Unit 2 - PART A- Market Research - Fantastical Gaming PDF

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Omobolaji Steven Ajayi Developing a Marketing Campaign, Part A

Structure 1. Introduction 2. Purpose 5. Increasing Brand Awareness 8. Marketing Aims And Objectives 11. TimeFrame (Gantt Chart)

3. The Market 4. Markets Size and Growth 6. SWOT 7. PESTLE 9. Marketing Mix 10. Marketing Budget 12. Conclusion

Introduction What is a rationale What is Fantastical Gaming? What do they sell? Why do Fantastical Gaming need my help? What are tabletop games? Tabletop games are games that are normally played on a table or other flat surface, such as board games, card games, dice games, miniature wargames, or tile-based games - Wikipedia Digital tabletops games are digital variations of tabletop games, which include straight reproductions of existing physical tabletop games, video games that use tabletop game principles as part of their gameplay mechanics, and tabletop simulators that provide a virtual tabletop for conducting tabletop games online.- Wikipedia How many types of tabletop games are there? Unknown - BoardGameGeek (BGG) list over 125,600 different tabletop games on webiste, What are the most popular tabletop games. There is clearly some brand overlap between tabletop games and digital games. For example, some of the most popular tabletop games such as Ticket to Ride (with over 6 million games sold) are available as both physical and app-based versions. Similarly, the Warhammer game franchise operated by Games Workshop also has app editions.

Purpose for Marketing Campaign Why do you believe that Fantastical Gaming need to improve its status and profitability? What type of environment do we live in and how does it relate to the marketing campaign, tabletop games and board games. Why is it important for people? ● Playing board games increases brain function. ● Playing board games teaches you how to set goals and be patient. ● Playing board games is great for reducing stress and makes for laughter. ● Playing board games creates more happiness. - Data received from https://buckslib.org/ The barriers to entry in the tabletop gaming market are relatively low. For an investment of less than £10-25k it is possible to get a game concept designed, trialled and launched. According to The Guardian, its estimates for growth in sales of tabletop games (including card, dice and war games) place it at around 20% between 2015 and ‘16 for the US, and possibly even as high as 35% for the UK industry.

The Market What is primary and secondary research? Which did you use? What is the importance of it and to fantastical gaming? Who is the target market? What games are they likely to play? Ages 4-9 (Snakes & ladders, connect 4 etc.) / affluent professionals aged 20 to 40 ( Cluedo, Monopoly, Chess). What is a mass and niche market?

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Omobolaji Steven Ajayi Developing a Marketing Campaign, Part A Would Fantastical Gaming be able to jump right into the Mass Market? Why or why not? Connect 4, Monopoly, Uno, Scrammble, Cluedo - Mass Market In 2013 in retail value sales, Monopoly - Over $400m , Uno - Approx $250m, Scramble - Approx. $200m - https://blog.euromonitor.com/ Niche Market Games :Dungeons and Dragons, Apples to Apples Market Leaders : Hasbro ( Net revenues of $4.72 billion (2019)) - https://investor.hasbro.com/ , Mattel (revenue - US$ 1.40 billion, net income - US$70.60 million (2019)). - BOTH COMPANIES ARE AMERICAN COMPANIES. Other Market Leaders :Asmodee, Ravensburger, Games workshop biggest UK tabletop company - £158.1million(2017)(Revenue) What types of of tabletop games do hasbro offer? Family Board Games, Strategical Games? Kids? How could the lack of UK Tabletop game companies except Games workshop benefit Fantastical Gaming? Europe Board Games Market Size is expected to reach Revenues of Approximately £3.15bn by 2023, growing at a CAGR of around 6% by 2017-2023. Why is this beneficial towards Fantastical Gaming especially when there is low UK competition? Europe board games market is divided into France, Germany, Italy, Spain, UK, Turkey, and others. France occupied the largest market share in 2017, growing at a CAGR of more than 5% during the forecast period. The growing demand for family games, strategic card games, and trading card games is attributing to the growth of this region in the European market. Why is this data beneficial, what types of games will Fantastical gaming look to innovate? Monopoly, Scrabble, Trivial Pursuit, and Uno are the most popular games available in the French market. The average expenditure on toys in France is 60% higher than the European average. Countries such as Germany and the UK are the largest consumers and highest revenue generators in the Europe board games market. - https://www.globenewswire.com/. Why is this important for fantastical gaming, what is the potential for this business?

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Omobolaji Steven Ajayi Developing a Marketing Campaign, Part A

UK is the 4th most popular gaming country - market with approx. £5.7 billion, 32.4 million gamers. Wikipedia Card games and board games are dying out, and it's no great loss - Telegraph (2015 Article) As a consequence, there is strong flow of new product development which makes it harder for manufacturers to get their games and brands noticed (until they discover a successful format). Why can this be damaging for Fantastical Gamings Growth? How can this pandemic benefit Fantastical Gaming? People staying at home etc.

