Scriptz Video
Wednesday, March 20, 2013
Creative Portion
Scriptz Video
Wednesday, March 13, 2013
Week 10 EOC: Promotion without Discounts
How will I promote without coupons? I won't want to use coupons or have a special like ladies night out. However, I will have discounted admission for locals ladies on weekends. Just having admission alone would make this an exclusive lounge for people who would like to pay. It also would cover for people coming in thus already making money for the bar. Ladies will never drink for free however, they will get 2 for 1 drink discounts. As for the guys they will have to pay full price for drinks.
So much emphasis will be put on the drinks really. The drinks will make the most for the bar so I will emphasize mostly on drinks. Then admission. Then food. The rest will come together. On slow nights during the week like Tuesday - Thursday there will be no admission charges. There will be challenges on the menu though.
I would like to incorporate some challenges on the menus. I went to a couple bars in town and I see that there seems to be a challenge on most of their menus. Whether it be a free shirt for eating spicy wings or a meal on the house for eating so much food, I would like to add something like that to it. It would really make people want to partake in the challenge and come in. If they don't complete the challenge then they obviously will have to pay a high marked up price for the meal. So it is a win win situation. If they win the challenge then we take a hit, however they will come back and tell their story for free advertisement. If they don't win the challenge, they have to pay and still will come back to tell their story to other people for more free advertisement.
So much emphasis will be put on the drinks really. The drinks will make the most for the bar so I will emphasize mostly on drinks. Then admission. Then food. The rest will come together. On slow nights during the week like Tuesday - Thursday there will be no admission charges. There will be challenges on the menu though.
I would like to incorporate some challenges on the menus. I went to a couple bars in town and I see that there seems to be a challenge on most of their menus. Whether it be a free shirt for eating spicy wings or a meal on the house for eating so much food, I would like to add something like that to it. It would really make people want to partake in the challenge and come in. If they don't complete the challenge then they obviously will have to pay a high marked up price for the meal. So it is a win win situation. If they win the challenge then we take a hit, however they will come back and tell their story for free advertisement. If they don't win the challenge, they have to pay and still will come back to tell their story to other people for more free advertisement.
Week 8 EOC: Creative Content
Social media is what has been a very popular source for marketing your products. I personally always use either a twitter or instagram to promote my newest and latest videos on youtube that I have worked on myself.
To promote Scriptz I will use the same tactic of using social media. I will create a Facebook page for it where people and customers can express how they like or dislike the bar. Any feedback is welcome. However it will be mainly a place where I would advertise specials on drinks or any upcoming independent film attractions. Since facebook is basically a place where you can advertise everything I will also reach out to others who are not big fans of facebook, like twitter.
Twitter is really big. It's a place where you can spread the word out to a mass without having to mass text friends only. Twitter can be something really special since all of your tweets will be on a feed and not constantly on someones phone as a message or a call. I will also use the latest social media tool of Instagram to advertise as well.
With instagram, it is so easy to get a feel of what your audience likes. All they have to do is double tap the picture they like. The more followers you have, the more you can get your product out there. I could do things like take pictures of specialty drinks and see how many people I can get to like it to measure which drinks I should promote more and price more.
To promote Scriptz I will use the same tactic of using social media. I will create a Facebook page for it where people and customers can express how they like or dislike the bar. Any feedback is welcome. However it will be mainly a place where I would advertise specials on drinks or any upcoming independent film attractions. Since facebook is basically a place where you can advertise everything I will also reach out to others who are not big fans of facebook, like twitter.
Twitter is really big. It's a place where you can spread the word out to a mass without having to mass text friends only. Twitter can be something really special since all of your tweets will be on a feed and not constantly on someones phone as a message or a call. I will also use the latest social media tool of Instagram to advertise as well.
With instagram, it is so easy to get a feel of what your audience likes. All they have to do is double tap the picture they like. The more followers you have, the more you can get your product out there. I could do things like take pictures of specialty drinks and see how many people I can get to like it to measure which drinks I should promote more and price more.
