Guided by market demand, producing quality products on the right track
Market demand is the wind vane of producers. It should be noted that on the basis of market research, combined with their own conditions, the production of high-quality products on the market. For example, if a game is popular, GameStop should launch more of its peripheral products and bundle it. GameStop can offer deals on these games to sell them quicker than competitors and make consumers happy that they get a benefit from GameStop that they dont get elsewhere.
Grasp the best time to market
When many of the same products simultaneously enter the market, the demand for consumers does not expand at the same time, so there will be a backlog of some products. This will bring losses. Since most entrepreneurs do not have strong regulatory capabilities, they often become victims. When a new game appears, GameStop can cooperate with the game company in advance and promote it in the GameStop store in advance. In return, GameStop can ask the game developer to let them sell the game before other competitors which will increase sales and give GameStop a competitive advantage.
Selling other products, not just games
A surplus of games means selling at a cheaper price. This wont be as big a problem if GameStop focuses on making more profit from other products instead. GameStop has been doing well selling collectables and their profits from it have been increasing. However, GameStop should not lose total focus on games, instead they should reallocate some focus to other products that are being profitable. This is because the target market is not responding so well with GameStop games, but has been responding well to other items such as collectables.
Sponsor an esports team
With the increasing popularity of the esports industry, it’s crucial for GameStop to get in now before its overfilled with competitors. This provides GameStop the opportunity to get into the industry before the prices to advertise and make a sports team increases drastically. It also gives GameStop the chance to gain more trust from consumers because the esports athletes are influential. Having esports athletes have a positive opinion of GameStop will carry over to consumers.
The VR game
VR games are booming now, but many people rarely play at home because of hardware, but the GameStop store can place machines for customers to try, which will allow more customers to experience. It will also encourage consumers to buy the VR set and increase sales.
EVALUATION, IMPLEMENTATION, & CONTROL
This section should describe each of the recommended tactics in the previous section in further detail by listing who will be responsible for execution, the projected cost, the duration of the activity, and how it will be evaluated. All activities should be included in a Gannt chart in the appendix.
Activity 1
Person Responsible:
Duration (in weeks):
Budget/Cost:
Performance Evaluation:
Activity 2
Person Responsible:
Duration (in weeks):
Budget/Cost:
Performance Evaluation:
