Marketing Strategy – Kick It Home! Video Game
Essay Preview: Marketing Strategy – Kick It Home! Video Game
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Defining the Opportunity
a) Our prospect consumers are parents buying the product for their children. We have determined this by analyzing the report “Kids Sports” by Warren Clark. We extracted from the report that 20% of all young kids in Canada play soccer. The trend is growing. However, in general sports participation is declining steadily over the years. As people shift away from outdoor activities, we see an opportunity to develop and indoor interactive soccer game that provides fun and exercise. The parents play an important role in involving their children in physical sports, as we see from the statistics if both parents who are fully employed full time, their time to involve kids in sports is reduced by 8% compared to parents who work part-time. Their lack of time to involve in sports creates a demand for home-based, time-saving exercise devices. Also, the report suggest that family with both parents working full time are more likely to be in the top household adjusted income quintile, thus having more disposable income to be spent on convenient and home-based exercise. When the market is segmented, 40% kids of well-off families (parents with higher education and higher income), do not participate in sports. There is a big market of children from families with disposable income but does not participate in sports.
b) By addressing the needs of children and adults who want to experience participate in the popular sport soccer, we see an opportunity for a product in an existing market. On the other hand, the growing problem of childhood obesity is a concern of many parents, and our product address those worries and provides a fun and effective solution.
2. Product Concept Statement
“Kick It Home!” is an exciting interactive soccer video game developed for the Canadians and people worldwide. The product is easy and practical to use, because it consists of a single-game console including a simulation soccer ball set on top of a platform used in junction with a television set. “Kick It Home!” is a stimulating device provides quality time for family with kids and promotes a healthy life-style. This brand new product allows the users to experience real physical exercise in a family atmosphere at any occasion.
(For what it looks like, please refer to appendix 2).
3. Dimension of the Potential Demand
In attention to the potential demand that “Kick it Home!” can afford our product, we address to the Canadian population, targeting the high income households. According to statistics Canada, from households with higher incomes, 51% of two parent households spent money sports and athletic equipment, with their average amount being $579. Having it determined it from information provided by StatsCan (Appendix 1); it is projected that the possible demand could reach the 2,875,940 units, not to overlook this number will be much higher worldwide. Taking a deeper examination, this number is derived from adding up households with incomes above $60,000 and assuming that each has the ability to purchase at least one console.
4. Achieving Competitive Advantage
The growth strategy of “Kick it Home!” can be achieved by exploring an existing market with a new product, which means Product Development Strategy. Using the SWOT Strategy Matrix, the opportunities and threats can be explored in detail, looking at the outside of the company. On one hand, the threat of the company could be that the competitors may sell similar products and the products are comprehensive sports gaming console. On the other hand, our opportunities lie in the fact that we offer a much cheaper product because it is a single game portal that eliminates the huge console development cost. The game console is easy to use and it is focus on one sport. Knowing that “Kick it home!”s competitors consoles allow the choice of many games, this can also be considered as a disadvantage to the consumers paying a higher price for the initial console itself. Although the computer market is worldwide exploited, we must not overlook that “Kick it Home!” will be introduced in an emerging market of the growing soccer trend in Canada. This fact, coupled with the innovative idea of a single game in their characters, manages to create the imminent need for consumers and therefore reach the opportunity of making