Wednesday, February 27, 2013
Price
Prices are pretty simple
Drinks will vary
$6-$18
Popcorn will vary
$2-$6
Admission on weekends
$6-$10
A company can always increase customer satisfaction by lowering its price or increasing its services. Pg 17
Thus, rather than slashing prices, many marketers are holding the line on prices and instead explaining why their brands are worth it. Pg 27
Drinks will vary
$6-$18
Popcorn will vary
$2-$6
Admission on weekends
$6-$10
A company can always increase customer satisfaction by lowering its price or increasing its services. Pg 17
Thus, rather than slashing prices, many marketers are holding the line on prices and instead explaining why their brands are worth it. Pg 27
Promotion
Promotion
Promotion of Scriptz I will use the same tactic of using social media. I will create a Facebook page for it where people and customers can express how they like or dislike the bar. Any feedback is welcome. However it will be mainly a place where I would advertise specials on drinks or any upcoming independent film attractions. Since facebook is basically a place where you can advertise everything I will also reach out to others who are not big fans of facebook, like twitter.
Twitter is really big. It's a place where you can spread the word out to a mass without having to mass text friends only. Twitter can be something really special since all of your tweets will be on a feed and not constantly on someones phone as a message or a call. I will also use the latest social media tool of Instagram to advertise as well.
With instagram, it is so easy to get a feel of what your audience likes. All they have to do is double tap the picture they like. The more followers you have, the more you can get your product out there. I could do things like take pictures of specialty drinks and see how many people I can get to like it to measure which drinks I should promote more and price more.
So much emphasis will be put on the drinks really. The drinks will make the most for the bar so I will emphasize mostly on drinks. Then admission. Then food. The rest will come together. On slow nights during the week like Tuesday - Thursday there will be no admission charges. There will be challenges on the menu though.
"Promotion means activities that communicate the merits of the product and persuade target customers to buy it" Pg 54
"Developing separate marketing plans for the separate segments requires extra marketing research, forecasting, sales analysis, promotion planning, and channel management." Pg 188
Promotion of Scriptz I will use the same tactic of using social media. I will create a Facebook page for it where people and customers can express how they like or dislike the bar. Any feedback is welcome. However it will be mainly a place where I would advertise specials on drinks or any upcoming independent film attractions. Since facebook is basically a place where you can advertise everything I will also reach out to others who are not big fans of facebook, like twitter.
Twitter is really big. It's a place where you can spread the word out to a mass without having to mass text friends only. Twitter can be something really special since all of your tweets will be on a feed and not constantly on someones phone as a message or a call. I will also use the latest social media tool of Instagram to advertise as well.
With instagram, it is so easy to get a feel of what your audience likes. All they have to do is double tap the picture they like. The more followers you have, the more you can get your product out there. I could do things like take pictures of specialty drinks and see how many people I can get to like it to measure which drinks I should promote more and price more.
So much emphasis will be put on the drinks really. The drinks will make the most for the bar so I will emphasize mostly on drinks. Then admission. Then food. The rest will come together. On slow nights during the week like Tuesday - Thursday there will be no admission charges. There will be challenges on the menu though.
"Promotion means activities that communicate the merits of the product and persuade target customers to buy it" Pg 54
"Developing separate marketing plans for the separate segments requires extra marketing research, forecasting, sales analysis, promotion planning, and channel management." Pg 188
Distribution
Distribution
Distribution within the bar should be quick. Since we don't focus on bar food sales we wouldn't have to stress our fryers too much. Our main focus is on the alcohol. We want customers in and out so we have a higher return for tables and space.
Feedback is also a big thing that I would like to have in the bar. On the website people will be able to tell us how they enjoyed or not enjoyed their time at our bar. It will give us a measurement on how we should cater to our customers.
Market Penetration can spur growth through marketing mix improvements—adjustments to its product design, advertising, pricing, and distribution efforts. Pg 46
"The company also added direct-to-consumer distribution channels, including its own retail stores, Web site, and toll-free call center. Direct-to-consumer sales grew 47 percent last year and now account for more than 11 percent of total revenues." Pg 46
Product
Product
In order to have a successful bar I would have to really differentiate my bar from any other bar. As I said before it will consist of many independent film makers films being shown. That's one way to make it different. It will also serve up food you would normally get a movie theater. Popcorn would be one of them. It is incredibly cheap to make and it will sell.
Drinks will also be involved. Alcohol seems to be a great product to be selling in the bar. It will obviously make the most money so, alcohol will pretty much be the cash cow of the bar.
Bar food will also be included on our menu. However it won't be the focus. It would be available however, and it will be in small portions. The goal is to turn table around quicker so with that said, smaller portions would not only keep costs low but also satisfy the guest adequately.
"To deliver on its value proposition, the firm must first create a need-satisfying market offering (product)" Pg 13
"In positioning its product, the company first identifies possible customer value differences that provide competitive advantages upon which to build the position" Pg 53
In order to have a successful bar I would have to really differentiate my bar from any other bar. As I said before it will consist of many independent film makers films being shown. That's one way to make it different. It will also serve up food you would normally get a movie theater. Popcorn would be one of them. It is incredibly cheap to make and it will sell.
