[RIVALRY

IN VIDEO GAMES JOSE LUIS GRAMAXO]

Jos Luis Gramaxo P09299465 Strategic management CORP3501 Assignment Two Case Study Report Tutor: Dr. Demola Obembe Tutorial: Tuesday 12PM Rivalry in Video Games Main Body Page Count: 12 Word Count: 3,815

 RIVALRY IN VIDEO GAMES JOSE LUIS GRAMAXO

Executive Summary: The video gaming industry is an intense multi-billion dollar market that has three main competitors, Microsoft, Sony and Nintendo, whose products are the Xbox 360, the PlayStation 3 and Nintendo Wii. Today, consoles are at there seventh generation. The market for video games was started by Atari forty year ago and since then major technological advances have taken place. This is an industry that only the strongest and most efficient companies can survive. The rapid evolution of technology and gamers demanding gaming desires have led to several companies having to exit the market, because they were not able to follow these requirements. Nintendo Wiis motion-sensitive controller has revolutionized the gaming industry creating a whole new market for video games and attracting a complete new age demographic of gamers. Piracy is a major threat to the video gaming industry; it has constantly been stealing revenue to companies and software developers. This could lead to many smaller companies in the industry to declare bankruptcy and scare investors from putting their money into new research & development for new consoles and software. The seventh generation of consoles has now reached its maturity and it is expected that in the following years console manufacturers start to release the next generation of consoles. This will increase sales again and increase revenue for the companies.

[RIVALRY IN VIDEO GAMES JOSE LUIS GRAMAXO] Contents: 1. Introduction...........pg.5 2. Industry Background.pg.6-7 3. Seventh Generation of Consoles: The Big Threepg.7 4. The Quiet Success of the Video Game Industry............pg.7-8 5. Macro Environmental Analysis 5.1 Political....pg.8 5.2 Economical.....pg.8 5.3 Socialpg.8-9 5.4 Technological..pg.9 5. 5 Legal...............pg.9 5.6 Environmental.pg.10 6. Industry Analysis 6.1 Inter-rivalry between Competitorspg.10 6.2 Threat of new entrants......pg.10-11 6.3 Bargaining Power of Costumers..pg.11 6.4 Threat of Substitutes..pg.11 6.5 Bargaining Power of Suppliers.pg.11 7. Internal Industry Analysis 7.1 Strengths..pg.11-12 7.2 Weaknessespg.12-13 8. External Industry Analysis 8.1 Opportunitiespg.13 8.2 Threats..pg.13-14 9. Recommendations 9.1 Opportunity to minimise weaknesspg.14 9.2 Opportunity to maximise strengths....pg.14 10. Future Industry Performance...pg.14-15 11. Conclusion......pg.16 12. References..pg. 17 Appendix A....................................................................................pg.18 Appendix B....................................................................................pg.18

 RIVALRY IN VIDEO GAMES JOSE LUIS GRAMAXO Appendix C...................................................................................pg.19 Appendix D...................................................................................pg.19 Appendix E...................................................................................pg.20 Appendix F...................................................................................pg.20

[RIVALRY IN VIDEO GAMES JOSE LUIS GRAMAXO] 1. Introduction The purpose of this report is to analyse the rivalry in the video gaming industry. The report will follow the TOWS Matrix (See Appendix A), steps in analysing and planning the industry for the future. The report will be divided into three main parts. The first part of this report will give a brief history on the video gaming industry, as well as determining why the industry is so successful, the objective of the first section is for the reader to understand the nature of the competition inside the industry and to understand how companies in the industry are differentiating from each other in order to achieve the most market share as possible. The second part of the report is divided into three main sections; a macro environmental analysis, a P.E.S.T.L.E. Model analysis will be used throughout this analysis; an industry analysis will also be provided using Porters five forces model; finally the second part of the report will be concluded with a S.W.O.T. analysis to determine the internal and external environments of the industry. The third and final part of this report will be used to reflect on what is the probable outlook of the video game industry in the next three to four year and to consider several recommendations in order to maximise the video game industrys strengths and opportunities and minimise weaknesses and threats. Ending the report will be conclusion on the overall industrys environment and performance, competitors rivalry and how will the industry look in a few years.

