The marketing strategy Emotiv Essay Example

as the chosen amount needs to be acceptable for consumers while still maintaining profitability. Setting the retail price at $199 strikes a balance: it is not excessively low, preserving EPOC's unique selling proposition, and it is also lower than the cost of a console like Wii, which retails at $249. If the price were set too low, EPOC might be perceived as just another typical gaming accessory, while setting it too high, like $299, would make it difficult for consumers to afford and might even be pricier than a console.

Additionally, the article proposes that EPOC could benefit from selling its products at electronic product retail centers like Best Buy and Fry's. These locations offer consumers the chance to learn about and try out EPOC. If customers have a positive experience using EPOC, they may be more likely to purchase additional products like games or gaming consoles. Moreover, implementing viral marketing strategies could greatly help EPOC. Emotiv has the potential to provide professional or well-known gamers with complimentary EPOC devices and encourage them to share their positive gaming experiences with EPOC on popular online game discussion platforms or through creating videos while using the device.

It is important to consider the viewpoints of influential opinion leaders in the game industry regarding EPOC, similar to how cosmetic manufacturers collaborate with popular bloggers for marketing. The impact of these individuals can greatly benefit EPOC. From a financial perspective, concentrating on making EPOC available exclusively for consoles instead of PCs would result in higher profits. This is evident from Exhibit 8, which demonstrates that retail sales of console games are almost five times greater than those of PC games.

The retail

sales of console software games reached $6 billion in 2007, whereas PC games only generated $0.9 billion. According to the exhibit, PC game sales declined from $1 billion to $0.7 billion over a four-year period. This indicates that gaming consoles are preferred by consumers over PCs for gaming purposes. As a result, it can be concluded that there is a larger consumer base who own consoles for buying games rather than PCs.

Choosing a console-enabled option would be more profitable than opting for a PC if the marketing for console games is larger. Some argue that PC games have higher profit margins because game developers don't need to pay royalties to console makers, but this doesn't apply to Emotiv. Even when EPOC is exclusively enabled for PC, Emotiv still needs to pay royalties to the game developer instead of the console maker. However, when EPOC is solely PC-enabled, the royalty fee paid to the PC game developer is lower at 2%, compared to 3-5% on consoles.

Therefore, the PC-enabled market has lower royalty but is only one-fifth the size of the console-enabled market, making it less profitable. However, demand for console-enabled EPOC is high because it allows multiple players to play at the same time or separately and records their brain waves in the system. Many console games are played by family members or groups. The EPOC device must be able to be worn by different players and function effectively, ensuring that players do not experience any difficulties during their gaming sessions.

The processor of EPOC should be capable of delivering a good gaming experience for both PC-enabled and console-enabled players. Every gamer appreciates good graphics and smooth

gameplay, particularly PC gamers who are more willing to invest money to enhance their gaming quality. EPOC should be able to adapt and function flawlessly with various levels of processing power, providing a satisfactory gaming experience regardless of the player's hardware capabilities.