2. Video game marketing plan sections

The marketing plan for a video game company is essential. A solid and effective marketing strategy must be created to achieve and exceed the company’s objectives. 

An effective marketing plan should include the following sections:

• Executive summary: a brief but comprehensive summary of the main objectives, strategies and tactics of the marketing plan. An executive summary marketing plan is a concise overview of the entire marketing plan, summarized into a few pages. 

It provides an at-a-glance understanding of your marketing goals, strategies, and expected outcomes. Think of it as a sneak peek into the full marketing plan that entices readers to explore further.

• Situation analysis: a detailed analysis of the video games market, including market size, trends, key competitors, market segments, opportunities and threats.

A situation analysis of a marketing plan is when marketers analyze the marketing situation or position of a company’s plan for marketing to their audience. To do a marketing plan situation analysis, you must consider the current state of the market and how it may influence your ability as a marketer to appeal to customers. Some things you might research in a situation analysis for marketing are the feelings of customers, your competitors’ appeal to customers and what distinguishes your company’s products from others.

• Competitor analysis: an assessment of the marketing strategies of key competitors, including their market position, unique selling proposition and advertising campaigns.Competitive analysis in the video game industry is a comprehensive process that involves examining various factors including sales performance, market positions, strengths and weaknesses of current and potential competitors. This analysis is critical for any company looking to enter or expand in the video game market. 
• Target audience analysis: a detailed description of the company’s target audience, including their needs, wants and buying behaviour.

It entails collecting and evaluating data on the intended audience’s demographics, attitudes, values, interests, and lifestyles, as well as their level of engagement with the product or service. This analysis provides information to improve marketing campaigns and product or service development

• Unique selling proposition (USP): a clear and concise description of the company’s USP, i.e. what makes it unique and attractive to its target audience.The Unique Selling Proposition (USP) for the video game industry is a critical factor that differentiates a game or company from its competitors.

Every self-respecting company needs it. USP means offering a service that no other company currently offers to its customers: it is the unique proposition that sets the brand apart.

The USP is what represents one’s business.

A USP illustrates to the public how and why the brand is different. It is what makes a game or brand stand out in a crowded marketplace.

In an increasingly competitive marketplace, consumers are accustomed to documenting themselves before choosing a product, to understand, in the magnum sea of offerings on the market, which features distinguish a product and which best meet their needs. However, this selection can be a daunting process for customers who lack the experience to understand what distinguishes one competitor from another. For this reason, it is critical to identify a differentiating USP from the competition. 

• Marketing objectives and strategies: a detailed description of the company’s marketing objectives, as well as the strategies and tactics to achieve them. Marketing objective is a goal that one wants to achieve for the brand or business. It is basically the intent for the brand or business. Whereas Marketing Strategy is the path that one would follow to achieve that goal. Strategy is the direction and the blueprint towards achieving that objective.

Smart goals are:

• Specific: Marketing goals that are specific allow for effective planning.
• Measurable: You should have a way to measure your progress toward your goal. If you are unable to measure the effectiveness of your strategy on your goal, then you should probably reevaluate your goal or establish one that’s more specific.
• Achievable: Consider goals that you and your team will be able to actually achieve within a certain timeframe. It should be very reasonable to see this goal come to fruition.
• Relevant: It’s also important to make sure the marketing goals are relevant. They should incorporate existing goals and values that are set forth and define what the company stands for as a whole.
• Time-based: A time-based goal should have an end date in place for when you want to achieve the goal. Timeframes keep people motivated and, if you aren’t able to meet your goals within the timeframe, you’ll be better able to understand why and pivot.
• Marketing objectives differ from marketing goals, although you may see the two used interchangeably. Marketing objectives are usually completed in the short term and they are specific, using timeframes, measurement methods and more to define them. Marketing goals are more long term and are in line with a company’s overarching mission and purpose. You use your marketing objectives to reach your marketing goals.

• Marketing mix plan: a detailed description of the marketing tactics that will be used to implement the marketing strategy, including products, pricing, promotion and place. The four Ps classification for developing an effective marketing strategy was first introduced in 1960 by marketing professor and author E. Jerome McCarthy.1 It was published in the book entitled Basic Marketing: A Managerial Approach. Depending on the industry and the target of the marketing plan, marketing managers may take various approaches to each of the four Ps. Each element can be examined independently, but in practice, they often are dependent on one another. 

• Product: This represents an item or service designed to satisfy customer needs and wants. To effectively market a product or service, it’s important to identify what differentiates it from competing products or services. It’s also important to determine if other products or services can be marketed in conjunction with it.
• Price: The sale price of the product reflects what consumers are willing to pay for it. Marketing professionals need to consider costs related to research and development, manufacturing, marketing, and distribution—otherwise known as cost-based pricing. Pricing based primarily on consumers’ perceived quality or value is known as value-based pricing.
• Place: When determining areas of distribution, it’s important to consider the type of product sold. Basic consumer products, such as paper goods, often are readily available in many stores. Premium consumer products, however, typically are available only in select stores.
• Promotion: Joint marketing campaigns are called a promotional mix. Activities might include advertising, sales promotion, personal selling, and public relations. One key consideration is the budget assigned to the marketing mix. Marketing professionals carefully construct a message that often incorporates details from the other three Ps when trying to reach their target audience. Determination of the best mediums to communicate the message and decisions about the frequency of the communication also are important.

• Budget: a detailed budget for the marketing plan, including the costs associated with each marketing tactic and a projection of expected revenues.

A marketing budget is the total amount of money you have to spend on your marketing strategy. A marketing budget plan is a detailed document that outlines where you will invest your marketing funds, along with the who, what, why, and how of each expected expense. A marketing budget outlines the specific amount of money a company allocates to its marketing activities. It influences your marketing strategy by helping you understand how much you spend promoting your business. Like most business operations, determining a marketing budget can be a challenge.

• Measurement and analysis: a description of how the results of the marketing plan will be measured and analysed, including key performance indicators (KPIs) and success metrics. A marketing measurement plan lays out specific goals, KPIs and expectations for your business. Marketing teams are able to attribute results to specific marketing efforts through data analysis. It’s a process to align your whole business, so stakeholder objectives inform marketing strategy and action plans.
• Implementation schedule: a detailed timeline specifying when each of the marketing tactics will be carried out, and who will be responsible for implementation. A marketing implementation plan is a critical component of a comprehensive marketing plan, providing a clear roadmap for executing marketing strategies and tactics. It outlines specific actions, timelines, responsibilities, and resource allocations to achieve the desired outcomes. A marketing implementation plan is the process of taking action on strategies, projects, or tasks for advertising a product or service. It is important to the marketing strategy because it defines the business’ marketing objectives and ensures it aligns with the mission and vision of the organization.