Market
INVESTOPEDIA: A market is a medium that allows buyers and sellers of a specific good or service to interact in order to facilitate an exchange.
This type of market may either be a physical marketplace where people come together to exchange goods and services in person, as in a bazaar or shopping center, or a virtual market wherein buyers and sellers do not interact, as in an online market.
Key Concepts of Market
Five orientations philosophical concepts to the marketplace
1. The Production Concept
2. The Product Concept
3. The Selling Concept
4. The Marketing Concept
5. The Societal Marketing Concept
Source: Kotler, Philip. (2000) Marketing Management. Upper Saddle River, New Jersey: Prentice Hall.
Production Concept – Consumers prefer products that are widely available and inexpensive. The production concept is more operations oriented than any other concept.
Product Concept – Consumers favor products that offer the most quality, performance, or innovative features. The product concept believes in the consumer and it says the consumers are more likely to be loyal if they have more options of products or they get more benefits from the product of the company.
Selling Concept – Consumers will buy products only if the company aggressively promotes or sells these products. Off course, in this era of marketing, we know that selling is not the only tactic to sell your product. You have to focus on marketing as well.
Marketing Concept – Focuses on needs/wants of target markets & delivering value better than competitors. The marketing concept believes in the pull strategy and says that you need to make your brand so strong that customers themselves prefer your brand over every other competitor. This can be achieved through marketing.
Societal Marketing Concept – Focuses on needs / wants of target markets & delivering value better than competitors that preserves the consumer’s and society’s well-being.
source for more reading about the click here
Players in the Market (Competitors)
Animation Studios in the Metro Manila (this list may not be totally complete)
Products and Services available in the market
Animated Television Shows and Commercial
Opening Billboards (titles)
Games and Mobiles Apps
Simulation (example: medical, pilot, army...etc.)
Music Video
click the link for more additional reading on the topic
Product Development
ENTREPRENEUR.COM: Definition: The overall process of strategy, organization, concept generation, product and marketing plan creation and evaluation, and commercialization of a new product .
Key concepts of developing a product
Generating ideas
Evaluating and screening product ideas
Protecting your ideas
Finalizing design research and development
Promoting and marketing your product.
Develop A Compelling Value Proposition
Article by Rebecca O. Bagley on Forbes
Developing a clear and compelling value proposition is the first phase of an effective market opportunity assessment. In many ways it is the most important part of the process. After all, how can you sell a product or service if you can’t articulate its value?
So how do you develop a compelling value proposition?
The process consists of three stages:
Identifying customer benefits
Linking these benefits to mechanisms for delivering value
Mapping the basis for differentiation or market play
Innovation
business dictionary.com: The process of translating an idea or invention into a good or service that creates value or for which customers will pay.
Unique Selling Proposition (UPS)
entrepreneur.com Definition: The factor or consideration presented by a seller as the reason that one product or service is different from and better than that of the competition .
Selecting business idea
Article by Brad Sugars for entrepreneur.com
How can you be sure your intriguing idea is also something from which you can truly make a profit?
There are three essential considerations:
Make sure the product or service has a repeat buy
Be certain you have a high profit margin
Build a strong support team because a good idea isn't enough
Branding
entrepreneur.com Simply put, your brand is your promise to your customer. It tells them what they can expect from your products and services, and it differentiates your offering from your competitors'.
An effective brand strategy gives you a major edge in increasingly competitive markets.
the branding journal.com Brand definition:
“A brand is a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers” (American Marketing Association).