 RIVALRY IN VIDEO GAMES JOSE LUIS GRAMAXO 2. Industry Background In the late 1970s a new market in the world had emerged. This was the video gaming market. The first generation of video consoles was created by Nolan Bushnell in 1972 and was marketed by Atari. One of the first games was called Pong (KeyNote, 2011). Later on in 1979, Bushnell and Atari launched the second-generation Atari 2600 console with a 4-bit processor and interchangeable cartridges. Following these console were games such as, Space Invaders and Pac-Man. By 1982 Atari held almost 80% of the video games market share (Keynote, 2011). The Japanese video game supplier, Nintendo launched, in 1983, the third generation console Famicom, that had a 8-bit processor. This was a huge success and Nintendo took over Atari market and now held 80% of the total market share (Grants, 2011). In the next twenty years, the fourth, fifth generations of video consoles were launched, which had built-in 16-bit and 32-bit processors accordingly. Consoles during these generations included, Segas Genesis, Nintendos NES, Sonys PlayStation, Segas Saturn, Nintendos N-64. By the end of the fifth generation of consoles, Sony placed itself as the leader of the market, pursuing a strategy, which involved a much bigger library of video games than other competitors (Grants, 2011).
Figure 1

Source: Grants, 2011

In 1999, the sixth generation of consoles was launched. This generation is remembered as the start of Microsoft and Sonys battle over market share. Sega first launched the 128-bit processor sixth generation console with their Dreamcast console. In 2000, Sony launched the PlayStation 2 console. Despite Segas marketing efforts to popularize the Dreamcast console, PlayStation 2s technological advances made the same more popular that the Dreamcast console and generated more sales. November 2001 was marked by

[RIVALRY IN VIDEO GAMES JOSE LUIS GRAMAXO] Microsofts entry into the video game industry with the Xbox. The Xbox was considered a technological breakthrough even more features than the PS2. Although Microsofts Xbox console was extremely successful in the U.S., it had troubled in penetration the Japanese video game market. Microsoft was able to rest at second place in the market just behind Sony (Grants, 2011). The intense competition between Microsoft and Sony caused Nintendo and Sega serious damage. Sega announced the retirement of the Dreamcast console at the end of 2000. Meanwhile, Nintendo was having lots of problems with competing against Microsoft and Sony. By the end of 2006, Sony was leading the market with over 100 million PS2s sold, Microsoft was second with 24 million Xboxs sold, and third was Nintendo with only 10 million GameCubes sold (Keynote, 2011). 3. The Seventh Generation of Consoles: The Big Three The seventh generation of consoles featured the three competitors from the sixth generation, Sony, Microsoft and Nintendo. Despite Sony and Microsofts believe that the market was tending to a duopoly, it turned out to be a three-way competition. Microsoft was the first to launch their seventh generation console in November 2005 with the Xbox 360. The Xbox 360 console included features such as a 256-bit processor; DVD player; HDTV capable; 20 GB hard drive; USB docks; WiFi adapter; Ethernet port, amongst others. Later on, Sony launched the PlayStation 3 although with multiple delays. PlayStation 3s main features included a revolutionary multi cell processor; integrated Blu-Ray; WiFi; USB docks, amongst other. The biggest surprise in the seventh generation of consoles was the release of Nintendos Wii console. Although the Wii console lacked the technological advances of other consoles, its main focus was to the motion-sensitive controller that could recognise several hand movements. Other main features include, Bluetooth technology; USB docks; Internet via IEEE, amongst others (Volberda, 2011). 4. The Quiet Success of the Video Game industry Slowly the video game industry is producing revenues, which are starting to rival the one from the movie and music industries. Despite not having the same limelight as the music industry, which had revenue of $11.6 billion in the U.S. in 2009, the video game industry almost met those numbers hitting revenue of $10.5 billion in the U.S. (Inc. Magazine, 2011). The key critical factors, which contribute to the video gaming industrys success, are

