Service Dominant Logic of Marketing System †Free Samples to Students

Question: Discuss about the Service Dominant Logic of Marketing System. Answer: Introduction Marketing is a vast concept. Application of rational thinking in the execution of the marketing activities helps the personnel to expand the scope and arena of the business. As a matter of specification, the assignment looks into the marketing environment of company and organizations like Nintendo (Hollensen, 2015). The focus of the assignment is on the marketing of video game console offer for 3DS XL. Brief insight into the micro and macro environment enhances the clarity of the readers in terms of the business operations of such video game companies. Along with this, insight into competitors reflects the attempt of the personnel regarding the achievement of large number of customers (Kotler Armstrong, 2010). With its headquarters in Kyoto, Nintendo has achieved accolades and glory by serving quality electronics to the customers. This has been possible due to the presence of 5166 skilled and efficient employees. Among these, the major attraction is the video games for the children. The company is public, traded as TYO: 7974. The company operates under video game industry and consumer electronics (Nintendo.com, 2017). As per the annual report of 2017, the annual revenue is 489.095 billion yen. The operating income recorded is 29.362 billon yen. The profit generation through the sale of the electronic goods and video games is 102.574 billion yen. The total assets and liabilities of Nintendo is 1.469 trillion yen and 1.251 billion yen respectively. The subsidiaries of Nintendo are 1 UP Studio, Monolith Soft, Nd cube, Retro Studios and iQue. Microsoft x-box is one of the efficient competitors of Nintendo. Manufacturing wide range of home video games intensifies the competition with Nintendo in terms of luring the child customers with wide-ranging video games. Along with this, Sony is also one of the potential competitors of Nintendo (Perreault, Cannon McCarthy, 2013). Play stations of Sony acts as a threat of substitutes for Nintendo in terms of attracting the customers with modern accessories along the games. Nintendo caters to the needs, demands and requirements of customers from all age groups. For this, the personnel abide by the psychological and behavioral segmentation. This is in terms of serving quality and branded products according to the purchasing power of the stakeholders. 3DS XL would cater to the customers, who are very passionate towards adventure (Babin Zikmund, 2015). Factors like income of the customers, fluctuation in prices of the spare parts and inflation pose as an obstacle for Nintendo personnel in terms of setting prices for the customers. Even if the prices of the video games are set, it is very difficult for the middle class customers to purchase the video games and the electronic goods. Along with this, the harsh and orthodox tax regulations stall the import and export activities, which deprive the foreign customers from possessing their branded goods and video games (Armstrong et al., 2015). Prior to the release of the 3DS XL, the personnel need to indulge in meetings with the trade union members for stabilizing the financial parameter. Adherence to the legislations like Data Protection Act (1998) would help the personnel of Nintendo to protect the customers from falling prey to cyber crimes. Along with this, compliance with the standards of the computer Misuse Act would help the personnel to keep a track of the utilization of the systems by the stakeholders. Herein lays the importance of privacy policies and cookies, which informs the stakeholders about the steps undertaken for ensuring their wellbeing. For 3DS XL, privacy policies and cookies would be crucial in terms of protecting the children from the adult contents (Nintendo.com, 2017). Description of the target market In order to describe the wealthy urban families, there are certain specifications, which needs to be elaborated. These includes- geographic, demographic, psychographic and benefit. As a matter of specification, the game would provide a thrilling experience to the customers belonging to the age group of 28-40 years of age. Children would like the features, although they would not understand the ways and means to control the keys and play the game. Countering this, the children would also like the built up of the video game (Nintendo.com, 2017). The price of the product is $199, which aligns with the income of the middle class customers, working as lawyers, accountants and others. The customers living in the urban areas would find the video game within their budget, which provides them with enhanced opportunities to exercise their purchasing power in an efficient and effective manner. According to the surveys conducted by Nintendo personnel, the percentile of video games lovers in Australia is more than 65%. This is because most of the people suffer from stress and need entertainment to re-energize themselves (Nintendo.com, 2017). Nintendo abides by the privacy policies and the cookies, which reflect their placement of targets on the families, which possesses the basic values, are socially