1 Project A – ELO Limited Student’s Name Institution of Affiliation Class Professor’s Name Date 2 Project A – ELO Limited Introduction ELO company limited company specializes in the development and selling of a lowlatency video game controller for mobile gamers. The name of the controller is ELO Vagabond which is designed to enhance the gaming experience by minimizing latency and providing a more responsive experience for mobile gamers. The key customers for the company are mobile gamers and gaming enthusiasts. The following project's key aim is to perform a research analysis of the ELO limited company, develop alternatives and recommendations, and an implementation plan to ensure the company meets its main goals and overcomes the challenges in the next five years. Problem Statement To succeed in the highly competitive mobile gaming industry. Within the next five years, ELO limited needs to develop a strong brand base by delivering high-performing video game controllers, attracting and retaining competitive and talented employees, manage its accounts efficiently. Stay updated with the latest gaming technology and innovation to ensure that it maintains its competitiveness and profitability. The company should focus on meeting the high expectations of mobile gamers by ensuring the high performance of the ELO Vagabond Research Analysis The research analysis of the ELO Limited company will involve conducting a systematic investigation and collecting information from a variety of sources that impact the success and competitiveness of the company such as the target market, customers, competitors, and technology. To conduct the analysis, SWOT and PESTLE analysis will be used. 3 a. SWOT Analysis SWOT analysis framework will help evaluate ELO company strengths, weaknesses, opportunities, and threats. Below is the SWOT analysis of ELO company limited. i. Strengths ELO company focuses on producing low-latency video controllers which is an innovative and unique product in the mobile gaming industry hence most mobile gamers would prefer purchasing their products for an enhanced gaming experience. ELO company has enhanced gaming technology due to its concentration on low-latency technology to meet mobile gamers' expectations and needs. The company provides a more responsive gameplay product which is most preferred by mobile gamers and gaming enthusiasts who are the main customers of the company. ii. Weaknesses The gaming industry has a highly competitive market, the company expects to face a challenge with the establishment of its brand and gaining a large market share in the competitive industry. The company only focuses on the development and selling of low latency video game controllers for mobile gamers, this possess a challenge for the company due to the lack of products diversification to meet the various and different needs of mobile gamers since there are various gaming preferences, trends, and technologies in the gaming industry. The company has potential challenges in identifying and retaining talented employees which have a significant impact on the growth of the company to maintain and enhance its competitive advantage and performance. 4 The company faces the potential challenge of keeping up with the latest technology trends to ensure that its gaming products remain relevant and competitive. iii. Opportunities With the growth in the number of mobiles, mobile gamers, and gaming enthusiasts, there is also a growing demand for gaming accessories and mobile gaming. There are opportunities for partnership with other mobile industry key players and key stakeholders to enhance the performance and competitive advantage of the company and establish strong brand recognition. Ability to penetrate new markets both locally and internationally through various entry modes and distribution channels. iv. Threats Competition from other established gaming companies and new entrants. Potential regulations regarding the gaming industry or gaming products in various markets. Rapid advancement in technology in the mobile gaming industry. The rapid change in consumer preferences might impact the controller's relevancy and competitiveness. b. ELO Company PESTLE Analysis The PESTLE analysis framework will aid in analyzing the external factors that will impact ELO company. Below is the PESTLE analysis of ELO company. i. Political Factors Different regulations in the mobile gaming market will affect the company. 5 Trade policies that might affect entry into new market policies, export, and importing of gaming accessories. ii. Economic Factors Changes in currency exchange rates will affect the sales of gaming accessories in the international market. Fluctuations and changes in gaming customers' preferences. Social Factors Change in behavior and customers' preferences towards the mobile gaming industry. Demographic shifts such as new generations and the aging population in the gaming market. Technological Factors New technology advancements that affect the gaming industry such as augmented and virtual reality. Rapid advancement in technology trends in mobile gaming devices. Legal Factors Consumer protection laws affect the type of products that should be sold and marketing strategies. Intellectual property laws have an impact on the advertising of gaming accessories. Environmental Factors Climate changes might affect the availability and cost of raw materials that are used in manufacturing gaming hardware. 