Drinks will also be involved. Alcohol seems to be a great product to be selling in the bar. It will obviously make the most money so, alcohol will pretty much be the cash cow of the bar.
Bar food will also be included on our menu. However it won't be the focus. It would be available however, and it will be in small portions. The goal is to turn table around quicker so with that said, smaller portions would not only keep costs low but also satisfy the guest adequately.
"To deliver on its value proposition, the firm must first create a need-satisfying market offering (product)" Pg 13
"In positioning its product, the company first identifies possible customer value differences that provide competitive advantages upon which to build the position" Pg 53
Target Market Strategy
Target Market Strategy
Our Target is simple. We want college students. It's really a place for a young crowd. Usually I would like to have a place where I could relax and have a drink with my friends and talk about upcoming films with.
Since we are catering to many of the independent film makers we would want to serve them what they are used to being around. Concession stand food! Including popcorn, candy, and soda. Except here you would be able to also get alcohol and bar food.
"The entire company obsesses over creating value for the customer and views itself as a bundle of processes that profitably define, create, communicate, and deliver value to its target customers…. Everyone must do marketing regardless of function or department.” Pg 48
"Place includes company activities that make the product available to target consumers"Pg 54
Our Target is simple. We want college students. It's really a place for a young crowd. Usually I would like to have a place where I could relax and have a drink with my friends and talk about upcoming films with.
Since we are catering to many of the independent film makers we would want to serve them what they are used to being around. Concession stand food! Including popcorn, candy, and soda. Except here you would be able to also get alcohol and bar food.
"The entire company obsesses over creating value for the customer and views itself as a bundle of processes that profitably define, create, communicate, and deliver value to its target customers…. Everyone must do marketing regardless of function or department.” Pg 48
"Place includes company activities that make the product available to target consumers"Pg 54
Situation and SWOT Anaysis
Strengths
Scripts strengths have to be that it is definitely different. It has everything a normal bar would have and it would also provide people with a great place to go. It really caters to the people in the film industry but it would also cater to many people all round in Las Vegas.
Weaknesses
Our Weakness would probably be that we would charge a cover fee. Not many people these days like having to pay cover. However, that could also be looked as a strength. As more and more people like what we provide, the more and more people would just want to come and not care what the price of admission is.
Opportunities
There are different Opportunities that we have as a bar catering to people in the film industry. Its a place where they can go. I know many people who would like to showcase their work but have nowhere to do it and have to wait for a film festival that is a long way in the year and don't have enough people to expose and show it to. Our bar would fulfill that need.
Threats
Obviously the other bars are threats. They are all different. My surrounding bars I'm competing with already have reputations for having a great bar and great people coming in. The only real threat I have is making sure people keep coming in to give us a chance. We don't provide coupons and we charge for admission. People don't really like coupons thrown at their face anyways so we won't force it, however, people would like to see what's new so that would hopefully give us a shot.
"Strengths include internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve its objectives." Pg 55
"Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage." Pg 55
Scripts strengths have to be that it is definitely different. It has everything a normal bar would have and it would also provide people with a great place to go. It really caters to the people in the film industry but it would also cater to many people all round in Las Vegas.
Weaknesses
Our Weakness would probably be that we would charge a cover fee. Not many people these days like having to pay cover. However, that could also be looked as a strength. As more and more people like what we provide, the more and more people would just want to come and not care what the price of admission is.
Opportunities
There are different Opportunities that we have as a bar catering to people in the film industry. Its a place where they can go. I know many people who would like to showcase their work but have nowhere to do it and have to wait for a film festival that is a long way in the year and don't have enough people to expose and show it to. Our bar would fulfill that need.
Threats
Obviously the other bars are threats. They are all different. My surrounding bars I'm competing with already have reputations for having a great bar and great people coming in. The only real threat I have is making sure people keep coming in to give us a chance. We don't provide coupons and we charge for admission. People don't really like coupons thrown at their face anyways so we won't force it, however, people would like to see what's new so that would hopefully give us a shot.
"Strengths include internal capabilities, resources, positive situational factors that may help the company to serve its customers and achieve its objectives." Pg 55
"Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage." Pg 55
Objectives
Objective
This is a statement of specific things a business would want to achieve. So our objective in "Scriptz" is to be the one stop bar for everyone but also give a place to independent filmmakers to network. Some business like to have acronyms for their companies like US Bank has S.T.A.R.T or Vdara Hotel has O.W.N. it. It is really all about having specific and achievable goals. The objective would state what the bar wants to not only achieve but gauge what they have already achieved in the past. Have a realistic goal in a realistic time frame.
