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The US Video Game Market - Essay Example

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Summary
In the essay “The US Video Game Market” the author estimates the US video game market is worth $24 billion. Comparing its performance from last year, the market is said to skyrocket by 57% notwithstanding the economic recession that the country is currently experiencing…
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The US Video Game Market
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Extract of sample "The US Video Game Market"

The market for video games is evolving to become a family-oriented activity instead of just being an occupation of hobbyist. The expansion then is through the involvement of more adult gamers. The sale of the game products aged 25-34 jumped by 63.4% from 2006-2007 surpassing the 42% recorded for the 18-24 market group (Emigh 2008). Guidelines in Choosing the Appropriate Project Manager The most suitable project manager for this project should have a strong marketing and economics background in order to understand the issues of the still-growing video game market.

The knowledge in marketing will enable the manager to analyze trends and their implications together with the movement in demand. Having an in-depth understanding of marketing techniques will enable the manager to interpret where the market is going through an analysis of the strategies employed by competing players. This will also enable him or her to identify specific target markets and create a marketing plan in order to help the company enter this market. On the other hand, the manager should also be adept in understanding how economic factors especially the ensuing economic recession are going to affect market growth and development.

Aside from this, the manager should have strong research skills comprised of the ability to conduct market research through interviews, consumer surveys, and focus groups. Another will be knowledge in forecasting techniques in order to project market growth. Lastly, he or she should have the capacity to efficiently manage a diverse team that will be formed for this project. In summary, the five criteria can be summarized as strong marketing background and experience; understanding of economic movements; research skills; ability to use forecasting techniques; and capability to manage a diverse team.

 

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