Cango Market and Competition Research free essay sample

6. Market Research / Competition Research Issue #6: Market Research / Competition Research CanGo is a company that has been successful by luck and has a staff that has the experience and qualities that are needed to bring this company to a much greater success. One of the areas that CanGo seems to be lacking in would have to be the market and competition research department. In order to implement their plan successfully they are going to need to come up with a better technique for obtaining marketing and competition research. Having ample market research for the company’s new venture will provide them with not only a competitive advantage, but they will also reap from the benefits with above average profits in return. By having the right competition research for the company’s new venture they will have an advantage providing the customer with the online gaming experience they are already use today, but done with a twist by adding real time to it. We will write a custom essay sample on Cango Market and Competition Research or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page One thing I did notice is that they seem to be attracting their market through differentiation by selling a specialized product which would be their online gaming in real time and they are selling to a specific target market which would be the generation Xers and Yers. I believe this is a good strategy for going into the gaming niche because the average age for gamers based on a study in 2011 by Gerald Lynchon, was of 1,452 self-confessed gamers, ages 18-40, have revealed that on average button mashers will spend 1. years of their lives button mashing. (Lynchon, 2011) Recommendation #6- The employees of CanGo are on the right track, but having a great idea is more than likely going to lose them money if they don’t use their individual research skills to provide an over all feasibility study to go along with that great idea. Through surveys, literature research, internet research, and other information gathering techniques, the employees of Cango can learn the trends in the gam ing industry, as well as individual preferences of their potential customers. Also being in a well-defined industry, like games, they might find that their national professional organization has already conducted research studies on behalf of the members of the organization. Like mentioned the employees have the skill to provide this company with a great product and by utilizing these skills in the right manner I believe they can manage this and be successful at the same time. Reference Lynch, Gerald. (2011, July 13). Average gamer spends 1. 8 years of their life button mashing. Retrieved from http://www. techdigest. tv/2011/07/average_gamer_s. html