PowerPoint homework on unique files due in 10 hours
Saerii133
market_research-lab9.docxMarket Research
Electronic arts and entertainment is my start-up business plan, and I have thought of this business enough to know what it usually requires and what it takes to start. I have to put in mind how much profit would it make, and who are the customers for this type of business. It is important to calculate the possibilities of a business plan before it starts up.
The electronic entertainment market is a global market. It exists in almost every country of the world. As a start-up business plan, we have to know what the customers need, and what would they prefer, so that we have goals to achieve.
[footnoteRef:1]To sum up this article, it clarifies the video gaming fans’ demands and needs that help building the business structure on what they would like to buy and use. In electronic entertainment and video games, there are different types of consoles. Consoles are the devices used to download and play video games on, and people prefer different types of them. Consoles are commonly PlayStation, Xbox, PC, and smart phones. All of these consoles can download the same specific games in the market of video games. However, each console has its own keys and ways to play and control a video game. Based on these differences people chose what they prefer. “Video game systems are cheap. It would cost you a couple of grand just to match the video-game-play quality of a $ 200 or $ 300 video game console.” The majority of people split between PlayStation and Xbox because they actually were designed specifically for video games, and they are cheaper and easier to use. PC’s and smart phones are mainly designed for other purposes, and they take longer time to download digital games. Therefore, in my business plan I will have to focus on producing games for PlayStation and Xbox users because they are the majority customers of this business.[endnoteRef:1] [1: LexisNexis.com] [1: Why users prefer consoles, (2014, June 23). Received from http://www.lexisnexis.com.ezp.lib.cwu.edu/hottopics/lnacademic/ ]
In the market of electronic entertainment, there are many global companies. In their presence, I might face difficult competition to reach a global level in this market. However, the possibility to succeed as a small company is higher because I will focus on fewer objective and fewer audience.
[footnoteRef:2]To summarize this article, it firstly gave a list of top ten video game companies to work for. It listed ten companies based on a survey of nearly two thousand developers. The developers are expert in this market, and they know which company would meet their demands as employees and workers for this company. Surprisingly, private companies or companies with private ownerships came out to be on top of the list. “Privately-owned Valve takes the number one spot, beating out even the eternal dream of entrepreneurship.” It is clear that private-owned companies provide better working environment and success to their fans and employees. It is crucial to create a good working environment for workers in this market because team work takes a prime part of this particular business, and it’s also important because it attracts developers and workers with skills and experience to develop this business.[endnoteRef:2] [2: Info.com] [2: The most desirable video game companies to work for, (2014, August 21). Received from http://www.forbes.com/sites/insertcoin/2014/08/21/the-ten-most-desirable-video-game-companies-to-work-for/]
In order to reach the objective of this business in this market I have to know who are the audience and fans of this market. When I know exactly who the audience of this market are, the job knowing their demands will becomes easier.
[footnoteRef:3]In this presentation, it states the numbers and statistics of the video gaming audience. [3: MyWebSearch.com]
Purchases of video games are divided equally between males and females, and the average gamer age is about 39 years old. That is due to the fact that more than 40% of gamers are older than 36 years old. It is also important to know the factors that attract buyers to purchase video games. The majority of buyers stated that the quality of the video game is the most important factors to decide whether they would buy the game or not. “21% of gamers said the price was the most important factor in their decision to purchase a video game.” This means that the majority of gamers care about the quality more than the price itself. In America, over half population buy and play video games. It is a big number of fans of this market, and it is expected to grow over the coming couple of years.[endnoteRef:3] [3: 2014 Essential facts about the computer and video game industry. (2014). Received from http://www.theesa.com/wp-content/uploads/2014/10/ESA_EF_2014.pdf ]
In my first essay about starting business, I wrote down the basic ideas of starting this business.
I thought what I have known then was enough to be a complete business plan, and that experience is what it matters the most. Yes, the experience is important, but it is not the main factor to success in the market. However, important factors for this market differ than what I had in plan. The audience demands are crucial because achieving audiences’ expectations will lead to success in selling products. Furthermore, knowing the audience helps knowing their demands. I also realized that competition is big and difficult in this market, but I can succeed as a small business and profit from it then compete in the global market of video games.
