A Managerial Approach to Marketing
The product that I will be proposing in the meeting will be a video game called FaDream. FaDream’s platform will be connected to the FaDream Game Portal. This website will have a collection of downloadable games for the users.
The users of FaDream will have to get the membership to the FaDream Game Portal in order to gain access to numerous games of all sorts. They will be charged with membership fees every month in order to stay connected. Besides this they will have to get a platform with remotes, virtual gaming equipment, etc.
There have been video games in the past but what makes this one different from the rest is that this video game will only work once it is connected to the internet. It will be linked to a website called www.FaDream.com/gameportal which will have a collection of downloadable games.
People might argue that such technology is nothing new because of the online games present on the internet through the computer. FaDream cannot be compared with online gaming because the experience that the players will get with FaDream will be unmatched. What makes this product new is the quality, availability and variety of games present at all times.
There will be no more hassle of buying expensive CDs from the store and taking care of them. There will be no more hassle of repairing the sensitive lens in the video game platform. All the users will need is the platform and an internet connection. The technology will be successful because of widespread use of internet already all over the world. Another factor which makes this different from everything else in the market is the affordability.
FaDream will be Entertainment with Affordibiltiy. The price of the platform will be a fraction of what is paid for other video games in the market and this is what makes this product is feasible. To be more precise the price range of the platform will fall within $80 to $90 and besides this the membership fees will be approximately $7 per month.
This is all about the product and price of FaDream. This project will be joint venture with XYZ Company which already has a name in the market in order to gain confidence of its audience.
The target audience that we will be satisfying with this technology will be middle class males and females within the age range of 8 to 30 years. The age range is so large because of the variety of games available on the FaDream portal. It has games for every gender and age. It will be advertised in magazines all over the world. Other mediums of advertisement that will be used will be the internet and television.
The logo which will be used for advertisement will be Entertainment with Affordability. After an intense advertisement campaign which will inform the audience about the product, FaDream will be launched worldwide. After this launch, the advertising strategy will be changed and the advertisements will become persuasive. Once the audience has knowledge about the product, they will have to be convinced that they need to have it with them.
In conclusion, this product is totally new in the market and this is its strength but we must not forget that the market has been taken over by very strong competition. Getting people to recognize FaDream from among every other video game will be a threat and a challenge. We must ensure that the marketing strategy that will be employed by us must have no limitations because a good marketing strategy will be our only opportunity.