Market Plan - Monopoly Board Games

Market Plan - Monopoly Board Games

4. Tactical Plans

           After completing the situational analysis and the market analysis, the North American Region remained the ideal location for the monopoly board game. The company, Ethico Monopoly Board Game (EMBG) fancies the development of ethical standards and behavior in society. Ethico Monopoly is a new entity in the market and seeks to gain relevance by adding value to the already existing monopoly board games. After conducting thorough market research on the North American market, the company identified the absence of ethical lessons in the monopoly games and seeks to fill it. Additionally, further research indicates that schools and parents teach children about ethics and morality but fail in various instances. In that regard, the key objective of the company is to ensure that ethical lessons are prioritized in the monopoly games developed. The games, as previously highlighted in the third chapter, shall target younger generations from the age of 5 to 12 years and teens from 13 to 19 years. 

4.1 Product

           Similar to the monopoly board games in existence, EMBG shall not only provide entertainment to players, but also build on enhancing their critical thinking abilities, decision-making skills, basic money management skills, and their mathematical skills. Since children are the primary target, EMBG shall also enhance family bonds as it provides the perfect opportunity for parents to play and interact with children at their level. Additionally, it gives them the chance to nurture their children by explaining to them more about morality and society’s expectation of their moral obligations. Children, through this game, will also develop cognitive skills and efficient negotiation skills. 

           What makes EMBG different from many other monopoly board games, on the other hand, is the fact that it integrates ethical lessons into its influences on the younger generation. Ethics, in this case, entails the ability to judge properly by distinguishing what is right and what is wrong. Given that ethics is a heated topic in the news from various settings including politics, medicine, and academics, among many others, it is imperative to have it addressed. The best way to achieve this for the next generation is to address to create a culture in the young generation that fosters its growth and posterity. This game provides children with the ability to not only learn about ethics as they grow but to also challenge their understanding of ethics by tackling moral dilemmas regularly. 

           EMBG, as a brand, is unique and stands out not for its introduction of the junior monopoly board game, but for its value addition to the existing monopoly board games. Also, the value addition is not one time plan but a gradual transition into the future of innovations. In the future, the EMBG research team shall delve into identifying more gaps to fill in the market and new approaches to be integrated. Additionally, EMBG has plans of adapting the product in foreign markets to suit their cultures from their perception of ethics and morality, and specifically, from the context of modern civilization. For now, the company will maintain its position in the existing market and focus on reaching the targeted audience to increase brand awareness. 

           EMBG is a value-based product. Consequentially, the production focuses on the manufacture of quality, durable, portable, and original chits, tiles, counters, chips, dice, cards, pawns, standees, and miniatures. Additionally, its integration into the online market comes with the obligation of creation, development, and maintenance of apps compatible with multiple including mobile phones, personal computers, and tablets, among others. At the moment, however, the company shall not be pursuing new products until a stable client base is established.       

4.2 Price

           Price decisions of the company are affected by an array of factors. The cost of production, shipping, art and development, marketing, royalties, and the supply chain are all-inclusive in the pricing strategy analysis. The estimated cost of the sale of each unit is $50. The price is competitive compared to other companies in the industry available on Kickstarter, Amazon, and other local stores for games. The company, for the time being, is not entirely profit-oriented but geared towards brand creation, and brand awareness. Shortly, when demand rises and more units are required, price sensitivities shall be assessed (Faisal & Khan, 2021). After the assessment, it would be


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