Business and Management

Paper instructions:
I am responsible for the Market Anlylist for CanGo. Here is one I found that may be used as a template.

Market Analysis
A full understanding and analysis of the online game market is crucial to the success of CanGo’s organization. Our consulting team has fully analyzed and researched their organization’s market. Therefore, the purpose of this analysis is to give CanGo a detailed overview of the industry that will include information regarding the target market, geographic area and size of the audience to include gender and age; along with trends and outlook of the gaming market.
First we will begin with the market size. Throughout this analysis it was found that the market size has grown in both revenue and popularity. “Estimates that the video game market will increase from $31.6 billion in 2006 to $48.9 billion in 2011” (Intelligence, 2006). This makes video games the third-fastest-growing segment of the entertainment and media market after TV distribution (up 9.3% to $250.7 billion in 2011) and Internet advertising and access spending (up 13.4% to $331.6 billion in 2011).” (Scanlon, 2007) This is an enormous jump and places CanGo in a prime time for advancement availability and success. Which means that there will be a growth of almost 4 billion is projected in the video game market alone.
Demographically the market is on a global scale. Globally, “a final growth at the closing of this year is expected to be at a 30.4% increase in comparison to 2007” (Intelligence, 2006). This supports their organization’s mission to expand globally due to the excelling video game market. With such a large market segment there is endless potential to sky rocket in this industry.
Online gaming is the new trend worldwide with billions of customers waiting and anticipating the “new hot item”. “Certain trends hold steady across most regions: For instance, driven by increased penetration of broadband access, online gaming is surging. In the U.S. and Europe/Middle East/Africa, online gaming represents the fastest-growing consumer segment (19.3% and 24.6%, respectively); in Asia Pacific and Canada, online growth came in second only to wireless (at 16.1% and 13.9%, respectively).” (Scanlon, 2007)The global video game market is set to explode, and CanGo can be a part of this market success and growth.
The average age and gender of online gaming seems to be holding strong in the market with “the average age of game players was 29 and the average age of buyers was 36, with men making up 59% of the playing audience.” (Tech, 2011)
Market Strategic Recommendations
With such a large room for growth within the online market CanGo has to remain informed of the market along with any changes for demands. This leaves big and hopeful potential for CanGo in the gaming market. Giving CanGo this opportunity to take advantage of this huge profit as long as proper planning is implemented, and market analysis understood. That means that it is important that CanGo takes advantage of this market availability now in order to grow their reputation within the market, and increase their profits from online gaming.
In order to grow CanGo has to remain desired by consumers. CanGo can use advertisement online and off line to help assist. Advertisements such as publications, billboards, satellite, and internet can help support CanGo’s online market success

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