Situation Analysis (SWOT), Marketing Objectives, and Positioning (Research Paper Sample)

Situation Analysis (SWOT), Marketing Objectives, and Positioning
Goovis VR Headset
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MARK110 Marketing Plan Template
Part 1: Situation Analysis (SWOT), Marketing Objectives, and Positioning
Name of product or service: Goovis VR Headset

Detailed description of product/service:
The Goovis VR Headset is a pair of virtual reality goggles that come with a 3D viewer support and 4K blue ray player. The goggles are made by a company called Reality Technologies. (Amazon, 2020) Some of the features that make these goggles unique and the high level of image resolution, giant screen, 3D experience to the user and immersive experience of the user. Additionally, the goggles can connect with every device and enable the user to view movies from different platforms such as Netflix, Hulu and Nintendo (Amazon, 2020).

Current stage of product/service development:
This product is currently in the product development stage. This stage involves not only building the overall structure of the product, but also conducting market research, competitor analysis and testing (Farbey, 2020).
According to a recent article in the Harvard Business Review, (Levitt, 2020) the product development stage involves carrying an environmental scan of the market to prove that there is sufficient demand for the product. This involves studying the consumer and the market segments. In this stage, sales are low and tend to grow very slowly.

PHASE I: PLANNING

* SITUATION ANALYSIS (SWOT)

Strengths and weaknesses can include such factors as financial and capital resources, management/employee expertise, capacity for growth, brand recognition, existing networks, customer relationships, sustainability, etc.



1 Strengths (INTERNAL, favourable)
* The product is backed by the presence of a strong brand that has produced it. The company Reality Technologies ranks amongst the top 20 companies that produce virtual reality headsets (Greenwald, 2020). According to the website PCWorld.com (Greenwald, 2020) that ranks, virtual reality headsets, the product is ranked position 12 out of 50.
* The product has excellent advanced features that give it a high competitive edge above its competitors in the market. With a 360 panoramic view, fully immersive virtual reality, 4K resolution and an enlarged 3D HD image, very few competitors can meet the advancements that the product has. These features have made the product to have superior competitive edge above the ordinary VR headset.
* The ability to integrate with all other entertainment platforms gives the product a superior strength above the others. Most of the headsets are limited to the platforms they can link with usually gaming platforms. (Greenwald, 2020). However, the Goovis VR Headset can integrate with all platforms including Hulu, Netflix and various gaming platforms.
* Another strength of the product is the ability to address various health concerns that affect the eyes of the user. The Goovis VR headset comes with two specifications that help to protect the eyes of the user namely: the Eye care function and the Premium Blue light hazard protection. (Reality-Tech, 2020). These special protection features make it to be suitably preferred over other that do not have the same thus giving the product a competitive advantage.
* The Goovis VR Headset is also the lightest headset in the market. The product weighs only 200g which is 1/3 of the average weight of the other headsets in the market (Reality-tech, 2020). This lightweight ensures that there is not strain the neck or head during usage making it a comfortable product to use.



2 Weaknesses (INTERNAL, unfavourable)
* The Goovis VR Headset is costly to purchase. The product retails for $1059 in Amazon (Amazon, 2020). This is way above the average cost of VR headsets with some costing as low as $49. (Greenwald, 2020). This expensive price makes it difficult to obtain and use for the average customer.
* The product is complex to use with confusing instructions. Several reviews in Amazon from customers who have purchased the product (Sheynkman, 2020) have indicated that the product’s initial instructions are not clear. Several have also complained that the device works slowly on Wi-Fi and even though it connects with a lot of platforms, some take longer than usual to connect.
* The design of the headset is uncomfortable and not flexible to different users. According to products reviews on the Amazon website, (Sheynkman, 2020) the design of the headset is not only uncomfortable but cannot accommodate anyone who wears glasses. The HDMI cable connection is also hard to toggle with and with extended use, the headset becomes hot and unbearable.
* The batteries of the product do not last for long. Several product reviews in the Amazon website indicate that several people who have purchased the product complain that the batteries do not last more than 1.5hrs (Sheynkman, 2020). They are then required to be charged for a period of 5-6 hrs. This is unfavourable to the users who want to watch several movies at once since the short duration of 1.5hrs for usage limits the user to watching only one movie only.

PHASE I: PLANNING

* SITUATION ANALYSIS (SWOT)

1 OPPORTUNITIES

Opportunities (EXTERNAL, favourable)




* Competitive Opportunities:
The manufacturer should strive to improve on all the pointed out weaknesses on the product by the customer feedback. Proper mining of information provided through feedback online can be a goldmine for what the customers are seeking for in comparison to other brands. Things such as a long battery life, avoiding overheating and fast Wi-Fi connection can go a long way in improving the features of the product for greater sales out of positive word of mouth advertising and feedback.
The company should also take advantage of advertising and promoting the product online through the various websites that give information about the VR machines and products. Partnering with various gaming websites and companies to promote the product at a subsidized cost can go a long way in creating awareness about the product.




* Regulatory Opportunities:
The state of British Columbia has a fire fighting training school that issues a certificate upon completion (JIBC, 2020). Recently, fire fighting schools all over the world have embarked on the use of virtual reality scenes to simulate the real fire incidence in training their students (Engelbrecht, Lindeman & Hoermann, 2019). Though partnering with the regulatory authorities, the company can supply the hardware and software through its Goovis VR Headset to the fire fighting training school for subsidized fee and boost its sales.
In the medical training school, VR has been embraced to train doctors I various fields. In a recent web article that speaks about the opportunities of the VR industry in the medical field (DiPersio & DiPersio, 2020), the authors point out that VR technology has been used in medical schools and hospitals to teach and expose various mistakes that can happen when doctors are undertaking various medical procedures like surgery. The company can take advantage of this opportunity and partner with various hospitals and medical training schools.




* Economic Opportunities:
The product can be exported to various countries all over the world either through the conventional across border exportation to various countries or through the dynamic e-commerce websites like Amazon, Target and Alibaba. Online sales will also boost in foreign exchange gain in countries where the dollar is stronger.
The company should also focus on selling the product in new emerging economies in the Middle East, Africa and Asian markets. Through calculated price adjustments and selling cheaper but quality items the dominance in the emerging market economies can be built.




* Social Opportunities:
British Columbia has a dynamic culture that is modernized. In a recent report that was published by the State Trade department, it revealed that there are more than 150 virtual gaming companies in British Columbia. (Smith, 2019). The report goes on to mention that virtually in every three homes, one has a VR gaming subscription. This shows that the social culture of British Columbia is welcoming to the VR industry and thus the state is a goldmine for the sales of VR headsets.




* Demographic Opportunities:
From the recent census statistics (Statistics, 2017) a third of the British Columbia population is composed of youth from 0-25 years. These are the target market for the gaming companies and also the one highly likely to use VR Headsets. The company should target this population to sell the headsets by adjusting the price to be favourable.
The increase in population in the state is also another positive factor. The rate of population increase in British Columbia is 9.7%. (Statistics, 2017). With increase in population comes new opportunities for selling the item. The company should fo...