Final project -- MyTeam.com. Business & Marketing Essay

YOUR NAME
SUBJECT AND SECTION
PROFESSOR’S NAME
DATE OF SUBMISSION
Executive Summary
MyTeam will offer a gaming platform where online gamers are given the opportunity to find the right teammates who’s playing the same game. The service proposed will be for online game players to have a unique experience while playing online games with other players The target group of customers is online gamers particularly ages between 15 – 25 years old and anyone who has interest in playing online games.
According to IBIS World, the estimated market size for Arcade, Food & Entertainment Complexes in the US industry statistics is $3bn. In video games alone, the U.S. industry trends have an average industry growth (2024-2019) is 14.4%.
The company’s goal is to provide support for users to find their right match of teammates. Getting better and not relying on their teammates have been proven to do the players no good based on gamers’ discussions. The growing population of gamers recognize this need - that coordinated players are key points to win matches.
Key to success:
* Establish a platform for savvy gamers so that they can interact like in a community
* Create an online community for gamers that appeal to niche and wide audiences alike.
* Create a gaming platform that centralizes on quality, design, improved overall gaming experience, and excellent customer satisfaction.
Introduction
Video and online games have contributed greatly to mainstream entertainment, with the increasing number of gamers. There were various changes and modifications with the advancement of technology and the emergence of new business approaches that have resulted in this highly dynamic industry. With the constant increase in incomes and sales, this industry has become more appealing and interesting to both investors and entrepreneur.
The current young generation of business professionals is the pioneer to have lived with the video game phenomenon and feel that they have the right to claim its ownership. This, in combination with the rising opportunities and reduced limitations to entry, has steered to a sensation of various game startups that rapidly rises and falls as entrepreneurs or the game creators prefer to create games that they enjoyed as children. According to comScore, the online community of gamers have exceeded 217 million people in 2007. Studies have also shown that approximately 3 billion hours a week are spent on average by playing video and online games (McGonigal 2011). This have led for video game companies as well as small scale game business startups to start utilizing this growing market, exploring what should be done to be successful.
There are several various ways for entrepreneurs in the gaming industry to be profitable and to achieve success. Some are well-grounded according to industry practices, while others are at the young stage and was pulled out by technological innovation. In 1990s, the emergence of e-business has delivered a new kind of platform for several companies in reaching their respective customers. With technology as its center, gaming community grabbed this opportunity and embraced the incoming changes.
Business Model & Strategy
Customer Value P...