 RIVALRY IN VIDEO GAMES JOSE LUIS GRAMAXO the fact that video games are addictive, persuasive and nostalgic. The excitement for video games will never end. At the moment we are at the end of a generation of consoles and is likely that sales decrease due to the expectation of new generation consoles. When the new, eight, generation of consoles is release it is likely that sales increase again, this due to the new excitement consumers have for new video gaming consoles and their new technological features. 5. Macro Environmental Analysis 5.1 Political Factors such as social welfare policies, foreign trade policies and taxation policies can influence the video game industry. Some video games can play with gamers emotions, which can threaten, in extreme cases, peace and law. The Government has, therefore, the authority to control and restrict the contents of some video games. An example of this was the restriction by the U.K. Government of the game Man Hunt 2 due to its excessive violent contents, which are inappropriate for younger generations (BBC News, 2007). Taxation is also a major political that influences the video gaming industry. For example, in the U.K., the video game market is one of the strongest in terms of government support (Keynote, 2011), these incentives serve as way to promote creativity and to promote new technology advances. 5.2 Economical The U.S., U.K. and Japans economies rely heavily on the video game industry, therefore contributing to the countries GDP (Crandall, 2006). Interest rates dont have much impact as these countries produce their own units. Disposable income affects the consumers buyer behaviour, and therefore the video game industry. For example, when a consumer has less disposable income, he or she may not be able to afford a high price video game. This was one of the reason for Nintendos Wii high sales, due to its low manufacturing costs, Nintendo was able to sell their products at cheaper prices its closest competitors, Microsoft and Sony (Key Note, 2011). Business cycles also affect the video game industry. At the moment the global economy is at a downturn, meaning unemployment is high and people are less and less disposable income to spend on video games, this can be reflected by the decrease in sales since 2009 (Keynote, 2011). 5.3 Social Factors, which affect the video game industry, are population demographics, lifestyle changes, income distribution, social mobility, consumerism, attributes to work, consumer behaviour and level of education. For example, video game companies

[RIVALRY IN VIDEO GAMES JOSE LUIS GRAMAXO] have the social responsibility to try and prevent the addiction to video games, by advertising about potential addiction risks, and by implementing proper referring services (Van Rooij, 2009). Population demographics can affect the video game industry. Although, a population growth may not have a significant effect on the industry, an aging population could have a negative impact on the video game industry, as video game penetration in the market is much lower when consumers are above the age of 60 (Keynote, 2011) 5.4 Technology Technology plays a vital role in the video game industry as the industry focuses to technological advances to achieve competitive advantage over rivals. Technology advances happen very fast, every competitor in the industry uses new technology in new development. Technology upgrading is very expensive and can discourage smaller competitors to innovate (Schilling, 2003). For example, despite Nintendos Wii lacking the technological features of other consoles Nintendos Wii was the first company to introduce motion-control technology. This was a feature that revolutionized the video game industry completely and placed Nintendo as a leader in the video game market. As the market is at present, gamers are already discussing how the next generation of console will be and what technological features will they have. Probably the leader of the next generation of consoles will be the company who will introduce the best technological features, such as best 3D gaming. Technology is attractive, addictive and persuasive and that is the main reason people buy technology, and technology is the reason the video gaming industry is so successful. 5.5 Legal The video game industry has to deal with legal issues such as copyrights, trademarks, licensing, revenue recognition, online ownership and demands of intellectual property. Video games console manufacturers have intellectual property protecting their consoles against rival imitation. This intellectual property can range from console design to its technological features. For example, Sony PlayStation 3 is the only console that can support Blu-ray discs, this is because Sony holds the patent for Blu-ray discs and only allows the PlayStation 3 console to support it, gaining advantage over competitors (Sony PlayStation 3, 2012). Other legal issues can included the products health and safety specifications. Age restrictions are also legal issues the video gaming industry has to deal with. In Europe, the PEGI (Pan European Game Information) classification has been introduce to restrict the age a gamer can start playing a game. Games are rated according to the following criteria; violence; nudity; and language (PEGI, 2012).

 RIVALRY IN VIDEO GAMES JOSE LUIS GRAMAXO 5.6 Environmental The video game industry consumes a lot of plastic resources. Playing video game on computers or television consumes lot of power. Video game console manufacturers have the social responsibility to try and manufacturer their consoles with recycled resources, so that there maximum use of resources and energy use is efficient and to educate gamers on how playing video games can consume a lot of energy. Nintendo, for example, seek to manufacture games, which utilise low power. Through game such as Chibi-Robo: Park Patrol and Super Mario Sunshine Nintendo is educating younger generations on how to improve the environment around them (Van Rooij, 2009). 6.Industry Analysis (See Appendix B) 6.1 Inter-rivalry of competitors The competition in the video gaming console industry is hugely intense as there are three main companies, which are battling for market share, Microsoft, Sony and Nintendo. Throughout the video gaming console industry rivalry between competitors have made some, such as Sega and Atari, to exit the market due to their lack of ability to compete, in this intense market. Below, Table 1 shows the number of sales in 2010 achieved by the six main consoles manufactured by the three companies who control the market share.
Table 1

