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TAGS: case study solution marketing strategy new product launch innovative technology business to consumer business to business product evolution virtual reality video games gaming console industry innovation brain computer interface
Emotiv Systems Inc.: It's the Thoughts that Count Market Selection: Including hard-core gamers, youth, cutting-edge technology addicts and the disable. Product: Launching EPOC the PC platform at first and keep trying to convince major console makers. Price: Set a low initial price at $199. Place: Using the traditional retail as main channel, also sell the product through e-tailers and Emotiv official website. Promotion: Build the brand as a pioneering technology product. Offer deal to improve sales. Analysis: Market Analysis: There are many alternative applications for EPOC, such as thought controlled self-help health care management for paraplegics and mental health management in medical industry, thought-controlled and operated weapon systems and communication channel in military industry, accurate time information from customers and detection of emotional engagement in marketing. Additionally, Emotiv‘s product could be used in lifestyle as well, like thought controlled home entertainment systems and thought controlled home appliances. However, according to the market research, it shows none of the applications seem to be a better alternative than gaming industry which has far more bigger market size. In the console-enabled market, we have three potential cooperative partners-Nintendo, Sony, and Microsoft. However, the Wii of Nintendo is lacking in computational power and because of its phenomenal success, Nintendo wants to focus on enhancing its existing technology rather than trying a new one. Then Sony wants Emotiv to modify its product simpler, which is risky for Emotiv to launch its first product to the world. Additionally, Microsoft’s Xbox 360 doesn’t include a high-definition DVD in the console, and it wants others to pan out for them instead of being an initiator. Besides, no third-party deal is imminent. Compare to the console-enabled market, the PC-gaming market launches the product more speedily. With higher margins, game development for PC games is much less concentrated and there are much more PC games on the market than console-enabled games. Meanwhile, the PC market is the platform of choice for very hard-core gamers who tend to invest more money in games.