Entrepreneurship and Innovation
Overview of Astro Gaming Astro Gaming, founded in 2006 in San Francisco, California, is an online video game equipment store that prides itself on its world class gaming equipment as well as award winning headsets, including the Gaming A40 Audio System which is the official headset of the MLG Pro Circuit. Products included are wireless systems, audio systems, head sets, mix amps, gear bags, accessories.
Detailed Description of the Product
“ASTRO Gaming's mission is to produce the world's finest gaming equipment. Our products include an award winning line of headsets including the A40, the A30 and the A*Stars, our newest in-ear headsets. Each of our headsets can be paired with our proprietary MixAmp or newly introduced 5.8GHz wireless MixAmp 5.8. The Astro Gaming A40 Audio System is the official headset of the MLG Pro Circuit. It is time to get rid of that old pair of headphones and upgrade to an Astro Audio System. ASTRO Gaming is a premium accessory manufacturer with a risk-free trial for all of our products, and unparalleled customer service.” We believe Astro Gaming is and will continue to be a successful venture through the upcoming years. As seen in the mission statement, Astro Gaming’s focus is to produce the best and newest quality product to the very serious videogame player. Customers can enjoy customized products, convenient delivery as well as the added bonus that this product is the official headset of the MLG Pro Circuit. When looking at the opportunity assessment models of this company, it will become clear to any investor and customer that Astro Gaming will flourish in this booming video game market.
Astro Gaming was formed after Astro Studios, a high performance design firm, saw the growth of the video game industry. Astro Gaming strives to set itself apart from its competition which can be seen clearly through their mission statement. When looking at the amount of video game jargon in the mission statement, it can be seen that their target audience is the video game player who truly invests their time into the hobby and wants the best product available.
Analysis of Astro Gaming The Opportunity Checklist on page 105 of Entrepreneurship (Bygrave & Zacharakis) shows clearly why this venture is and will continue to be successful. Astro Gaming would fall under “video game equipment” however the more important market to consider is the video game industry in general. By looking at the video game market and assessing if it is growing, it will be possible to determine that Astro Gaming would continue to grow. The opportunity checklist lists Market Size, Market Growth, and Trends, as important factors to consider when assessing an opportunity. The video game boom first became popular in the early 1980’s and has grown steadily ever since. Even in a less than thriving economy video games are on the rise. This is due to a number of factors. The first video game users never abandoned their love for gaming, and are continuing to buy products into their 40’s, 50’s etc. Each following generations of teens also found interest in these games so the market was not only keeping existing customers, but also adding new ones. Beyond this, video game systems such as the Wii are attracting more females with games focused on dance, shopping and fitness. Online gaming has exploded over the past few years, adding a whole new group of customers who are looking for quality products. The revenue outlook for the industry is expected to steadily grow at an average annual rate of 8% through 2017. Video games create a 40 billion dollar year industry and accessories account for 7.8% of this market. That means that the video game accessories is a 2.8 billion dollar industry and it is on the rise. This means that the trends for the market are still emerging, the market size is already respectable and it is growing. So the market is growing but is