The Video Game Console Market Offers Important Lessons for the Strategist

question 57

Multiple Choice

The video game console market offers important lessons for the strategist. The video game console market is a network market in which Sony's PlayStation 2 (PS2) dominated over Microsoft's Xbox offering. This has been possible due to:

• A) the low pricing of Xbox which eroded users' confidence in the product.
• B) game developers favoring PS2 for its larger user base obtained because the PS2 was launched months before the Xbox.
• C) the presence of several cheap, rival imitations which ate into Xbox's market share.
• D) PS2's technical superiority over the Xbox.
• E) the straddling strategy adopted by Microsoft to expand in both video game and DVD player markets.

Understand the concept of interactions as defined by Erving Goffman, including expressions given and expressions given off, and the process of impression management.

Comprehend the process and significance of resocialization, along with examples of circumstances requiring it.

Explain the concept of the looking-glass self as proposed by Charles Cooley and its applicability to personal status.

Analyze the impact of new technology on the role and significance of the four major agents of socialization.

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Definitions:

Exchange Rates

The rate at which one currency can be exchanged for another, affecting international trade and finance.

Estonian Kroon

The former currency of Estonia, which was replaced by the euro in 2011.

Interest Rate Parity

A financial theory stating the relationship between interest rates and the exchange rate between two currencies.

Japanese Yen

The Japanese Yen is the official currency of Japan, widely recognized and used in international finance as a major reserve currency.