6 Sustainability concerns that affect the production and disposal of gaming accessories. Alternative and Recommendations The following section will involve the various solutions and options and recommendations for ELO company to its potential challenges in the next five years. The company has potential challenges in establishing its brand recognition and gaining a market share in the competitive mobile industry, the company also has potential challenges in ensuring that its controller performance meets the expectations of mobile gamers. The company also faces challenges in identifying and retaining talented employees, managing its expenses and scaling the business to meet demands without affecting the company's profitability, and lastly keeping up with the latest technology trends in the current mobile gaming industry to ensure that its gaming controller remains relevant and competitive. For the ELO company to establish strong market recognition, the company should focus on investing in advertising and marketing campaigns with messages that are designed to attract its potential customers and attract current customers. The company can offer promotions and incentives for any referrals or new customers. Additionally, ELO limited can consider partnering with primary influencers such as celebrities to enhance their credibility. The company can also partner with major gaming media to enhance its brand visibility. The solution will help the company overcome the brand recognition problems and gain a larger market share in the completive gaming industry. Since the company faces a major challenge in ensuring that it meets the higher expectations of mobile gamers by enhancing its controller performance, the company should collaborate with significant game developers who help in the optimization of their controllers' 7 performance and ensure that it is compatible with a majority of mobile games. ELO limited should also enhance its customer support and ensure that it is available 24/7 to enhance customer satisfaction and gather customer feedback to improve controller design and performance. To identify and retain competitive employees, ELO limited should ensure that its human resource offers competitive salaries and benefits to its employees. The option will attract more top talented employees in seeking a job in the company and retaining the current employees. The company should also ensure its employees' work-life balance by giving off days and holidays which will create a strong sense of belonging and culture. The human resource department should also ensure opportunities for training and professional development of employees. The strategy will ensure that the company attracts and retains top talent and enhance employee motivation which will improve the company's productivity and competitiveness. Additionally, for the ELO limited company not to sacrifice its profitability and to manage expenses, the company should ensure that it utilizes an efficient and cost-effective gaming accessories production process. The company should also ensure cost-effective management of its flow of goods, finances, and data from the procurement of raw materials to the delivery of mobile gaming products to their final market. The company should consider the exploration of new revenue streams to diversify its revenue sources. ELO limited should also focus on investing in technology to keep up with the latest trends and increase productivity. For example, the company can invest in automation to handle repetitive processes. Recommendations It is recommended for ELO limited to diversify its product portfolio by developing gaming controller complementary products such as headphones, chargers, earphones, gaming 8 chairs, and cases to meet the needs of various mobile gamers. The company should also strive to enter new markets through partnerships to enhance its reach and establish a wider brand recognition resulting in increased profitability. It is recommended that ELO limited utilize new advertising strategies that will allow the company to directly engage with its target consumers and drive sales. The company should use celebrities for its adverts. Additionally, it is recommended for ELO limited to invest in R&D (Research and Development). It will help the company stay up to date with the current technological trends and innovation. The company will also keep up with the changing customer preferences allowing the company to remain competitive. The company should also monitor changes in its external market through PESTLE analysis to understand the factors that affect the gaming industry such as government and legal policies. Lastly, it is recommended for ELO limited to foster an organizational culture that promotes inclusiveness, collaboration, diversity, and development among its workforce. It will also help attract top talents to the company. Implementation Plan The objective of the implementation plan is to the various alternatives and recommendations for ELO limited company to enhance its profitability and competitive advantage by keeping up with the latest trends. Firstly, ELO limited should ensure that it has reliable suppliers to help in the production of the controllers. The company should also conduct market research to identify complimentary products to sell with the gaming controllers to meet mobile gamers' different preferences. Secondly, ELO company should ensure effective budgeting in sourcing its products, development, manufacturing, and advertising. The company should establish a partnership with 9 local and international companies and distribution channels in its target markets. Lastly, the company should have a well-developed marketing and sale platform to reach and engage with its customers. For example, collaborating with game developers and launching marketing campaigns to its target market. The company will need various resources such as a talented workforce, influencers, partners, and an advertising budget. Conclusion Through the implementation plan, ELO limited company will be able to implement the various alternatives and recommendations to meet its goal of establishing a strong brand, enhancing the controller performance, attracting and retaining top talent, managing expenses, and keeping up with the new technological trends.