Sse Vw Pestel Group4
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Sse Vw Pestel Group4

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Media Mangement Assignment (KTH&SSE)

Media Mangement Assignment (KTH&SSE)

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Sse Vw Pestel Group4 Sse Vw Pestel Group4 Presentation Transcript

  • PESTLE Analysis on Virtual World Economic Group 4 Group 4 Zhang Yuanyuan : 70381@student.hhs.se Zhong Wei :70382@student.hhs.se Chi Mingli :70365@student.hhs.se Guo Xing :70368@student.hhs.se
  • Economic Factors
  • Global Economic Crisis
    • Companies such as Gaia interactive and Habbo are expecting a boost as consumers reduce spending on real-world goods and luxuries and console themselves with so-called virtual goods—digital copies of products that can cost just pennies, allowing users to indulge their materialistic fantasies without spending much.
    • “ As the ‘real world’ gests worse, virtual worlds get better,”
    • --Gaia Chief Executive Craig Sherman
    • Potential Impact: Medium
  • Marketplace
    • The release of Blizzards’ World of Warcraft in 2004 and its subsequent huge success across the globe has forced both MMORPG and their secondary markets into mainstream consciousness, and many new market places have opened up during this time.
    • Hundreds of companies are enormously successful in this new found market, with some virtual items being sold for hundreds or even thousands of dollars.
    • Although virtual markets may represent a growth area, it is unclear to what extent they can scale to supporting large numbers of businesses, due to the inherent substitutability of goods on these markets plus the lack of factors such as location to dispense demand.
    • Potential Impact: High
  • Taxation
    • Income from sale of virtual items is being considered as real revenue as players in such games have ascribed a real-world value onto them: "By taking any aspect of the game and connecting it directly to the real world, the games have only brought this possibility on themselves." And as that ascribed value is being increasingly converted into to real dollars, attention is now being given by those in taxation law and in governments.
    • Potential Impact: High
  • Virtual Crime
    • Monetary issues can give a virtual world problems similar to those in the real world
    • South Korea: gangs and mafia in games threatened beginners to give money for their “protection”.
    • The Sims Online: a 17-year boy opened a cyber-brothel to provide cybersex services that paid by sim-money.
    • Potential Impact: High
  • Stability
    • For a persistent world to maintain a stable economy, a balance must be struck between currency sources and sinks.
    • Actions by players can destabilize the economy.
    • Potential Impact: High
  • Ownership
    • In most games players do not "own", materially or intellectually, any part of the game world, and merely pay to use it (one exception being Second life ). Because this "virtual property" is actually owned by the game developer, a developer who opposed real commerce of in-game currencies would have the right to destroy virtual goods as soon as they were listed on eBay or otherwise offered for real trade. However, such a decision would be controversial with game participants.
    • Potential Impact: High
  • References
    • Virtual economy, From Wikipedia, the free encyclopedia
    • A 'Virtual' Escape From Economic Pain, Mary Jane Irwin
    • Second life economic statistics, https://secure-web8.secondlife.com/whatis/economy_stats.php
    • Real money in a virtual world, http://news.cnet.com/Real-money-in-a-virtual-world/2030-1069_3-5905390.html
    • PEST/PESTLE Analysis Tool and Template, http://www.rapidbi.com/created/the-PESTLE-analysis-tool.html
  • Thank You! Group 4 2008.1.27