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The US Video Game Market - Essay Example
Author : kubchance
Pages 2 (502 words)
During April 2008, the marketing research firm NPD Group estimates the US video game market is worth $24 billion (Emigh 2008). Comparing its performance from last year, the market is said to skyrocket by 57% notwithstanding the economic recession that the country is currently experiencing…
The rapid technological development in the platform contributes to the video game market. During August 2008, Nintendo Wii console still holds the top notch with sales of 453,000 units (Haskins 2008). On the other hand, consumers purchase 518,000 units of portable Nintendo DS Systems. Next are Sony PlayStation Portable and PlayStation 3 consoles with sold 253,000 and 185,400 units, respectively. Last is Microsoft Xbox with sales of 195,200 during the same period. Looking at year on year performance, Sony's consoles are showing the most robust growth (Haskins 2008).
The market for video games is evolving to become a family oriented activity instead of just being an occupation of hobbyist. The expansion then is through the involvement of more adult gamers. The sale of game product in aged 25-34 jumped by 63.4% from 2006-2007 surpassing the 42% recorded for 18-24 market group (Emigh 2008).
The most suitable project manager for this project should have a strong marketing and economics background in order to understand the issues of the still growing video game market. The knowledge in marketing will enable the manager to analyze trends and their implications together with the movement in demand. Having an in-depth understanding of marketing techniques will enable the manager to interpret where the market is going through an analysis of the strategies employed by competing players. ...