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Marketing management - Essay Example

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FashionStatementX Name: Institution: FASHIONSTATEMENTX FashionStatementX Corporation markets gaming console in the market such as the Microsoft Corporation’s Xbox games console. This corporation allows users to interact with it while availing a virtual wear to allow a direct interaction…
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Marketing management
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Marketing management

This paper outlines the marketing objectives and analyzes the issues surrounding the sale of the Xbox 360. The Xbox 360 and the PS3 both share a very competitive market. To remain relevant in the gaming business, FashionStatementX needs to have a gadget that competes favorably with the other participating gadgets. Presently in the market, smartphones and tablets now use multiple core processors and graphic chips at higher speeds than before. Intel now uses chips that contain built-in graphics, longer battery life, and faster speeds. It is clear that every company is using advanced technology to survive the competitive software market. In a competitive market production of a product that beats the other competing product to ensure the survival in the market (McDonald, 2007: pg 45). The first marketing objective is to increase the market share of FashionStatementX by 10% per year for the next two years. Increasing the market share will increase the revenue generated in the end. The market is currently very competitive with new gadgets penetrating the market daily (Lacher et al, 2004: pg 67). With an increase of revenue growth by 20% every year, the company will experience an increased market share in the country of 10% by the end of two years. To facilitate this increase, it is important to ensure that there is an improved online order of the gadgets. This is because a majority if the targeted customers purchase the gadgets online and make payments through PayPal and other online means of payments. An increase online order rate of 85% will see the achievement of the desired revenue growth in the end of two years. The addition of new customer accounts will generate at least $75000 in the end of the two years. With an increased market share of 10%, the company will be the leading gaming software with greater revenues after two years (Zichermann & Linder, 2010: pg 123). Another objective is developing and using new products in the development of more effective gaming software. The FashionStatementX enjoys the use of modern and different type of technology as compared to its competitors. The use of hand and finger gesture is a unique technology that puts it above its competitors. In an environment of healthy competition, new products will improve FashionStatementX’s market value and expand relevance for the next two years. To better, the performance of FashionStatementX in the market, frequent upgrading, and use of new developed technology is important (Zichermann & Linder, 2010: pg 189). Therefore, the company intends to use 5% of the revenues generated to finance research and development of software that would help in achieving this. In addition, the company will work closely with other software developing companies to come up with new ideas that will improve the company’s performance in the market. The company intends to create a good company and customer relationship that aims at ensuring that the company meets the needs of the customers. Interactions with the customers will increase since the company will encourage more customers to create accounts with the company. The accounts will create a direct platform in which the customers will interact freely with the company operatives (Bodnar & Cohen, 2011: pg 43). Through these accounts, the customer will share their experiences and to suggest ideas that will make the ... Read More
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