GameStop Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of GameStop analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on GameStop marketing mix, help the brand succeed in the market. Let us start the GameStop Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
GameStop Product Strategy:
The product strategy and mix in GameStop marketing strategy can be explained as follows:
GameStop is one of the largest video game and console retail store based out of USA. GameStop generally deals with video games in the form of DVDs for gaming consoles like Xbox, PlayStation, PC. The games can vary from Super Mario Bros to Battlefield. GameStop is not the manufacturer of the games, it plays the role of a retailer in its marketing mix product portfolio.
Apart from video games for various devices, it also sells other products like superhero merchandise, board and card games, bean bags. In the consumer electronics, it sells smartphones, wearables, tablets, speakers, Tv and monitors. It's subsidiary brands includes EB Games, Rhino games, ThinkGeek etc.
Image: flickr.com/photos/jeepersmedia/
GameStop Price/Pricing Strategy:
Below is the pricing strategy in GameStop marketing strategy:
The main target of the GameStop products are teens and youth. It sells the pre-owned and refurbished gaming devices at competitive price.
For the video games, it has competitive price strategy. As the customer base of GameStop primarily consists of young people who do not have a credit/debit card due to which they are not able to purchase games online hence turn to physical stores. Stores also provide an option to re sell the DVDs so that they game some amount after they played the game.
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GameStop Place & Distribution Strategy:
Following is the distribution strategy in the GameStop marketing mix:
GameStop is sells products online through its website. It has more than 4000 outlets in United States, Canada, Australia, New Zealand, America and Europe. Due to demand in China and India, it plans to open store in these locations. Due to huge number of stores, GameStop had a good distribution network.
With the growth of internet, GameStop has also transformed its website as a fully functional ecommerce portal for purchasing games online.
GameStop Promotion & Advertising Strategy:
The promotional and advertising strategy in the GameStop marketing strategy is as follows:
GameStop is the only dedicated video game retailer which makes it natural choice for the consumers. Most of the promotions are done online through the use of its site through gift cards, weekly ads, discounts and deals. It has a Powerup Rewards membership option in which you get extra benefits for the amount spent on purchase at GameStop. It also attracts consumers by offering pre ordering games before their launch. There are some products which are exclusive to GameStop.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of GameStop.
People:
GameStop employs more than 30,000 people directly or indirectly through its stores. Most of the employees are present at the stores. Before being hired for the job, they are tested on their knowledge on games and consoles. Employees are motivated to keep themselves with the latest games by allowing them to take games to their home and play them. Good employees also attract devoted customers because they can discuss their experience with them.
Process:
The purchase process at GameStop is very simple. Products can be purchased at the stores where customer can get the product by paying in cash or card. To buy the products online then the customer has pay by credit/debit card or net banking. The products can either be downloaded or sent through courier.
Physical Evidence:
Most of the purchases are done at the store where employees are very helpful and catering. The main physical evidence of the brand are its stores, which offer all types of games categorized by consoles, genres etc. They will help in choosing the right product and installations. Customer support is provided to people who purchase it online. This completes the marketing strategy & marketing mix of GameStop.
About GameStop:
GameStop is a video game and electronic goods retailer based out of Unites States of America founded in 1984. This company operates through both online and offline route to sell its product. The company also has video games reselling business. The company is listed and traded in New York Stock Exchange under the ticker GME. It has a net-assets of $5 billion with more than 22000 full time employees and same number of part time employees. Apart from the video game selling business, it also owns Game Informer which is a video game magazine.
This company started after its parent company like NeoStar Retail, Babbage Etc, Barnes & Mobile merged to form GameStop. The tagline of the company is “Power to the Players”.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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