Scriptz objective will be called A.C.T.I.O.N. (Active, Connecting, Timely, Interacting, Obtaining, Networking) It will be real easy to remember and also have a goal that everyone will want to have while working within the company.
"As with the other promotion tools, in considering when and how to use product public relations, management should set PR objectives, choose the PR messages and vehicles, implement the PR plan, and evaluate the results." Pg 406
"The company’s objective must be to manage “profitable growth.”" Pg 45
This is a statement of specific things a business would want to achieve. So our objective in "Scriptz" is to be the one stop bar for everyone but also give a place to independent filmmakers to network. Some business like to have acronyms for their companies like US Bank has S.T.A.R.T or Vdara Hotel has O.W.N. it. It is really all about having specific and achievable goals. The objective would state what the bar wants to not only achieve but gauge what they have already achieved in the past. Have a realistic goal in a realistic time frame.
Scriptz objective will be called A.C.T.I.O.N. (Active, Connecting, Timely, Interacting, Obtaining, Networking) It will be real easy to remember and also have a goal that everyone will want to have while working within the company.
"As with the other promotion tools, in considering when and how to use product public relations, management should set PR objectives, choose the PR messages and vehicles, implement the PR plan, and evaluate the results." Pg 406
"The company’s objective must be to manage “profitable growth.”" Pg 45
Business Mission Statement
A mission statement is a brief, short statement that aims the values of a company, organization, or individual. The Mission statement for my bar will be:
"Our mission is to make Scriptz your preferred bar destination in Downtown Las Vegas. We deliver outstanding service and quality beverages to make us your one stop bar. We believe in not only serving the people of Las Vegas, but also our creative individuals."
Pg 39 quotes:
" A mission statement is a statement of the organization’s purpose—what it wants to accomplish in the larger environment. A clear mission statement acts as an “invisible hand” that guides people in the organization."
Pg 41 quotes:
"Mission statements should be meaningful and specific yet motivating. They should emphasize the company’s strengths in the marketplace. Too often, mission statements are written for public relations purposes and lack specific, workable guidelines."
"Our mission is to make Scriptz your preferred bar destination in Downtown Las Vegas. We deliver outstanding service and quality beverages to make us your one stop bar. We believe in not only serving the people of Las Vegas, but also our creative individuals."
Pg 39 quotes:
" A mission statement is a statement of the organization’s purpose—what it wants to accomplish in the larger environment. A clear mission statement acts as an “invisible hand” that guides people in the organization."
Pg 41 quotes:
"Mission statements should be meaningful and specific yet motivating. They should emphasize the company’s strengths in the marketplace. Too often, mission statements are written for public relations purposes and lack specific, workable guidelines."
Week 8 BOC: Progress on My Final Project
So far on my project I am on the brainstorming portion of it. It will be located downtown Las Vegas. It will be also named "Scriptz". I am still trying to figure out how the bar will be making money. Obviously the bar will be serving alcohol however I'm trying to figure out how to bring people in to my bar and not just any other bar. I'm also trying to figure out how to differentiate my bar from the ones already located downtown. I will be having to compete with a great idea of Insert Coins which is a "bar-cade" and a urban bar like Common Wealth which is always bringing people in. So I'm just trying to figure out how to be different basically.
My bar will be catering to everyone but also want to bring in people in the film industry so that many of the independent filmmakers will have a place to go to network. I always wanted to go to a place where I could network with many filmmakers and not just when a film festival is being celebrated. I want a place where I can serve people refreshments but also showcase hard work that people have created on screen.
My bar will be catering to everyone but also want to bring in people in the film industry so that many of the independent filmmakers will have a place to go to network. I always wanted to go to a place where I could network with many filmmakers and not just when a film festival is being celebrated. I want a place where I can serve people refreshments but also showcase hard work that people have created on screen.
Tuesday, February 26, 2013
Week 7 EOC: The Pitch
My ideal bar will be different from any regular bar. It will not only serve alcohol but also serve what you would normally get at a movie theatre, that being Candy, Popcorn, Soda, etc. The bar is an independent movie bar. It will cater to many of the independent filmmakers of Las Vegas or around the world for that matter. It will be a place where many people from the industry can connect and network with. During the week it will showcase different films and shorts that independent filmmakers have made and want to show. During the weekend it will be a place where everyone can come to entertain and talk about films that have been shown. It will only show independent films and nothing that has been produced in Hollywood. Not many filmmakers have a place to network with so this will be a place they can do that. It will be located downtown Las Vegas and it will be for everyone to come to entertain friends and family but mostly people within the industry including of age students.
