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INTRODUCING POKEMON TO CHINA.
Term Paper ID:28264
Essay Subject:
Market plan detailing steps Ventures, Inc. must take. Situational analysis, target market, problems & opportunities, goals & objectives, strategy, implementation. Table of Contents. 3 Tables.... More...
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Paper Abstract:
Market plan detailing steps Ventures, Inc. must take. Situational analysis, target market, problems & opportunities, goals & objectives, strategy, implementation. Table of Contents. 3 Tables.
Paper Introduction:
Table of Contents
Executive Summary 1
Table of Contents 2
Introduction 3
Situational Analysis 5
Target Market 7
Problems and Opportunities 8
Marketing Goals and Objectives 9
Marketing Strategy 10
Implementation and Control 12
Text of the Paper:
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Under the classic sales approach, the customer exists for thebusiness, while under the marketing approach the business exists for thecustomer. 3. To sell 5 , starter sets (45 cards) 4. Concise Marketing Goals and Objectivespresents the implementation and sales projections that guide the company inthis marketing venture. While the target group is increasingly buying games at retailoutlets, many (especially those that tend to use their computers the most)buy their games through mail-order catalogs. That there isa sizable consumer base in China is true. Problems and OpportunitiesProblems * Certain racist resistance toward buying products inspired by Japanese mythos * Getting clearance to import Pokemon * Finding a good Chinese partner * Unsophisticated multi-media in the city * Coming up with Pokemon products that are not manufactured in China, since there is already access to the products. km. * Competing with the 12 companies that Nintendo has already licensed to sell in China. It is based on theimportance of customers to a firm, and believes that all company policiesand activities should be aimed at satisfying customer needs. A licensing spokesmanfor Nintendo pointed out in a phone interview that some 2,5 companies arenegotiating for the licensing rights to new products based on Pokemoncharacters.Company Environs Although no one in our company has sold to a foreign country before,the company possesses drive, determination, and a strong ability toresearch potential markets. We willexamine this more closely in the next section. To collect all 151cards, the player can spend $1, or more, and there are currently 1482products licensed to carry Pokemon characters. In theIntroduction, an overview of the product and the People's Republic of Chinais given. Because this audience is exposed to so much information about so manycompeting products, it is most likely to decide on a particular item as aresult of multiple exposures to information about our Pokemon products-often from different types of sources. km. This introduction will be in twoparts, a brief explanation and definition of Pokemon, and a description ofthe phenomenon of the PRC.About Pokemon Pokemon started as a Nintendo Gameboy in 1994, and although mostpeople ask "What is Pokemon?" the correct answer, as any 1 -year-old willtell you, is "What are Pokemon?" The word means "pocket monsters" inJapanese. To achieve a 12 percent consumer identification in the first year. In order to be the best, they have to collect all 151 differentPokemon. It refers to sort of a whole new species. to introduce Pokemon in the People's Republic of China. The second is thepotential entry into the market of other companies. This price allows a58 percent markup on our projected costs and lower than the currentworldwide retail price.Promotion: By using China Cable and one of its subsidiaries, China Direct, wewill be able to launch the Web Site for less than $1, (this includestranslation into Chinese). Our marketing concept is a management plan that views allmarketing components as part of a total system that requires effectiveplanning, organization, leadership and control. ||Population Density |11, per sq. In the Pokemon mythos, there are also human characters (the players)that are the Pokemon trainers, and these are on a continuous quest (and inregular competition with each other) to become the best Pokemon trainersever. Over the past 1 years, China's GDP has grown at an average annual rate of nearly 9.4%.Some economists have speculated that China could become the world's largesteconomy at some point in the near future. Asan added incentive, the population in these areas is more attuned topurchasing name brand (preferably Western brand) products. Instead, the Pokemonsets will be sold directly over the Internet (Using China Cable as ourprimary Internet Service Provider) and via catalogs in a carefully targetedmarketing campaign. To give some idea of the power of this craze, there are more than12, web sites devoted exclusively to the game, and it is estimated thatmore than 3 million young people (between the ages of 7 to 14)participate or have participated. Although there hasbeen some slacking recently of the "one family one child" ruling, thenumber of families with more than two children is quite small, and islimited to the rural areas.Competitor Environs Two major competitive situations have been discovered. This plan is structured from the point of view of our mythicalmarketing company, Ventures, Inc., which specializes in introducingproducts into multinational environments. Many analysts believe such a move would lead to anew destructive round of currency devaluations throughout East Asia andcould undermine economic recovery in the region.Neutral Environs Although a favorite of many academicians, there is no such thing inChina as a neutral environ, since the Communist party controls the country,and the leaders of the Communist cells work down into every aspect ofcommunity life, even in the most metropolitan of areas. They travel from town to town trying to collect the differentPokemon that are found in that town. This group is most likely to be pre-sold by editorialcoverage in game publications such as reviews and product announcements andby word of mouth on the Internet chat rooms. The economics of the game are extraordinary. To introduce the product in