Market Stize and Growth According to Tutor2u ● According to Euromonitor, global board game sales increased to $9.6 billion in 2016 from $9.3 billion in 2013. ● In 2016, the global tabletop market was valued at approximately US$3.2 billion. The global market is expected to grow to US$8.1 billion by 2021 (source: Technavio). ● The overall UK games market is valued at £5.11 billion and grew by 12.4% in 2017. ● According to the UK Games Expo exhibitor guide, in 2018 the UK tabletop gaming segment of this market is worth £350 million. ● According to the market research company NPD, sales of tabletop games in the UK rose 20 per cent in 2016. The key points for students exploring this market are, therefore: ● ●

More than just a niche market - the UK market for tabletop games is worth hundreds of millions of pounds Strong growth - much higher than the overall toy market

Increasing Brand Awareness What type of Advertising would be needed? The SUN newspaper Ad costs ● £80 for a small classified ad to £16,500 for a 34 x 8 ad in the Entertainment section ● Readership: 4.2 million readers every day ● Main target audience: 32% ABC1 demographic ● 404,000 sun readers have a family income of over £50K METRO Newspaper Ad Cost

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Omobolaji Steven Ajayi Developing a Marketing Campaign, Part A ●

The rate cards for the Metro newspaper go from an impressive £250,000 for a national cover wrap, to £10,000 for a 10x7 banner. ● Readership: 2,438,000 ● Main target audience: 58% Men, ABC1 adults ● 52% of readers are 18-44 years old DAILY MAIL Newspaper ad cost ● Daily Mail offers classified ad spaces for prices starting from as little as £300 to the pricey options of over £3,000,000. ● Circulation: 1.2 million ● Main target audience: lower-middle-class British women Tv Ad Cost ● Rates for the smaller digital channels start around £50 to £150 for daytime and £150 to £300 for peak time. ● TV adverts during Good Morning Britain or Lorraine can cost between £3,000 – £4,000. And production costs for actually making the TV advert. Social Media Advertising ● Facebook/Intsagrsm - Average £5.50 for 1000 impressions ● Youtube - $1-$4 per thousand views. (£0.72-£2.89) ● Linkedin - $6.59 1000 impressions (£4.76) Explain why you would use these platforms to advertise? What other ways can you increase Fantastical Gamings Brand Awareness? UK Tabletop Gaming Conventions cost: £3,000 ● The UK Games Expo ● Tabletop Gaming Live ● Other Convention Highlights

SWOT Strenghts Weakness Opportunities Threats

Pestle Political - BREXIT - Cheaper prices to other countries in upcoming years Economical - COVID, More money for government, more jobs Social - Social Media Comparatively, there were 3.8 billion people active on social media last year., Playing with others Technological - Increase in technology, more digital games, Legal - Age Restrictions / Licensing / Cheating, Future Legislation, Health and Safety(Safe around babies?) Environmental - Saving electricity, Recycling?

Aims and Objectives Marketing Mix Product - USP? Product Features? Product Viarieties? Product differentiation from competitors? Packaging? Place - Where is the product made and why? Where is it sold? (Shops, Online), If sold in shops what types of shops will it be targeted to sell at? Price - Price compared to competitors? Pricing Strategy (Happy Hours, Discount, BOGOF, referral code etc.), Ways to pay, Price of production? Price to Value Ratio? (Overpriced/Underpriced) Promotion - Advertising? How will people be aware of it? How much is allocated for marketing?

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Omobolaji Steven Ajayi Developing a Marketing Campaign, Part A People - What happens if you have a problem with the product, who do you speak to? Customer Service? (Phone, Email, Website etc). People for different departments? (Finance. Customer Service, Reception, Customer Service, Website Developers) Physical Environment - What is the the layout and Atmosphere of the stores/website? What is the colour scheme? Why have they chosen this scheme? Is the website plain or very mul-coloured and lots happening? Website/Store accessible to everyone? Process - Are there any systems to train the customer how to use the product? YouTube videos, Instrucon manuals?

Budget £4,000 website development Advertisement ( Split for TV, Newspaper and Social Media) (40% of budget) ● Newspaper - 15% ● TV - 15% ● Social Media 5% Exhibition £3000 per exhibition (40% of Budget)

Gantt Chart Execution Winter (October, November, December and Early January). Planning During Summer Months and Hotter Weathers. What is the intentional purpose for this time frame? Why? Conclusion Extra Data Tabletop games are sold using a variety of distribution channels. The most popular titles are sold online by e-commerce giants such as Amazon as well as an increasing number of specialist online retailers of games such as Games Radar, Games Lore and GamesQuest - tutor2u An interesting development in the market has been the growth of tabletop gaming cafes, including in the UK. These act as a source of community for players as well as a means of promoting new games by manufacturers - tutor2u According to the Washington Post, in 2017 over 5,000 board games were introduced into the U.S. market alone In 2009, there were 479 specialist games and toy stores in the UK. Since then, this number has increased year-over-year, with figures reaching 901 in 2016. Specialist toy stores are also widening the range of tabletop games they stock’ In 2015, over $200 million was raised in crowd funding for board games. Survey Data - 30 people asked 1. Age Range (16-23) 2. 29 people have played a table top game before 1 person hasn’t. (19 year old) 3. 25 people have played a board game, 22 people have played a card game, 7 people played dice games 4. Uno and monopoly most popular games. Uno - 7, Monopoly - 14. 5. 28 people play with family, 8 people play with family and friends or just friends 6. 30/30 enjoyed tabletop games. 7. 4 - less than a week, 2 - 1/2 weeks, 5 - less than a month, 9 - less than 6 months, 3 - less than a year, 1 - 1/2 years, 3 - 3/5 years 2 - 5+ years. 8. 27 people see themselves playing tabletop games in 10 years, 3 people don’t. 9. 2 - £5, 4 - £5-10, 6 - £10-15, 8 - £15-20, 4 - £20-25, 4 - £25-30, 1 - £30+

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Omobolaji Steven Ajayi Developing a Marketing Campaign, Part A

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