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Critically analyze the resources and competences that a company in the video game consoles industry needs to possess to achieve competitive advantage. Discuss and justify your arguments.

To gain a competitive advantage in the video game console segment, a company needs to adopt strategies that will enable its devices to stand out and therefore appeal to a larger portion of the market. Current market analysis indicates that casual gamers prefer video consoles that are innovative, affordable, and...

Critically analyze the strengths and weaknesses of Sony in the video game consoles industry and identify any potential opportunities and threats for that company. Provide full support and justification for your arguments.

SWOT Analysis for Sony Strengths Sony has various strengths that enable it to command a considerable market share in the video gaming industry. First, Sony’s video game devices and games are innovative, technologically advanced, and, therefore, attractive to gamers of all age groups. The devices are also suitable for hardcore...

Prepare three different maps of strategic groups in the video game consoles industry, using different variables each time. Justify the selection of the variables, critically analyze the position of each competitor on the strategic group’s map and identify future opportunities for these companies based on their position

Figures 1, 2, and 3 show the different maps of strategic groups that outline the competition between the three main players in the video game industry. The 3rd generation video game consoles have been chosen to identify the main variables in the video console segment. According to the case study...

When considering diversification strategies in developed and emerging world equity markets, what would be the determining factors in selecting a foreign market? Prioritize a set of factors in making such a decision.

The ability to select a viable foreign market is a crucial undertaking whenever there is a need to expand and diversify operational strategies. Before expanding to international markets, it is vital to consider the level of demand for products being marketed by an organization. Market demand is an essential selection...

In What Ways Might New Store Design Differ From The Redesign Of An Established Store?

Due to the world’s increasing reliance on image recognition, successful retailers in the modern world are heavily investing in the creation of an attractive brand image for their products. Retailers lack adequate time and resources to develop new brand names every time they open new establishments since most of them...

Retail Internationalization Is Much More Than The Opening Of Stores Abroad. Provide A Critical Review Of This Statement.

Retail internationalization is one of the complex issues in retail strategy primarily due to the previously localized nature of retailing. The accelerating rate of internalization in the retail sector has attracted increased attention by scholars and business practitioners who have sought to understand what retail internationalization entails. The process of...

Which best describes how advertising influences consumer choice in an oligopoly? A) Advertising coaxes people to buy new products. B) Advertising alerts consumers to price reductions. C) Advertising undermines competition. D) Advertising informs brand knowledge.

D. advertising informs brand knowledge. Explanation: In an oligopoly, a small number of companies dominate the market for a specific commodity, choosing not to compete among each other in price or quality. The barrier of entry is very high, and therefore, new products surface infrequently. As such, the participants try...

Which consideration must be addressed when deciding for whom to produce? A) Who can be most creative with the product? B) Who has the largest resource pool? C) Who has the greatest need? D) Who can bring in the greatest profit?

The correct answer is C, which is who has the greatest need. Explanation: Creativity (Answer A) and the number of resources (Answer B) do not help decide the stakeholders of the product, while Answer D is not an easily measurable or correctly predictable number. Every economy faces several problems, which...

Which of the following things are generally true about alcohol advertisements: A) they have no effect on how much alcohol is consumed B) they target our expectations and perceptions about drinking C) they accurately depict the negative effects from drinking too much D) none of above

The correct answer is A (they have no effect on how much alcohol is consumed). Explanation: Advertisements allow liquor makers to promote alcoholic beverages, such as beer, wine, whiskey, and absinthe, through various media channels. Excessive consumption of such drinks usually results in hangovers, poor health, and can lead to...

Provide the law of supply definition.

The law of supply implies that when the price of goods and services increases, its factors being equal, the offer of the number of services and goods rises, too. Explanation: The law of supply works this way because when the price of products or services increases, the seller may want...

Define the long run supply curve.

The long run supply curve is a curve that reflects the relationship between the overall price level in a country and the real output that firms want and plan to realize in the long term. Explanation: In the long run, the prices of the end products sold as well as...

What’s a non-price competition?

Non-price competition refers to the ways that help companies attract customers and increase sales without involving a change in price. Explanation: Very often the price of the product is not the main issue when there is competition between firms; it is only one of the many factors on the list....

Define institutional advertising.

Institutional advertising practice stands for a type of indirect expression of an industry’s benefits, ideas, and usefulness, in an attempt to build a positive image among the general public, thus making them more likely to get themselves involved with the businesses comprising said industry. Explanation: Institutional advertising is a business...

What are the properties of the perfectly competitive market?

In a perfectly competitive market, all producers sell the same goods or services. A single seller or buyer cannot influence the price – it is established by balancing supply and demand. In a market of pure competition, there are no restrictions on entry and exit. Explanation: Perfect competition was considered...

What is the largest single item in the food marketing bill?

United States food marketing bill’s largest single item is marketing bill series, which is the key component of a food dollar concept. Marketing bill series of the food marketing bill consists of two elements, which are farm share and bill. Explanation: The active use of marketing in managerial activities is only...

What is market risk premium formula? Where can it be used?

A market risk premium formula is calculated by deducting a risk-free rate of return from the expected risk of return or from the market rate return. It is used by investors to determine the level of risk against risk-free investment. Explanation: The investors want to balance the risk with the...

What is the inverse demand function?

Inverse demand function is a term used in economics to identify the inverse of a demand function. This can be represented as Price = f-1 (Quantity). Visually, the graph is identical to the demand function, but with switched axes. Explanation: The main difference between the demand function and the intermediate...

What are the issues of alcohol advertisements?

Alcohol advertising is recognized to have little or no influence on the amount or frequency of alcohol drinks consumption by the population. The rate of liquor drinking is impacted by factors other than commercial representation. Explanation: Recently, there has been a significant rise in alcohol advertising restrictions aimed at controlling...

Define market demand curve

The market demand curve derives from the summation of the individual demand curves of all consumers in the market. Explanation: The market demand curve reflects market demand. The market demand curve is flatter than the individual demand curves. It happens because when the price changes, the proportional change in market...

What does the law of demand state?

The law of demand is a term used in microeconomics, which states that when other things that affect demand held constant, quantity demand and price of a good or service are inversely related to each other. When a price for a product falls, the demand for the same product increases,...

What segmentation does the American Handgunner magazine use and why?

American Handgunner is a 110 plus pages magazine dedicated to handguns and all related shooting products. The magazine is published by FMG Publications and targeted at the consumer magazine sector of the market. It is positioning itself as the world’s best handgun magazine. Explanation: The magazine industry is dependent on market segmentation...

What is the definition of card stacking propaganda? Where does it occur?

The card stacking propaganda is a technique which can be used in politics or marketing in order to appeal to the listeners by way of exaggerating positive fact and omitting negative information. Explanation: Card stacking is a form of propaganda, used in marketing, different advertisements, political speeches, and campaigns. Card...

Provide the absolute advantage definition.

Absolute advantage theory implies that a specific entity, whether it is a country or a business organization, can produce a more significant number of goods than another establishment can within the same period. Another angle that one can look at it is that a company has higher production abilities, manufacturing...