Strategic Marketing The Board Game Market School Essay Report

1767 words - 8 pages

BM5003: Strategic Marketing
The board game market is always changing as a market; therefore, it is vital that Meepleco
develops a clear market orientation. Having a clear market orientation allows a business to
focus and learn the undiscovered needs of its consumers and find a way to provide them and is
also part of a business customer service its providing. Surrounding needs of specific market a
company designs or changes its product to fit that, this also helps a business to focus recourses
and funds towards more specific things customers need and therefore helps the likely hood of
increased sales without any unnecessary funds going to unneeded sectors. (Investopedia
2015).
Political
There are multiple aspects Meepleco needs to consider within the external environment, firstly
the political aspects that should be contemplated are the fact that Brexit has the UK in a state
of political uncertainty which is worrying for businesses when it comes to importing and
exporting. (Kamen, M. 2016). Meepleco will need to consider how Brexit is negotiated as they
need to insure import taxes on international board games do not cause them difficulty.
Economical
Economic factors have the most influence on a company as a whole irrespective of what market
it is in. In 2017 the estimated average household disposable income was £27,200 this is an
increase of 1.8% compared to 2016 which was £26,700. This is beneficial to Meepleco as more
potential customers will have more disposable income to spend on leisure activities like board
games.
Demographic
Meepleco needs to be aware and conscious of their target market this ranges from older
millennials to younger kids. Meepleco can use this to segment their market and more
specifically target marketing campaigns towards different demographics.
A lot more couples, and young professionals are wanting to still meet with friends but are
recently preferring to go somewhere they can get a drink, get a game out and sit around for
hours as this is a more sociable activity. (Graham, L. 2016).
Social
The Internet has vastly helped smaller businesses to increase awareness of their businesses.
Rather than Meepleco just relying on word of mouth they are now able to make use of social
media when raising awareness about potential promotions or offers. Fernand Gobbet,
Professor of Psychological Sciences at the University of Liverpool says that in particular
countries “playing a board game is part of culture” (Jolin, D. 2016). This is good for Meepleco as
if they were to introduce a board gaming café this helps to attract people looking to share an
activity with friends and plays on the fact that board games bring people together in a mutual
activity.
Technological
With the advancement in technology Meepleco needs to stay relevant within its market and
not fall behind more technologically advanced competitors such as the video game industry.
They can stay on top of this by insuring they purchase the current board games in store.
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