Problem Statement. How Can 401 Games Attract More Customers

However, GameStop is still at a disadvantage, because there are such a large number of competitors in the industry. Buyer’s bargaining power are high, since there is no brand loyalty in the industry. Customers are very well aware of the market price of a product and will look for the best deals they can find. Suppliers have high bargaining power since suppliers can choose to integrate forward and sell their products themselves. The success of the retail gaming industry is very dependent on the availability of supplier’s goods. Additionally, since there are low barriers of entrance, substitute products and new entrants often appear in the market. Since most competitors in the industry do not have a strong presence, the expected retaliation towards new entrants is low. An increasing popularity of smartphone games and social media games such as Farmville on Facebook, allows customers to play against friends. Although these social media games do not offer the same experience as a video game, the fact that virtually no switching cost is associated with switching to a competitor’s game and since they are so cheap compared to video game disk and consoles, can easily drive customers from video gaming to online gaming. (Exhibit 2)

The low cost product can also change customers buying behavior. Some customer who prefer to buy goods in the physical stores might decide to buy Amazon’s online product if they see it is in so low a price.

​Competition within the internet sales industry is fierce and innovation is the way internet retailers are looking to grab the top spot. Internet retailers such as Walmart are following in the path of competitors and building fulfillment centers left and right to allow for faster delivery to customers. Many internet retailers have explored the possibilities of drone delivery, using customers to deliver products to other customers on their way home, and allowing customers to pick up products out of lockers in stores so they don’t have to wait in line; these competitive strategies internet retailers are seeking to implement illustrate how far firms are willing to go to gain the upper-hand on one another (Forbes, 2012).

Lastly, we picked individuals who prefer in-store shopping over online. At 401 Games, we hire individuals and train them to be the experts on all games. We want customers to come in and look at different games. Customers can ask our employees if they have questions, which is a benefit that is not online. Customers also have the ability to come in

Let’s start with GameStop; it is a heavy hitter in the gaming consumer world. With presence online and at retail store you can find one, even in the smallest of cities. It’s main selling point is that it takes trade-in games and sells them a cheaper price then new games. The prices of trade-in values for games, consoles, and even smart phones and tablets are all listed on the website. That way you know exactly what you’ll be getting if you choose to trade with them. You can choose to take cash, which you’ll receive a smaller amount of return or store credit, which is slightly higher.

The next issue that 401 Games must address is their Online Sales (E-Commerce) Absence. E-Commerce is the buying and selling of products or services by businesses and consumers through an electronic medium, without the use of paper documents. Although 401 Games has a website, its primary use for it is to inform customers about what they have in stock and what they have coming in. This may be a

Online commerce was introduced to consumers in the mid-1990’s, and in the years since, it has grown exponentially. It started out virtually nonexistent and has become a multi-billion dollar industry. Nearly every retail sector has entered online commerce; clothing, electronics, home, health and grooming items, even food and groceries are starting to gain traction online. Online commerce sites rival traditional brick and mortar stores such as Walmart and Target, as well as other big-box stores. As online retailers such as Amazon continue to expand, many brick and mortar stores have been making their way online, indicative of an increasing movement towards online commerce. With more than 80% of the online population having made an online

When we first step into a new business like Exit, we find out that not a lot of people are doing business just to offer a place for fun, enjoyment and relaxation. However, EXIT did it. Even though it has a very unity vision of business model, it also brings a high risk in a business cycles. Firstly, Exit is a company that hosts real life gaming experiences. They have their own mission statements like “a place where the fantasy world appears before your eyes. From the moment you step in, you’ll be transported to a universe of your wildest imagination. There are endless possibilities when you choose to explore the world of EXIT, where you can display your marvels and artistry in many ways.” In other words, they said they’re the ultimate playground for you to battle and conquer our Game Master. Secondly, Exit’s major customers are groups of young adults and students. They try to narrow down the market share in a whole great Richmond

The development of the Internet and more specifically the business website has seen brand recognition by consumers escalate to never before seen heights. Because of this brand recognition, it has become important for businesses to design their websites to reflect their overall marketing strategies. This is especially important in the retail world. All retail businesses have a similar overall marketing strategy of generating sales and retaining the customer for future sales. Most of the retail giants still greatly rely on the success of their brick and mortar stores to turn a profit. However, internet sales for these brick and mortar stores have increasingly risen over the last few years to compete with the retail stores like Amazon that are strictly internet based businesses. Brick and mortar retail stores, such as Walmart, Target, Kmart, and Nordstrom, have each designed their websites to reflect the overall retail marketing strategy as well as the individual marketing strategies that have made their brick and mortar businesses successful.

Barcade’s mission is to provide Iowa City with the social experience of a bar combined with the entertainment excitement of an arcade. This combination of games and drinks will allow customers to have a unique and memorable social experience, one they cannot get anywhere else. It is important for a business to have an effective mission statement. For a mission to be effective, it needs to be brief yet define what the company aims to do and why (Crawford, October 4, 2016). Barcade’s mission statement does this by stating what it plans to offer to its customers and why the customers will value the service. Barcade will offer customers a full menu of delectable drinks along with our main attraction which will be a variety of popular classic as well as sensational new arcade games. The arcade will feature some of the all-time top grossing arcade games such as Pac-Man, Donkey Kong, and Asteroids alongside newer digital games including Flappy Bird, Guitar Hero, and Angry Birds. In addition to these games Barcade will also offer shooting games, racing games, pool, air hockey, darts and more. The downtown Iowa City area provides an exceptional location for Barcade as it is home to one of the nation’s top party schools and nearly 30,000 college students. The bar scene in Iowa City is prosperous and the large population of young adults who reside there will be attracted to the unique idea of Barcade. Specifically, young adult gamers will be our target market because they are

The Internet has changed the way we do virtually everything, including the way we shop. However, shopping is not the only thing that has changed. In the last decade we have changed the way, we apply for loans, study, and even plan a vacation. Doing any of these things would have been impossible a few decades ago. At present, online banking, paying bills, ordering new services, and shopping online have become part of our daily lives. Traditional brick-and-mortar stores have been around much longer than online stores, but we cannot deny that online shopping is giving the traditional stores competition. Many consumers still choose to shop at regular brick-and-mortar stores because they like to see and

This would attract more customers since it would make it convenient for people to do their shopping on line. More and exciting opportunities might arise and make way for possible expansion of the business.

In today's businesses e-commerce is becomingly more effective in the modern world. Two major companies stand out, one solely relying on online business and the other both store and online services. Most individuals are familiar with these companies, Amazon and Nike. Both of these companies carry strong points in their own right, and as demand for their products grows, so does opportunity. Amazon was once very plain and unattractive but was still the primary bookseller for consumers on the Web, and

The bargaining power of customers is high. First of all, the customer size is tremendous globally, which also has an accelerating growth rate in recent years. Customers’ leverage is strengthening as a result of this. Another inevitable factor is that with countless retailors online, there is low switching cost for customers to find other alternative companies that suits their desire to conduct purchases. Moreover, consumers today are more sophisticated. Consumers are less commit to impulsive-buying, yet are more willing to study about product features and evaluate their options before purchasing online. Their purchase pattern can also be hard to learn too.

The company has laid out plans to ensure the success of the project. We plan to hit the break even point within year two. Our expected revenue will be $16 billion yearly. We intend on increasing consumer products by 10% as most items are only currently available online. We plan to create and market a new Australian based character. The projected attendance, revenues, and so on.