach is required in order to appeal to the three personas previously established. The marketing strategy to attracting new personas would be a strong and aggressive one, focused on approaching the three target markets through specific channels.
3. Marketing mix
The marketing mix -- or the 4 Ps of marketing -- incorporates the multitude of strategic choices which would be made relative to the product to be sold / launched, its price, its distribution channels (place) and finally, the promotional campaigns to be developed and implemented. "These four P's are the parameters that the marketing manager can control, subject to the internal and external constraints of the marketing environment. The goal is to make decisions that center the four P's on the customers in the target market in order to create perceived value and generate a positive response" (NetMBA, 2010). The following lines detail on the strategic elements to be integrated at each of the four Ps.
At the specific level of the product, several decisions would have to be made regarding issues such as brand, functionality, styling, quality, safety, packaging, repairs and support or accessories and services. The following are recommended:
The set of video games for the mobile telephones be sold under the already established Nintendo brand. This would help consumers relate to the previous success of the company and trust the brand, and subsequently, the new products.
The functionality of the games is that of offering entertainment and also challenging the individual to solve puzzles and other logical and intelligence challenges.
The styling of each game would be represented by their particular interfaces, which would be created in accordance to the game features, as well as the personas they address. A game of war for instance, would be designed using dark colors and nuances and loud noises, whereas as puzzle game would be designed using brighter nuances and noises of lower intensities.
The quality of all the games in the set would be increased and it would be supported by the most recent high definition and full high definition technologies.
The safety of the games would rely on the provisions of the active regulations which limit the incidence of nudity and violence in the video games. A need for material safety does not arise, as this would be ensured by the manufacturers of the mobile telephones, but the emotional safety would be ensured by Nintendo.
Given the immaterial nature of the game and its representation as a software application, the packaging requirements are reduced. Nevertheless, the game would be sold on data cards or compact disks, which would be packed in plastic containers that protect them throughout the transportation and storage processes.
Support would be offered by the Nintendo technical team. The contact information for this department would be integrated on the interior of the plastic packages. The functionality problems arising as a result of the actions of Nintendo would be resolved free of charge.
Finally, in terms of accessories and services, these refer mainly to the customer support services.
The price strategies are ones of the most difficult to make as they stand the highest ability to influence the success of the products and the final outcomes for the organization. The decisions which have to be made at this stage refer to the pricing strategy to be impended, the suggested retail price, the volume discounts or the seasonal pricing.
At the level of the pricing strategy, it is recommended that the company implemented a penetration pricing strategy. Through this approach, it would basically forward a low retail price in order to attract customers. Once the customers are attracted and convinced of the high quality for the products, the company ought to move towards a variable pricing strategy. With this, it would implement a retail price which reflects the costs incurred in the manufacturing and distribution of the video games set. It is however expected that the penetration pricing strategy be supported for a longer period of time than normally in order to best penetrate the highly dynamic and competitive market.
The suggested retail price during the implementation of the penetration pricing strategy is that of $2 per individual game in the set. It is at this stage estimated that the first set would integrate 5 games -- either new games or modified versions of the past games, adapted for the mobile telephones. The total suggested retail price for the complete set then would be of $10. In terms of discount prices, these would be offered in the amount of 15 per cent discounts on purchases larger than 5 sets of games. As for seasonability, this is not considered as a viable element and seasonable pricing would not be implemented.
The place decisions refer to the following:
The product would be sold through complex distribution channels, integrating both the personal facilities of Nintendo, as well as the intermediaries, such as the manufacturers of mobile telephones or video game specialized websites
The sale of the video games requires limited logistics efforts, but these would be ensured by Nintendo, or by its partners, as stipulated in each individual contract.
The strategic decisions which need to be made at the level of the promotional campaign are constructed with the aid of the 6M marketing model, specifically: mission, means, message, moment, media and measurement. Before actually engaging in a discussion of these elements, it is important to note that the promotional strategy would be divided into three particular sets of efforts in order to ensure the ability to raise the interest of all three personas.
The mission of the promotional campaign is to familiarize the customers with the new Nintendo games and to generate demand for the games. The promotional campaign would be focused as such on presenting the games from three angles -- fashionable, hi-tech and enjoyable.
In terms of means, these refer to the return on investment to be generated from the plan, specifically the interest of consumers and the demand for the new Nintendo games obvious at the level of all three personas.
The message would be a triple one, as required by each of the three personas. First of all, the first message would…