Wk 6 – Social, Ethical and Legal Implications

MAEKETING PLAN –WEEK 2 4

Marketing Plan

Dennis E. Gamarra

Instructor: Meraj Khan

MKT/571 Marketing

February 10, 2020

Marketing Plan

The marketing plan for the Nintendo firm is five years. Due to the relative decrease in its international sales across the board in comparison to its domestic sales margin, the firm has put significant measures to get back to its initial to its glory. The management of Nintendo has secured funding that will inform its marketing plan for the said period. The project on marketing will be pegged on three elements, namely; consumer analysis, identification of market, economic, technological, regulatory, legal, social, and ecological factors. Additionally, potential future threats will be examined (Jones, 2013).

Consumer Analysis

The marketing target for the Nintendo firm is represented with lots of opportunities that need to be exploited. On the contrary, the environment also contains challenges that the management of the company seems to be determined to counter-attack. The field of creation of multiple software, mostly in the video game industry, is what defines the operation of the firm. Hardware, software, accessories, and most recently mobile app industry encompasses this venture.

Identification of Market

The company's target market for its video game products is consumers aged 10-30years. These are categories of teenagers with the liking of video playing. They can only find this kind of magic from the company. The recent introduction of the mobile application will come in handy, especially when they feel to exploit and download other related apps. Furthermore, the targeted group of consumers is demographically represented as playful though conscious of their surroundings. They are a combination of both young and middle-aged individuals.

Nintendo hopes to continue exploiting this avenue to broaden its market share locally. Furthermore, with technology on the rise, the firm will endeavor to identify international markets as a way of having a market niche worldwide. Video gaming has now become a household practice all across the world. Therefore, introducing software and hardware in every region while being controlled from a central place will be paramount. Although Nintendo has, in the recent experience huge losses due to lack of current-generation console, Wii, it opts to bounce back soon. The exploitation of the outside market will be an essential strategy in resource allocation. It, therefore, has a plan to move from Kyoto, japan to Far East Asia, and the Mid-Atlantic States.

Current Threats

Economic factors:

The slight increase in sales from 2015-2016 is a clear indication that the Nintendo company is moving in the right direction (Jones, 2013)... Nonetheless, economic factors such as an increase in currency exchange might be a hurdle. There is a particular client named Delta appliances whose revenue dropped due to unforeseeable economic trends. However, with the information beforehand, proper planning and budgeting will be reprimanded by the management in the future to avoid such an eventuality. Other current threats are duplication of software and hardware, mobile application viruses, and addiction by the consumers.

Potential Future Threats

Technological changes:

Globally, technology has and continues to hit the first list of appreciating trends in the world of marketing. As a party to this effect, the Nintendo firm will go through these particular changes. It is only by this movement that it will remain relevant to the market even as it seeks to secure fast-moving accessories.

Moreover, staying alive to this change will enhance the fast movement of information and, most importantly, its safety. With technology, the firm will benefit tremendously through marketing its products. New applications on mobile phones and its accessories will not go unnoticed by the target market and, indeed, across the world. Other potential threats include poor international regulatory laws-especially when it comes to the disposition of used and damaged video games, competition from other related firms, and unnecessary injunction put by the government. However, the Nintendo organization is hoping to work with the international market bodies beforehand to avoid any friction that may arise.

In conclusion, Nintendo Company's five-year plan will be anchored on international market exploitation. The target market will also involve adults between the aged of 30-35. This plan will aim at broadening the customers' base. Additionally, with the invention of NES classic, a min-version of console released in 1985, the company anticipates growth in gross profit by 10 percent (Jones, 2013)... Therefore, capitalizing on the nostalgia effects while keen to supply products around the world for all generations of game videos player. This marketing plan will come to fruition with a well thought out budget plan execution as prescribed in the rollout plan.

References

Jones, T. (2013). The Surprisingly Long History of Nintendo. Retrieved from

http://gizmodo.com/the-surprisingly-long-history-of-nintendo-1354286257