6.2 Threat of new entrants With the existence of competitors such as Nintendo, Microsoft and Sony, who the three together hold 100% of the U.K.s video gaming market and almost 100% of the worlds video gaming market (Keynote), it is very unlikely that any major competitor will arise, due to the huge costs that would be implied in the development,

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[RIVALRY IN VIDEO GAMES JOSE LUIS GRAMAXO] manufacturing and marketing of a new competitors console. The new company would have to have immediate success and huge volume of sales just in order to compete with the rest of the industry. Possible entrants in the market could be a comeback from Sega entering the market again, or possible Apple releasing a gaming purposed console. 6.3 Bargaining Power of Customers The video gaming industry is an oligopoly, meaning there are only a few companies who have the industrys market share. The industry has imperfect competition due to the three main companies who control the whole market share, Microsoft, Nintendo and Sony, who only release a controlled variety of games to the market. Therefore, the consumer bargaining power is mixed. The customer cannot demand lower prices, even though there is huge demand. What can happen are consumers opting for the lowest price console, in this case the Nintendo Wii. Consumers would only have complete bargaining power over video game console companies if they all opt for the lowest price console, meaning more expensive console companies would have to lower their price in order to gain sales and market share again. 6.4 Threat of Substitutes Video game consoles have extreme quality video gaming and it is very difficult that any other hardware platform will replace the traditional consoles. The possible substitutes for the video gaming consoles would be computers, smartphones and tablets. It is very unlikely that these products will substitute the video game consoles because they are not built with the purpose of video gaming therefore they will not achieve the gaming quality that consoles such as the Xbox 360 and the PlayStation 3 have. 6.5 Bargaining Power of Suppliers Video game manufacturers have almost complete control over suppliers due to the fact that there are much more suppliers than video game manufacturers, suppliers have to compete between each other to guarantee the supply contracts to video game manufacturers, meaning companies like Microsoft, Sony and Nintendo can demand low prices from suppliers. 7. Internal Environmental Analysis (See Appendix C) 7.1 Strengths The market for video game is reaching maturity, if not already reached (Key Note, 2011), and the industry is well established in the global economy. This is shown by an ever-increasing market value and a greater user-base. Figure 2 shows the market size for the video game and console industry in the U.K., although sales fall sharply in

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 RIVALRY IN VIDEO GAMES JOSE LUIS GRAMAXO 2009 they do not reflect customer saturation to the industry. The decrease in sales reflects the less disposable income consumers have to spend due to the credit crunch crisis.
Figure 2

The ever-increasing video gaming market has been attracting major global companies, causing them to invest in the industry (Keynote, 2011). This keeps investment in the industry high allowing for further Research & Development in the industry. This can only be good for the industry as it allows for new technology to be developed causing a continued consumer attraction and entertainment for the video gaming market. Nintendos Wii has brought video gaming to a new age demographic, attracting older and younger gamer due to its easy to learn and interactive gaming (Mintel, 2010). Big game franchises such as, FIFA and Call of Duty are starting to reach similar status as Hollywood blockbusters (Mintel, 2010). This represents a major revenue stream for the video game industry. 7.2 Weaknesses The video game and console industry is hugely reliant to research & development. (Key Note, 2011). This research & development is essential to keep attracting consumers in buying in consoles and video games. This can be a huge problem for companies in the industry due to the huge costs involved in developing to new hardware and software. Piracy is a major problem in the industry. If video game piracy continues or grows this may cause companies to have huge losses. Although console manufactures have installed in-build security features, piracy continues to be a problem and is likely to continue this way. The video game industry is very reliant on video game franchise such as, FIFA, Call of Duty, Gran Turismo or Super Mario. These franchises generate huge profits for the industry and if consumers started to turn their back to these franchises the industry could

