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Existing Brand with extended Strategy on

  • 15 Pages
  • Published On: 18-11-2023
Existing Brand with extended Strategy on

Executive Summary

The aim of the new research primarily focused on Xbox- 360 made by Microsoft. That is one of the world's most popular video-games inventions. The chosen new brand, Xbox-360 was identified and analyzed using the secondary method of research on existing European video games market with the assistance of the franchise model business entry style. With far more options and a lower prices approach, Xbox-360 has been well -established as an international brand. In addition to making the product popular, the company should look forward to targeting United Kingdom's entertainment conscious people between 16-50 years.

Introduction

Xbox-360 is a good brand example of a video-game. It's Simon Sinek's first example of why, how and when in his Golden Circle System. Xbox-360 produces elegant, creative computers that you have seen and sell to their customers. They are different. Xbox-360’s message gives the customers the same characteristics as Xbox-360's products: you are revolutionary, imaginative and artistic if you were an Xbox-360 person. Like Tesla, Xbox-360 deducts price from its identity and concentrates instead on the importance of its goods and their ties with its clients.

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Research Methodology

Secondary research has been conducted and pragmatic research methodology is used to evaluate many decision-making by corporations internationally or globally to sell a brand or product.

Findings

Existing brand and brand values

Kapferrer’s Brand Identity Prism Considering the above academic model of prism, the concept of the chosen brand of Xbox 360 has been evident in its physical features of having power control high resolution capacity (Brand extensions favored by shoppers | WARC, 2020). It’s an essential advantage in this well-established brand allows customers to quickly connect and manage products which remain in keeping with the requisite technical innovations in contemporary days (Ross 2020). On the other hand, its personality tells that it contains certain elements that can be its attractive strategy for customer retention (MerlinOne. 2020). It had mainly targeted the audience of middle age as well as young aged men fond of playing the games for digital pleasure. Customer self-reflection has on its functionality works like online multiplayer.

Description of the target market

XBOX Users in the Target Market UK

Market segmentation

Recognition of market segmentation is an important element in implementing a marketing plan that is usually achieved by a geographical, regional, socio-economic that behavioral division of industry. In the sense of the competitive activity, the target market is defined (Parliament et al., 2020).

Market targeting

This will be appropriate for the population of Xbox-360 to use a particular targeting approach to take into account the consumers' motives and preferences, and according to the segment selected (Gupta and Rajan 2020). It would be better for both Xbox-360 groups if it were to focus on assets and follow the requirements of a narrowly defined business sector rather than allocate wealth through various markets.

Market positioning

Process of Getting Positioned in the market of XBOX 360

In addition, the price in United Kingdom will vary from that in US, with additional differences in line with domestic consumables trend (Islaini and Nayan, 2020). In addition, Xbox-360 would need to incorporate standardized and unstructured data as well as a lower cost component to its competitive advantage.

Analysis of the new Market

PESTLE

Economic analysis

  • 2nd world's most grounded market.
  • World's most noteworthy buying power market.
  • Marginal charge pace of 15 percent for equipped enterprises (CIA, year 2020)
  • One of the nations that pays the most minimal wages given to representatives.
  • As the second world's biggest economy, United Kingdom would likewise give Xbox-360UK a brilliant interest for technological meat merchandise. The 15 percent charge execution is most likely little taking into account the current area and future income (Sreenivasan et al., 2018).

Socio-political analysis

  • largest merchandise and ventures market on the planet.
  • Buying and selling intensity of providers is high for every resident.
  • 17% expansion in technological utilization foreseen in United Kingdom

Technological Analysis

  • includes the most noteworthy on-line client in the worldwide economy.
  • Local Engineering and Innovation pioneers most noteworthy on the planet.
  • Highest Developments in the innovative world.
  • Xbox-360would be the world's driving innovative work provider with the best video-games network in the century.
Grid on Ansoff’s Matrix Based on this grid, it has been acknowledged that market penetration not so high in UK target market for games are concerned. In this regard, the marketing team needs to have effective approach on market development as well as product development element for attracting the targeted age-group of customers.

Explanation of the new product

Tauber’s Brand Extension Options

According to the mentioned strategy of extension of the XBOX 360 Brand in computer Games industry, it can be recognized that the market requires always segmentation that is usually considered under brand management strategy and recently working on highly confectionary market (Eprints.leedsbeckett.ac.uk. 2020). Hence, the management needs to consider the positioning strategy on placing it on a stable surface of a market.

Product Packaging

The end buyer plans to pay the right price for purchasing a product. It depends mostly according to what the customer finds interest, for example, when the expense is higher than the economic benefit, the purchase of the commodity will then decrease (Hood et al., 2020). In comparison, United Kingdom will be greatly improved to produce hygiene products for Xbox-360s.

