Explore BrainMass
Share

Explore BrainMass

    Guitar Hero Brand

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Marketing Plan for Guitar Hero Brand.

    It should be followed this outline

    i. Executive Summary
    ii. Current Situation and Trends
    iii. Performance Review
    iv. Key Issues
    v. Objectives
    vi. Marketing Strategy
    vii. Action Plan
    viii. Profit and Loss Statement
    ix. Controls
    x. Contingency plans
    xi. Sources

    © BrainMass Inc. brainmass.com October 10, 2019, 1:45 am ad1c9bdddf
    https://brainmass.com/business/branding/guitar-hero-brand-347438

    Solution Preview

    Guitar Hero Marketing Plan

    It should be followed this outline

    i. Executive Summary

    Guitar Hero is a strong brand and has been well received in its present market. However, the brand has been overused and sales and profits are tapering. Weak economy, strong patent suit, and fragile hardware threaten the market position of Guitar Hero. To increase market share, revenues, and profitability, Guitar Hero has developed an ambitious plan. It will develop Game Controllers designed as other musical instruments. In addition, it will export its products abroad. It is expected that this plan will boost its revenues, increase profits, and boost its brand image.

    ii. Current Situation and Trends

    The strengths of Guitar Hero are that the brand is well received, the series expansions have brought in more profits, portable and mobile phone versions have increased its sales. Further, it has become a cultural phenomenon. The weaknesses of Guitar Hero are that the PlayStation 3 does not have compatibility with Guitar Hero, and its patent is on weak grounds because it has been challenged in court. The opportunities for Guitar Hero are that its popularity at the cultural phenomenon can be exploited, the games can be sold separately from the Game Controllers and still earn large revenues, and foreign/ emerging markets can be tapped for higher sales. The threats are that Gibson Guitars may stop the use of the brand name Guitar Hero, and the staleness of the Game Controller market may affect Guitar Hero adversely.

    The current tax policy, employment laws and trade restrictions do not adversely impact Guitar Hero; these factors are favorable to global marketing of Guitar Hero. However, the high unemployment rates, weak economic growth, and fluctuating exchange rates adversely affect the sales of Guitar Hero. The social factors have favored ...

    Solution Summary

    This answer provides you an excellent discussion on Guitar Hero Brand

    $2.19