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[RIVALRY IN VIDEO GAMES JOSE LUIS GRAMAXO] suffer severe losses as a result. Figure 3 shows the U.K.s leading video games in 2010, notice 6 out the 10 ten leading video games are franchises.
Table 2

8. External Environmental Analysis (See Appendix C) 8.1 Opportunities Buying video games online is becoming one of the fastest growing sector of the video gaming industry (Key Note, 2011). This could be represent huge profit for video game companies. If consumers bought their video games through online shops, such as the PlayStation Network online shop and the Xbox Live online shop, companies costs, such as distribution costs, would significantly be lower resulting in greater profits for video game companies. Consumers are starting to prefer product and ideas, which are made to order. They are happy to extra for additional downloadable content for their games, in order to personalize the game in their own style to make it unique. This represents a major opportunity for video games companies to develop a new niche market inside the video gaming industry. (Mintel, 2011) With the Xbox Kinect and the PlayStation Move accessories, Microsoft and Sony have a huge opportunity to further develop the motion-sensitive market started by Nintendos Wii console. 8.2 Threats Over the past forty years the video gaming has been supported by seven generations of consoles. If the eighth generation of consoles is badly accepted by consumers then the video gaming industry is likely to become seriously damaged.

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 RIVALRY IN VIDEO GAMES JOSE LUIS GRAMAXO Social media games such as Mafia Wars or Farmville, on social media site have become increasingly popular. This social media games are usually free of charge and can cause consumers stop buying consoles and video games and opt for these free social media games. There is a danger that a person who only plays video games casually may stop playing games definitely. This type of gamer has been particularly prevalent in the video game industry, maybe because of the lack of new games targeted to this type of consumer (Key Note 2011), or just because they are not regular gamers and therefore not willing to spend a portion of their disposable income during a world recession. 9. Recommendations 9.1 Opportunity to minimise weakness The increasing online video game shopping can be used as a tool to reduce the amount of video game piracy in the market. Increasing the marketing expenditure in advertising online video game shopping, will increase the customer awareness that there is a possibility of buying a game online without the hassle of driving to a game store and having to buy the product. If customers start to buy online piracy can be better controlled. For example, the music industry was having serious problems with piracy because people did not want to have tangible CDs anymore and piracy was almost completely stealing revenues from the music industry. The answer to this was iTunes, a place where people could buy their music online and storing them inside the computers hard drive (Berman-Grutzky & Cederholm, 2010). 9.2 Opportunity to maximise strength The market created by Nintendo Wiis motion-sensitive is huge. New age demographics are now playing video games cause of its easy to use features. In late 2010, Sony and Microsoft have entered also this market by introducing the Xbox Kinect and the PlayStation Move (Mintel 2011). This is a market that has yet to reach maturity (Keynote, 2011) therefore business opportunities for expansion in order to increase market value can be found. Exploring new functionalities for the motion-sensitive controller technology should open the doors to increase market value for that sector and therefore increasing revenue streams for the industrys companies (Sung, 2011) 10. Future Industrys Performance The future for the video game industry relies on the next generation of consoles. Expected to be released, between 2012 and 2013 the next generation of consoles will be the

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[RIVALRY IN VIDEO GAMES JOSE LUIS GRAMAXO] key factor, which will determine how the industry will look like in a few years. Figure 4 show the U.K. video game market forecast throughout the years of 2006 to 2016, the graph can be used also as a predictor for the worlds video game market value, due to the fact that the U.K. is the third largest video game market in the world (Mintel, 2010). As the graph shows the market value is expected to maintain steady during 2012 and then increasing significantly in 2013. This forecasted increase is due to the probable launch the next generation of consoles. Mintel (2011) also predicts a best and worst case scenario. These scenarios are based on the success of the new generation consoles.
Figure 3

I predict that in the future online game sales will become one of the biggest video games distribution channel. Companies will market their products directly to gamers through their online networks; this will reduce hugely distribution and manufacturing costs. Although this may seem great, causality will be companies who, for example, manufacture DVDs and Blu-ray discs or video games cases will eventually start to lose revenue and might bankrupt due to their reliability on the video game industry.