aware, and hold conventional traditions. Apart from this, the attributes of status, prestige, reliable would add value to the offer identified by Nintendo personnel for marketing. Before launching an offer in the market, the personnel need to think of the Unique Selling Proposition (USP). Under this, there are several factors, which the personnel need to consider- features of the product, quality, brand recognition and prestige. This is applicable for all of the companies and organizations like Nintendo (Nintendo.com, 2017). As a matter of specification, Nintendo creates strategies for progressing with the marketing of 3DS XL. One of these strategies is advertising, which would offer the brand a better placement in the market. Within this, clear description of the inbuilt features informs the customers about the specific details of the video game. Controlling feature through the c-stick helps the customers to regulate the pictures, which can be taken along with playing with the game. The additional buttons expose the children and the adults to more features of the video game. This aspect increases the quality of the product, 3DS XL. Along with this, looking into the ease of the customers through the installation of the adjustment features makes the brand a popular one within the customers, enhancing its reputation (Nintendo.com, 2017). However, amiibo creatures would be a favorite among the children. The speed of the battery is also one of the essential factors, which would determine the quality of the video game, 3DS XL. Power booster would be one of the important factors, which would determine the durability of 3DS XL. In terms of advertising, the Nintendo personnel need to take special care of the individual sentiments of the customers. Effective utilization of the privacy cookies and policies would help the personnel to avert the illegal and courtly interventions. As the product has the feature of data sharing, parental supervision would be a crucial factors in terms of safeguarding the children from falling prey into the instances of cyber crimes (Menon et al., 2015). The investigation policies upon encountering the unwanted instances reflect the conscious attitude of the personnel towards ensuring the wellbeing of the customers, especially the children as they lack the understanding of the specifications. The main aim of these brands is to achieve large-scale customer satisfaction. However, the threat of substitutes deprives the customers from possessing quality and branded products like the video games. As a matter of specification, the play stations of Sony have modern and innovative features, which is also available in the Xbox of Microsoft. This reflects internal competitions between the brands, compromising the needs, demands of the customers (Lusch Vargo, 2014). In the above positioning map, it can be detected that Microsoft Xbox games are easier to use and have high fun factor. This connotation poses as an obstacle for Nintendo to lure the customers. In comparison to Microsoft Xbox, play stations of Sony possess less fun factor and are less easy to use. This provides Nintendo with the opportunity to lure the target market with the manufacture of high quality video games. This can be explained better with the help of a position map. As per the figure, Nintendo is placed above t he axis, which is flexible enough for penetrating into foreign markets. However, the personnel need to execute evaluation for upgrading the standard and quality of the current performance. Consistency needs to be maintained in the execution of evaluation, which would make the personnel aware of the drawbacks in their performance (Kotler Armstrong, 2010). Conclusion This assignment emerges successful in providing an insight into the efficient and effective means of marketing. Insight into microenvironment enhances the clarity of the businesspersons regarding the ways and means of developing the infrastructure. This insight acts as an agent for penetrating into the external environment. However, for this, the companies and organizations need to bear in mind the factors, which obstruct the process of positioning the products in the market. In terms of 3DS XL offer, privacy cookies and policies seem effective in terms of ensuring the safety and wellbeing of the customers especially the children. All these facts possess flexibility to bestow better placement on the company and enhance its reputation even in the thresholds of foreign markets. References and Bibliography Armstrong, G., Kotler, P., Harker, M., Brennan, R. (2015).Marketing: an introduction. Pearson Education. Atwal, G., Williams, A. (2017). Luxury brand marketingthe experience is everything!. InAdvances in Luxury Brand Management (pp. 43-57). Palgrave Macmillan, Cham. Babin, B. J., Zikmund, W. G. (2015).Exploring marketing research. Cengage Learning. De Mooij, M. (2013).Global marketing and advertising: Understanding cultural paradoxes. Sage Publications. Hollensen, S. (2015). Marketing management: A relationship approach. Pearson Education. Kotler, P., Armstrong, G. (2010).Principles of marketing. Pearson education. Lusch, R. F., Vargo, S. L. 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