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Researching Current Market Conditions

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You have been given the responsibility of working with your organization's CEO to do a competitive market analysis of the potential success of one of their existing products.

Research an organization and a product produced by that organization in which an analysis can be conducted.
Analyze the current market conditions facing your product, making sure you address the following topics:
Define the type of market in which your selected product will compete, along with an analysis of competitors and customers.
Analyze any comparative advantages and international trade opportunities.
Explain the factors that will affect demand, supply, and prices of that product.
Examine factors that will affect Total Revenue, including but not limited to:
Price elasticity of demand
Factors that influence productivity
Various measures of costs, including opportunity costs
Externalities and government public policy and their effect on marginal revenue and marginal cost
Recommend how your organization can maximize their profit-making potential and increase their presence within the market served by the product.

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Solution Summary

Research an organization and a product produced by that organization in which an analysis can be conducted.

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XBOX Video Gaming System

Xbox video gaming system is a product owned and created by an American firm - Microsoft Corporation. The brand was first established on 15th November 2001 combined with the act of launching the original Xbox console. Nevertheless, the video gaming brand represents a series of various video game consoles. Precisely, Microsoft created three consoles in the 6th, 7th, and 8th generations. The Xbox video gaming brand incorporates streaming services, applications, as well as an online service called Xbox Live. The original Xbox console was the very first video game console delivered by an American firm after the Atari Jaguar terminated its sales in 1996. By May 10, 2006, the device attained sales of more than 24 million units. Moreover, Microsoft released its second console - Xbox 360 in 2005. This device had recorded sales exceeding 77.2 million as at April 18, 2013. Afterward, the Xbox One is the first successor to the Xbox 360 in addition to being the company's most recent console. The famous brand was revealed on 21st May 2013. Consistently, the Xbox One has prevailed in 21 markets in total wherein the Chinese release took place on 29th September 2014. The leader/head of Xbox video gaming brand is Phil Spencer, who proved to succeed former leader Marc Whitten in late March in the year 2014. Collectively, Microsoft Corporation has pursued several enhancements on the Xbox video gaming brand to help the company fight the stiff worldwide competition in the video gaming industry (Deen, 2011). This research paper presents an effectively competitive market analysis of the Xbox video gaming brand, a product of the American company - Microsoft Corporation. The paper further presents a discussion of the current market conditions facing the firm's product besides discussing the factors that influence the total revenue realized from the product's sales.

Marketing Conditions
Considering Xbox One, the increased sales accrues from two major strengths that the brand portrays in the market. Firstly, the brand encounters an enormous user base. Precisely, the company's previous console - Xbox 360, has realized sales of almost 85 million units. Nevertheless, Xbox is a prominent brand especially in the gaming industry and hence it is quite easier for Microsoft to introduce a modern product into the existing market since the product has significant lots of potential. Secondly, Xbox Live is a crucial element that cannot be undermined when exploiting the success of Microsoft's Xbox. Notably, the company introduced Xbox Live in the year 2002 whereby the analogy revealed the very first console online service in the video gaming industry. Various critics have further asserted that Xbox Live is still the beautiful online experience regarding the prevailing console market. This unique service has enabled Microsoft to evade from the stiff competition posed by Sony's PlayStation and other firms (Thota & Munir, 2011). The company is encountering a primary weakness - US-centric in the existing market. Most of Xbox One sales accrue from the United States. Despite the fact that the USA is a big market, it is rather a too small market to raise sufficient monetary resources to cater for all the costs accruing to design and marketing of modern gaming devices. Furthermore, Microsoft also gains comparable benefits from its sale of Xbox One. Precisely, the brand has an easy to use and highly customizable interface that allows users to browse comfortably with little stress via the many features dominating the operating system. The comparably competitive strength of Xbox brand accrues to its provision of several entertainment applications, including Hulu, ESPN, and Netflix that award the consumer the ...

Solution provided by:
Chris Busu, PhD (IP)
Education
  • BSc, University of Bucharest
  • MSc, Ovidius
  • MSc, Stony Brook
  • PhD (IP), Stony Brook
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