How much is too much for the new Playstation 3? It is apparent that video gaming's popularity is growing exponentially, but is the demand of these gaming machines just getting out of hand. Should policies be put in place for these gaming manufacturers to avoid these bidding wars?
Implications - The game console does have a fairly high price already, but some are paying a much higher price on Ebay. Recently, a user bid $15,100 just for a PS3. This particular auction created a heated bidding war that started off at $10,000 and found its way to the stated purchasing price. What's even more interesting is that this was before the console was released in the UK.
The $15,000 Sony Playstation 3
1. Scalping of Products - Opportunities exist for disruptive innovations that can prevent scalping of products in demand, like gaming consoles.
2. Price Wars - There is a trend towards price wars in gaming console industry which creates opportunities for innovative pricing strategies.
3. Increased Popularity of Video Gaming - The increased popularity of video gaming highlights opportunities for businesses to capitalize on the growth in the gaming industry.
1. Gaming Console Manufacturing - Gaming console manufacturers could explore innovative pricing strategies that prevent scalping of their products by sellers on online marketplaces.
2. E-commerce Retailers - There is an opportunity for e-commerce retailers to develop strategies that help prevent scalping of popular in-demand products like gaming consoles.
3. Technology Retailers - Technology retailers can take advantage of the growth in popularity of video gaming by offering innovative gaming products and accessories.