The bar will make money off of the traffic of the bar and location. It will also make money off of showcasing the independent films. Students with proper identification can get a discount on drinks. Ladies will get two for one drinks on weekends. General pricing for gentlemen at all times. The bar will also hold special occasion sporting events (SuperBowl, NBA Finals, Etc.) It will still serve everyone, not just people in the film Industry.
The bar will make money off of the traffic of the bar and location. It will also make money off of showcasing the independent films. Students with proper identification can get a discount on drinks. Ladies will get two for one drinks on weekends. General pricing for gentlemen at all times. The bar will also hold special occasion sporting events (SuperBowl, NBA Finals, Etc.) It will still serve everyone, not just people in the film Industry.
Tuesday, February 19, 2013
Week 6 EOC: Items that describe me
I'd say the three items that describe me is my
iPad, My Watches, and My Extensive Blu ray Collection. I chose these three
items because all of these are valuable to my everyday life.
My iPad is for many things. I use my iPad to do
homework, look things up, and even write my scripts when I have free time. If
it weren't for my iPad, I probably would not know what to do to pass the time
by. There are just so many things I could do with it including communicating
with friends, connecting on social media, and even catching up on some shows I
missed over the weekend. That is why I feel my iPad is indeed a big part of me.
Another part of me is my watches. I have never
owned a watch as a child and growing up I always felt a man should have one. As
soon as I got my first job I bought a watch, as time went on I expanded my
collection and always have a watch to wear to an event, work, or just casual
day off.
The last item or items I should say is my Blu ray collection. As a film
student and professional I constantly look back at my favorite films for
inspiration. It has become a big part of my life to watch films and constantly
look for more films to add to my collection.
Wednesday, February 6, 2013
Week 5 EOC: Superbowl Ad
I feel that the Samsung commercial that featured to very comedic actors of Paul Rudd and Seth Rogen was very successful. You heard what the company was and you saw one product from Samsung on the table. They managed to add the company and a product without really saying much about it. Adding the two comedy stars I believe helped the commercial out immensely to add not only humor but also something to remember it by.
SBnation.com's Randy Booth states "Was Samsung's Super Bowl commercial better than its teaser? Maybe not. Regardless, Samsung came out of Super Bowl XLVII with one of the better commercials." By adding the funny people are now able to remember these commercials and even have a nice pitch to it with saying "The Next Big Thing" by Samsung.
The commercial did cost a lot but it did rake in many viewers. "With the commercial checking in at over two minutes long, plus with Rudd, Rogen and James being the stars, the commercial cost $15 million." I'd say it was well worth it since I did not care much for what they were selling but still was interested because of who was in it and I was able to remember who it was that made the commercial.
SBnation.com's Randy Booth states "Was Samsung's Super Bowl commercial better than its teaser? Maybe not. Regardless, Samsung came out of Super Bowl XLVII with one of the better commercials." By adding the funny people are now able to remember these commercials and even have a nice pitch to it with saying "The Next Big Thing" by Samsung.
The commercial did cost a lot but it did rake in many viewers. "With the commercial checking in at over two minutes long, plus with Rudd, Rogen and James being the stars, the commercial cost $15 million." I'd say it was well worth it since I did not care much for what they were selling but still was interested because of who was in it and I was able to remember who it was that made the commercial.
Week 4 EOC: Creating an App
If there were an app that I could create it would probably be one that could make my meals for me. I could set up a time the night prior or schedule it somehow to make it easier for people like me to eat breakfast at a timely manner rather than not eating breakfast at all. People these days don't eat breakfast and if they do its usually from a fast food window which is something we should really stay away from. Since there are apps for everything else nowadays I feel this is something that should be looked into.
As far as this app being developed the only thing I see even remotely close to it is a game app where you would make someones breakfast in a timely manner to retrieve a high score on the Android Market. Another app that is close to it is the Breakfast Recipes. Even though it doesn't make the food or breakfast for you it shows you how to make some yourself.
I just don't think we're at the level of technology quite yet where we have something just create food for you without some kind of human intelligence. I think there are so many apps out there that could possible make a timely maybe alarm to help you eat breakfast or create some kind of chart, however when it comes to making your food it might be still far away. Now if you maybe cook the food the night prior and place it in the microwave and have the app heat up the food while you're probably still in bed it may work out. Something along the lines of just having an app that helps people eat breakfast daily would help many immensely.