Choice of Brand name and choice of Brand positioning

The method of distribution to customers is defined in this item. The strategy of positioning reacts dramatically to the correct trade channels for a certain commodity. Informal distribution is the mechanism by which Xbox-360 provides end users with the goods (Eprints.leedsbeckett.ac.uk. 2020). The emphasis here is on the study of different company contacts and marketing strategies. Brand recognition, sales promotional deals, advertisements and marketing campaigns can be included.

Competition Analysis

Bargaining power of suppliers

The Providers are closely aligned with customers regardless of obligation (Goal 2020). Influential and cooperative suppliers typically have good negotiating authority for Xbox-360 and competitive rates from the companies in the UK's area of knowledge video-games. Gaming Market in UK Buyers really appreciate the channel kit from Xbox-360 because it's launched the most stable and reliable over the years. Through contrast, the key factor to which customers stick to the business in the face of other tech giants' OPS is security (Darwood and McNamara, 2018). The security continuously creates trading resources.

Substitution of Products and Services

Small operations related to Xbox-360 involve new checks, either offline or in the controlled digital operation. This external information weakens the task of replacing the business. Even though equal capital changes help foster substitution, such external reality as an adequate replacement is not very necessary (Vincent et al., 2017).

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Conclusion

The UK Video games Sector has demonstrated solid potential for coping with existing inflationary challenges and British Video games now is on track to be the UK's new leader with a virtual business trend. Much of the Xbox-360 stock and share price are stable. English Telecommunication is probably the biggest media transmission and headway enterprises in the globe, utilizing cutting edge innovation to build up an ideal worldwide IT structure and transmission framework. Thus, Xbox-360 has stretched out its organization to the abroad nations and can adjust to accomplish near advantages and increment its income.

References

Aaker, D.A. and Keller, K.L., 1990. Consumer evaluations of brand extensions. Journal of marketing, 54(1), pp.27-41.

De Waal, G.A., 2016. An extended conceptual framework for product-market innovation. International Journal of Innovation Management, 20(05), p.1640008

Eprints.leedsbeckett.ac.uk. 2020. [online] Available at: [Accessed 2 November 2020].

edisongroup.com. 2020. [online] Available at: https://www.edisongroup.com/wp-content/uploads/2019/02/UK-video-games-General-Heterogeneous-not-homogeneous.pdf [Accessed 2 November 2020].

Hood, N., Urquhart, R., Newing, A., and Heppenstall, A., 2020. Sociodemographic and spatial disaggregation of e-commerce channel use in the grocery market in Great Britain. Journal of Retailing and Consumer Services, 55, p.102076.

Islaini, M.A.A., and Nayan, SM, 2020. The Role of Price in the Marketing Mix. Journal of Undergraduate Social Science and Technology, 2(2).

Jindal, P., Zhu, T., Chintagunta, P., and Dhar, S., 2020. Marketing-Mix Response Across Retail Formats: The Role of Shopping Trip Types. Journal of Marketing, 84(2), pp.114-132.

Johnson, S., Robertson, I., Cooper, C.L., Dickinson, J., and Jones, N., 2018. Mc'donalds Bank Wellbeing Case Study. In WELL-BEING (pp. 179-188). Palgrave Macmillan, Cham.

Linton, K., 2016. The importance of trade secrets: new directions in international trade policy making and empirical research. J. Int'l Com. & Econ., p.

MerlinOne. 2020. What Is The Brand Identity Prism (And How To Leverage It) - Merlinone. [online] Available at: [Accessed 2 November 2020].

mordorintelligence.com. 2020. [online] Available at: https://www.mordorintelligence.com/industry-reports/global-games-market[Accessed 2 November 2020].

Rahman, M., 2019. PESTEL analysis of Germany.

Ritzel, C. and Kohler, A., 2017. Protectionism, how stupid is this? The causal effect of free trade for the world’s poorest countries: evidence from a quasi-experiment in Switzerland. Journal of Policy Modeling, 39(6), pp.1007-1018.

Rosnizam, MRAB, Kee, D.M.H., Akhir, MEHBM, Shahqira, M., Yusoff, MAHBM, Budiman, R.S., and Alajmi, A.M., 2020. Market Opportunities and Challenges: A Case Study of Mc'donalds. Journal of the community development in Asia, 3(2), pp.18-27.

Support.xbox.com. 2020. Xbox Support. [online] Available at: [Accessed 2 November 2020].

statista.com . 2020. [online] Available at: https://www.statista.com/statistics/680526/global-xbox-gaming-consoles-unit-sales/ [Accessed 2 November 2020].

Warc.com. 2020. Brand Extensions Favoured By Shoppers | WARC. [online] Available at: [Accessed 30 October 2020].

Xbox.com. 2020. Xbox One Backward Compatibility List | Xbox. [online] Available at: [Accessed 2 November 2020].

Appendix

Data bases Collected

edisongroup.com edisongroup.com
Sitejabber
Google Review
Yell

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