phases into Shanghai 2. China has sought to boost exports by offering tax rebatesto various industries, such as textiles and steel. To obtain back end merchandising rights to other Pokemon merchandise. * Highest education level in China * Largest number of Western style boutiques and department stores. The main promotional element will be the lowestprice for the starter set, and we will make it available only to Chinesecustomers who buy on the Internet. Target Market Because the majority of the items we wish to export into China aremanufactured there, it seemed wise to target a region that had the highestincome and the largest and most diverse population. In effect, this planwill be a suggestion of how to merge two phenomena of recent years -- theemergence of Pokemon (the game) and the emergence of the PRC as acapitalist-socialist state. They typically have used computers for three or moreyears. Based on information given by the Shanghai Chamber of Commerce, thereare "probably 4 , children" in the age bracket of 7 to 14 in the city. Considering per capita income, a family in one of theseprovinces would have to work three years to purchase the complete Pokemonset, that is, unless they set aside other expenses such as rent and food. Our company will avoid the large retail store marketplace, where ourlack of ability to fund expensive national and co-op advertising campaignsand our lack of presence in this marketplace would make it very difficultto compete or even gain entrance. Even when buying games in retail outlets this group tends less to buyon impulse and is more apt to be looking for a specific item on which theyare pre-sold. Table of ContentsExecutive Summary 1Table of Contents 2Introduction 3Situational Analysis 5Target Market 7Problems and Opportunities 8Marketing Goals and Objectives 9Marketing Strategy 1 Implementation and Control 12 Executive Summary This marketing plan details the steps necessary for Ventures,Inc. * Unfamiliarity with the languageOpportunities * Chance to establish foothold in fast-growing economy * Being able to sell items manufactured in the country to people who would want to buy from a different distribution channel Marketing Goals and Objectives We have four primary goals. 1. Marketing TacticsProduct: The product will be the starter set of Pokemon cards.Price: We will sell the initial starter kits for $35. In theImplementation and Control section, we prove that our B/E is less than halfof our anticipated conservative first year sales projections.Introduction This marketing plan will detail the steps necessary to beginmarketing Pokemon in the People's Republic of China. Wholesalers and retailers are often moreinterested in the marketing support and name recognition that productsenjoy than the product's functionality and features. ||Annual Population Growth |- .14 ||Average Household Size |2.9 ||Average Income ($ US) |6,224 | Shanghai was also selected for the following reasons: * Less than 1 percent of small manufacturing is involved in making Pokemon products. That region isShanghai, the largest city in China, and the most progressive. Tables in the Target market segment show why Shanghai was chosen asthe target city for the product launch, while the Problems andOpportunities section presents in bullet format the primary problemsconnected with the venture. There are 151 differentPokemon (pocket monsters), and the basic economics of the game is that thecollector who buys the most cards stands a better chance of winning in acompetition. The 3 percent of the population in the coastal provinces, however,have a substantially higher per capita income (1999 average $14,322). As stated in our Target Market section, because of the age of ourpotential customers, the Internet (using Chinese connections) was chosen.Details of this decision are presented in this section. First, thelarge majority of the Pokemon merchandise is manufactured in China,exported from Hong Kong, and paid for by Japanese. This is followed by a four part situational analysis thatexamines a) the overall growth of the Chinese economy, b) the impact of theCommunist system on the concept of neutral environs, c) a brief statementof the critical competitive environs, and d) a statement concerning thecompany environs. Table 1 shows the relevant demographics.|Item |Number ||Total Population |12.98 million ||Area |61 sq. A key concern among many of China's trading partners is that Chinawill devalue its currency to make its exports more competitive ininternational markets. We are certain that this will give afeeling of "specialness" to the product.Place: By using China Direct, we will be, in effect, a "local company" thathas the good fortune to be selling a worldwide product. Marketing Strategy The target group of consumers for Pokemon is heavy recreationalcomputer users. Retailers and manufacturers of products eye the billion + Chinesecitizens as potential consumers of a wide range of products. That is whymore than 9 percent of the estimated 12, companies that are attemptingto crack the Chinese market are concentrating on these provinces. Implementation and Control|Breakeven Point |22,444 units ||First Year Revenues |$1,75 , ||First Year Expenses |$1,422, ||Net |$ 328, | Startup Budget|Licensing |$12, ||Web Site |$8 ||Graphics |$3 ||Shanghai Tax |$1, ||Shanghai Mail Drop Office |$2, ||Contracting with local agent |$1, ||Travel to Shanghai |$6, ||Total |$23,1 | Summary Pokemon will continue to be a craze, and this plan confirms a methodof selling it to a market in China. Nintendo marketingofficials say they can only guess at the worldwide revenues from Pokemon,but estimate that it is in the billions of dollars.People's Republic of China Since the initiation of economic reforms, beginning in 1979, China hasbecome one of the world's fastest growing economies. Situational AnalysisSituational Environs The global financial crisis has negatively affected Chinese economy,especially exports, which rose by only .5% in 1998 (after rising by 2 .9%in 1997), and by 2.1% from January-September 1999 over the comparableperiod in 1998. However, with the exception ofthe citizenry in the major coastal provinces, 7 percent of the populationis rural.
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