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The Concept Market Environment - Coursework Example

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The present coursework entitled "The Concept Market Environment" deals with the market environment which consists of the outside forces which influence the ability of the marketing management to successfully maintain relationships with target clients…

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Subject: Marketing
Type: Coursework
Level: High School
Pages: 2 (500 words)
Downloads: 3
Author: ivarussel

Extract of sample "The Concept Market Environment"

Market environmentMarket environment consists of the outside forces which influence the ability of the marketing management to successfully maintain relationships with target clients. Both macro and micro economic factors affect the market environment. Macro-economic factors affecting the market environment are the demographic, natural, economic and social factors. Micro economic factors affecting the market are short term factors like competition, mergers & collaborations etc. 1-Current Economic Situation Nintendo is one of the most successful companies as far as video games are concerned.

In fact, most people must have played Mario – a very popular video game developed by this company. However, the current economic scenario needs this organization to branch out into online multiplayer gaming community. However, Microsoft has already established its superiority in this branch of online gaming and to remain in market Nintendo needs to act speedily in order to develop a multiplayer online game. 2-Competitors The immediate competitor of Nintendo is Microsoft and it is one of the threats of this organization.

The firm needs to carefully conduct a SWOT analysis and accordingly develop and implement a strategy to compete with Microsoft. The current market environment requires this organization to carefully chart out and follow an action plan, work towards its hurdles and pave the path to successfully launch a product to remain in the market. If such aggressive market plan and product is not developed and implemented, the company will not be able to compete with Microsoft. The company has previously failed to compete with Tomy and Bandai – two well-known Japanese toy companies.

3-Competing Products Nintendo has to face its competitors especially Microsoft. One of the products making waves in the market is the development of online multiplayer gaming community. Also Microsoft is far ahead of Nintendo especially in the video game console market as it has always been the superior force with Xbox live. Nintendo needs to concentrate on focusing on its product development as it needs to come out with a sophisticated, easy to use, social product. This is one way to remain in the market and to compete with rival firms like Microsoft.

Another good online multiplayer gaming product was the Super Smash Bros: Melee. Nintendo’s gaming product could not match this one. 4-Legal Issues that relate to the Product Nintendo also have legal issues related to its products. One of the serious issues faced is that of counterfeit Nintendo products. Nintendo has recently announced the launch of new portables and consoles and the firm is trying to establish its hold in the gaming market by striving to launch sophisticated products. This has resulted in the creation of funny mock products which are available in the market (geekosystems.com). Other legal issues affecting the product are those of trademarks, copyrights and patents.

Nintendo is very particular about its intellectual property rights and seeks to protect them aggressively. 5-Social issues that impact the success of the productNintendo Entertainment Systems is a household name and is popular all over the world. Most children have grown up playing the famous video game Mario. Nintendo has successfully developed a household market as far as video games are concerned. Even today, the company has dedicated customers and most people care for the brand loyalty that the company has successfully established.

This is one of the key issues needed for a product to be successful. However, Nintendo must try and woo customers to try their new and sophisticated products especially in the online multiplayer video game console. Another issue which Nintendo must pay attention to is to retain the chunk of loyal customers and at the same time take into consideration wooing new customers for its products. Works Cited15 funny Nintendo product mock ups. Geekosystem.com, Geekosystem, 6 Apr. 2011. Web. 22 June 2011

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