GAME STOP Business Plan
Question
The company that the business plan is over is GAME STOP. Please only complete the following sections: industry and marketplace analysis, marketing strategy, operations


Solution
Target
Market Strategy
The
main target market for GameStop is gamers from all parts of the world. To reach
its target market, GameStop has consistently been expanding to other cities and
countries. This will ensure they reach their target market.
Product/Service
Strategy
GameStop's
marketing strategy is based on the marketing mix framework, which entails the
four Ps: product, promotion, price, and place. There are several ways
GameStop uses to advertise a product. For example, the use of price and
innovation and promotion. Marketing mix-based business practices help GameStop
prosper. Using GameStop's marketing strategy, the company can position itself
competitively in the market and meet its business objectives and goals.
GameStop is an American retailer of video games and consoles.
Pricing
Strategy
The
pricing strategy used by GameStop is that which considers the types of
customers. The dominant one used by GameStop is value-based pricing. The
company charges its products depending on the value the products give.
Distribution
Strategy
It
aims to build a store in India and China because of the high demand there.
GameStop has an excellent distribution network because of its large number of
outlets. For those who like to buy games online, GameStop has made its website
fully functioning with the expansion of the internet.
Advertising
and Promotion Strategy
Using
its website, GameStop offers merchandise for purchase by customers all over the
world. In the United States, Australia, Canada, New Zealand, the
Americas, and Europe, it has almost 4000 locations.
Sales
Strategy
GameStop
generally focuses on DVD-based video games for gaming consoles such as the
Xbox, PlayStation, and PC. The games are diverse From Super Mario Bros. to
Battlefield. GameStop is not the publisher of the games it sells; instead, it
serves as a retailer in its marketing mix. It also carries a variety of other
things, like superhero memorabilia, card and board games, and bean bags, in
addition to video games. It sells speakers, smartphones, smartwatches, tablets,
TVs, and monitors in the consumer electronics market. Rhino Games, EB Games,
and ThinkGeek are among its subsidiaries.
Marketing
and sales forecast
GameStop
has partnered with Microsoft. Microsoft's cloud technologies and consumer
devices will be used to streamline GameStop's business processes, creating the
best gaming destination for players in the company's aim to become the
primary omni-channel consumer access point for video game products. This will
attract more customers from the Microsoft side, thus boosting sales.
Industry
Analysis
As
a video game software and hardware shop, GameStop is one of the most
popular. The firm also owns Kongregate, a browser-based game portal that allows
gamers to play smaller games. Microtransactions, which are tiny transactions
within the games, are how Kongregate gets the money. GameStop sells new and
secondhand console software and hardware, as well as new computer-based games.
More than 6,500 GameStop stores can be found worldwide, and the company also
has a website from which further sales may be made. At number 262 on the
Fortune 500, it's a giant in the gaming business. Retail giants like Wal-Mart
and Best Buy are its biggest rivals, as they also offer the same blockbuster
titles. The margins GameStop Corp. may earn in the market might be decreased by
suppliers in a dominating position. Powerful service providers use their
negotiation influence to raise the pricing of electronics store businesses. As
a result of increased supplier bargaining strength, electronic stores' total
profits are reduced.
Marketplace
Analysis
More
than 30,000 people are employed by GameStop, either directly or indirectly,
through its retail locations. The vast majority of employees may be found
working in the establishments. They are assessed on their knowledge of video
games and consoles before being hired for the position. Providing workers with
the opportunity to play games at home motivates them to stay up-to-date on the
newest releases. Because they can talk about their experiences, loyal customers
are drawn to businesses with happy personnel.
The
Market
GameStop
is a logical choice for gamers, as it is the only specialized video game store.
Its website is used for most promotions, including gift cards, weekly
advertising, discounts, and bargains. Powerup Rewards membership gives you
additional advantages based on how much money you spend at GameStop. Consumers
may also pre-order games before they are released. Some goods are only
available at GameStop. Teens and young adults are the primary markets for
GameStop items.
Market
Trends
Competitive
prices are offered for pre-owned and reconditioned gaming equipment. It has a
competitive pricing approach for video games. Because most GameStop's customers
are under the age of 25, they cannot purchase games online; thus, they choose
to buy them at a brick-and-mortar location. Customers have the option of
reselling their DVDs to recoup some of the cost of the game they just played.
Operations
of GameStop
Operations
Strategy
GameStop
is a United States-based retailer of video games and electrical products that
was established in 1984. The company operates both offline and online. In addition, the company sells video games.
GME is the ticker symbol for the corporation on the New York Stock Exchange.
Scope
of Operations
GameStop
has its headquarters in Texas. However, its operations are spread throughout
other cities and states in the United States. They produce a monthly video game
magazine called Gaming Informer that has reviews of new games, tips and tricks
for older ones, and news about the electronic game business. GameStop's loyalty
card is included with each paid membership, which gives subscribers a discount
on certain products. www.gameinformer.com, the world's leading source of
real-time gaming news and reviews, is also operated by the company.
Ongoing
Operations
It
also owns Game Informer, a video game magazine, in addition to its video game
retailing company. Babbage, NeoStar Retail, Babbage, and Barnes & Mobile
amalgamated with GameStop, which created this corporation. "Power to the
Players" is the company's catchphrase. The Electronics Stores business is
fiercely competitive, and GameStop Corp. is no exception. This competition
harms the long-term profitability of the company.
Operating
expenses
More than 22,000 full-time workers and the same
number of part-time workers work for the company, with a net worth of $5
billion and expenses of




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