RECOMMENDATION JUSTIFICATION REPORT

Formal Recommendation Justification Report



Formal Recommendation Justification Report

Introduction

Technology advancement has increased the standard of life. Latest gadgets not only fulfill the need of consumers but also provide them satisfaction. Seeing the orientation of consumers towards handy gaming gadgets, Panasonic Corporation has introduced a gaming console “G-Zone” that is a powerful piece of hardware providing the cutting edge of gaming entertainment. G-Zone is a portable gaming console supporting various functions not only limited to gaming. Since its founding in 1918, it has grown to become one of the largest Japanese electronics producers along with Sony and Toshiba. In addition to electronics, Panasonic offers non-electronic products and services such as home renovation services. Panasonic was ranked the 89th-largest company in the world in 2009 by the Forbes Global 2000 and is among the Worldwide Top 20 Semiconductor Sales Leaders.

Mission Statement

“We enable consumers to improve the quality and convenience of their lives by providing innovative electronics solutions.”

The Product

“G-Zone” latest gaming console developed by Panasonic Corporation is differentiated from other major gaming consoles currently present in market. Main features of this gaming console are as follows:

This gaming console is portable and can be taken anywhere easily. It enables the user to play games as they go from one place to other

Supports multiple gaming codec features

Gaming console dimensions are: 6”x3.5”

Supports video playback in DVD, BluRay, DivX, H264 format

Store and listen to music as they go (support MP3, MP4, AC3, and FLAC format)

Built-in capacity of 16GB which can be extended up to 32GB

Fully customizable video display support

USB Pug-in Support that enables internet access

Open source code programming to create and install customized games on console

HDMI connection for optimum output on HDTV

These features fully support the mission of giving convenience to one's life. Keeping multiple gadgets is a hassle. Therefore, Panasonic Corporation has invented this gaming console with multiple features in addition to gaming. It enables user to have flexibility in their live while keeping everything they need in one gadget (Shelly, 2009).

Consumer Product Classification

G-Zone gaming console will be classified as Shopping Product. G-Zone is a technological product and people make considerable evaluation when purchasing technological devices. However, G-Zone will be classified as a heterogeneous product based on its product offering.

Target Market

Segmentation approach will be used to reach targeted customers. Main target market for G-Zone is young individuals who are more oriented towards technological gadgets (Juul, 2009). Youngsters and teenagers between the ages of 13-30 years will be targeted. In addition to that, female age between 15-30 years will also be targeted who like to watch videos and movie buffs. On the basis of geographic segmentation, consumers in Northern American, Japanese, and the European markets will be targeted for G-Zone.

Competitive Situation Analysis

Competitive Rivalry

Three major competitors of Panasonic Corporation in the market for G-Zone console are Microsoft, Nintendo, and Sony with regard to their products, prices, sales units and game range (Juul, 2009). Main competition that Panasonic Corporation can face will be from Sony through its PSP ...