As far as this app being developed the only thing I see even remotely close to it is a game app where you would make someones breakfast in a timely manner to retrieve a high score on the Android Market. Another app that is close to it is the Breakfast Recipes. Even though it doesn't make the food or breakfast for you it shows you how to make some yourself.
I just don't think we're at the level of technology quite yet where we have something just create food for you without some kind of human intelligence. I think there are so many apps out there that could possible make a timely maybe alarm to help you eat breakfast or create some kind of chart, however when it comes to making your food it might be still far away. Now if you maybe cook the food the night prior and place it in the microwave and have the app heat up the food while you're probably still in bed it may work out. Something along the lines of just having an app that helps people eat breakfast daily would help many immensely.
Wednesday, January 30, 2013
Week 3 EOC: My Demographic
My
demographic is apart of the Generation Y generation. It is also knows as the
Millennial generation. We pretty much follow the Generation X demographic. They
range from births of the early 1980’s to the early 2000’s. Mostly we are
children of the X generation.
As
part of this generation we were exposed to technology most of our lives so
naturally we are very Tech Savvy. Our generation also chooses to be with family
more rather than the work place. We are also achievement oriented where we are
not afraid to question authority and very confident in things we do. Millennia’s’ are also team oriented. We love
to play team sports and support many team activities as part of a no person
left behind generation we are loyal. We also crave a lot of attention; we love
getting feedback and need the guidance. We benefit from mentors who like to
guide during the young part of our careers.
Week 3 EOC: Making Money For Good
There are many good companies out
there that make money off of not only their products but for giving back as
well. TOMS is a great company that does that, for every shoe that they sell the
give a pair to people who don’t have any shoes somewhere across the world. They
have also expanded in giving “sight” to people in need. TOMS gives prescription
glasses for every pair of sunglasses you purchase from them to people across
the world who don’t have access to eye doctors to gain glasses.
A company similar to TOMS is one
called One Laptop Per Child. It’s a company that gives a laptop to kids who
wouldn’t have access to a laptop to places like Paraguay, Peru, Afghanistan,
and many more. This company has made it possible for kids who don’t have
laptops to obtain them to better themselves and in their education. For every
laptop purchased they give one back to a child in need.
Not only do companies make a
difference but there are also celebrities that want to give back. Mark Wahlberg
is a great example. He has always had a youth foundation that his family ran.
Wahlberg states "I
wouldn't be able to sleep at night if I had this amazing life and didn't give
back." So while his family runs the youth foundation his line of nutrition
also gives back to the foundation. Marked Nutrition donates proceeds back to
the foundation to help young kids in his community.
Target is the last company I’d like to talk about. They
have been giving back to their community for the longest time. They have stores
everywhere and they always give back to their community. They donate up to 5%
of their profits to the communities, which adds up to about $4million a week.
They not only help communities but also help their team members and the team
members help the community.
Wednesday, January 16, 2013
Week 2 EOC: Boston Consulting Group- Video Games
The Video Game Industry seems to be slowly declining based
on many of the website postings on the information many of the sources are
saying. Companies like Sony and Nintendo are seeing a slight decline in console
sales. Many of the companies do not want to lower the price of their consoles
but seemingly have to due to the weak sales. Microsoft and Sony seem to be
dropping the price of the PS3 and the XBOX 360 by at least $100. Notably
Nintendo doesn't seem to be budging on their console of the Wii with a steady
price of $250, however, they are bundling other games with it to attempt to
sell more consoles.
Also declining in the sales are the stores that are actually
selling the products. Stores like Game Stop are seeing a decline as well. There
just doesn’t seem to be a demand for games at the moment. They want to open
more miniature stores during the holiday have to aim more at the younger
generations.
It would also seem that apple has a lot to deal with the
decline of the video games nowadays. When it came to video games, it was a hot
commodity to purchase these ridiculous games at either $60 to $70 a game. Now
that Apple has entered the game it would seem they have the edge since the
games are around the 99cent and free categories.
“Oct. 26: GameStop Corp. says it plans to open about 80
holiday stores aimed at younger kids. The stores will feature video games,
accessories and licensed products for younger kids. This includes Activision's
"Skylanders," as well as "Angry Birds" toys and mugs and
the Lego series of video games.”
http://finance.yahoo.com/news/video-games-industry-faring-225521741.html
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