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 RIVALRY IN VIDEO GAMES JOSE LUIS GRAMAXO 11. Conclusion The video game industry has a very unforgiving market. The competition is very intense and only who holds the latest technology can hold on to the market. Companies such as Atari and Sega are examples of the industrys causalities. These companies werent able to follow the rapid technology advances and eventually lost consumers confidence and had to exit the industry. Microsoft, Sony and Nintendo fight solely in the industry for market share; they are the three dominant companies of the video gaming industry. Whenever one introduces a new feature in the console the other two rapidly follow the other. This was the case with Nintendo Wiis motion-sensitive controller, which was Nintendos critical success factor to make the Wii console successful. One year after Nintendo released its motion-sensitive controller, Sony and Microsoft launched similar technologies, Xbox Kinect and the PlayStation Move, in order to compete with Nintendo and prevent it from achieving the status of market leader. The video game industry affects peoples emotions and feelings. It is a very powerful machine and has to be monitored carefully, even though there are rating systems such as PEGI, no one cant prevent a 10 year-old from playing a game rated by PEGI for 18 year-olds or older only; this can cause a serious brainwash for younger gamers. Battle games usually involve some kind of historical script; this can be some past war, such as World War II, or some religious conflict, for example Christians against Muslims. Younger generations dont know how to separate the real from fiction, and when the bad guys in a game are Muslims, the young gamer might develop some kind of hate to Muslims just because of the contents of the game he played. The future waits the new, eight, generation of consoles. Expectations are high. Gamers are expecting from the new generation of consoles the ultimate gaming experience. If the console manufacturers achieve this then the future of the video game industry is very bright indeed.

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[RIVALRY IN VIDEO GAMES JOSE LUIS GRAMAXO] 12. References: BBC News. (2007). Censors ban 'brutal' video game. Available: http://news.bbc.co.uk/1/hi/england/leicestershire/6767623.stm. Last accessed 22nd Jan 2012. Berman-Grutzky, M; Cederholm, A. (2010). The Obstacles and Opportunities for Digital Distribution in the Video Game Industry, Today and Tomorrow. Royal Institute of Technology. p1-56. Crandall, R., & Sidak, J. (2006). Video Games: Serious Business for Americas Economy. Entertainment Software Association White Paper. ESA. Grant, R (2010) Contemporary Strategy Analysis, Wiley. KEY NOTE (2011) Video Gaming: Key Note market report. 1st ed. Teddington: Key Note. MINTEL (2010) Video Games and Consoles: Mintel marketing report. October 2010. London: Mintel Oxygen MINTEL (2011) Video Games: Mintel marketing report. November 2011. London: Mintel Oxygen PEGI. (2012). About PEGI. Available: http://www.pegi.info/pt/index/id/390/. Last accessed 23rd Jan 2012. Schilling, M. (2003). Technological Leapfrogging: LESSONS FROM THE U.S. VIDEO GAME CONSOLE INDUSTRY. California Management Review. 45 (3), p632. Smith, D. (2011). Behind the Quiet Success of the Video Game Industry. Available: http://www.inc.com/articles/201104/behind-the-quiet-success-of-the-video-gameindustry.html. Last accessed 23rd Jan 2012. Sony Playstation 3. (2012). PlayStation 3 Features. http://us.playstation.com/ps3/features/. Last accessed 23rd Jan 2012. Available:

Sung, K. (2011). Recent Videogame Console Technologies. Available: http://www.cs.siue.edu/~wwhite/IS376/Readings/15a_RecentVideogameConsoleTec hnologies.pdf. Last accessed 23rd Jan 2012. Van Rooij, A, Meerkerk, G. (2010). Video Game Addiction and Social Responsibilty. Addiction Research and Theory. 18 (5), 489-493. Volberda, H; Morgan, R; Reinmoller, P; Hitt, M; Ireland, R; and Hoskisson, R. (2011) Strategic Management:Competitiveness and Globalization (Concepts and Cases), Cenguage Learning EMEA, Andover, England. P.765-770.

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 RIVALRY IN VIDEO GAMES JOSE LUIS GRAMAXO Appendix A TOWS Matrix

Appendix B Industry Analysis (Porters 5 Forces Model)

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[RIVALRY IN VIDEO GAMES JOSE LUIS GRAMAXO] Appendix C Internal and External Industry Analysis (S.W.O.T. Analysis Model)

Appendix F Market Analysis

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Appendix E Company Reputation

Appendix F Porters Generic Strategies (Product Differentiation)

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