Harvard Case - Gametime
"Gametime" Harvard business case study is written by Robert Chess, Yin Li. It deals with the challenges in the field of Entrepreneurship. The case study is 16 page(s) long and it was first published on : Jun 15, 2014
At Fern Fort University, we recommend Gametime pursue a multi-pronged growth strategy focused on strategic partnerships, strategic acquisitions, and innovative product development to solidify its position as the leading mobile-first platform for last-minute event ticketing. This strategy leverages Gametime?s core competencies in technology, data analytics, and user experience to capitalize on the growing demand for mobile-first experiences in the event ticketing industry.
2. Background
Gametime is a mobile-first platform that allows users to buy last-minute tickets to sporting events, concerts, and other live events. Founded in 2011, the company has experienced rapid growth, attracting a loyal user base through its user-friendly interface, competitive pricing, and focus on providing a seamless mobile experience. However, Gametime faces increasing competition from established players like StubHub and Ticketmaster, as well as new entrants leveraging innovative technologies.
The case study focuses on Gametime?s CEO, Brad Griffith, who is considering various options to accelerate the company?s growth and maintain its competitive advantage.
3. Analysis of the Case Study
Competitive Analysis:
- Porter?s Five Forces:
- Threat of New Entrants: High, due to the low barriers to entry in the digital ticketing space.
- Bargaining Power of Buyers: High, as consumers have numerous options for purchasing tickets.
- Bargaining Power of Suppliers: Low, as Gametime relies on third-party ticket sellers.
- Threat of Substitutes: High, as alternative methods of ticket acquisition exist (e.g., box office, resale markets).
- Competitive Rivalry: High, with established players like StubHub and Ticketmaster, as well as new entrants utilizing innovative technologies.
SWOT Analysis:
Strengths:
- Mobile-first focus: Provides a user-friendly and convenient experience.
- Strong brand recognition: Cultivated a loyal user base through effective marketing.
- Data-driven approach: Utilizes analytics to optimize pricing and user experience.
- Strong leadership: Brad Griffith?s vision and leadership have driven growth.
Weaknesses:
- Limited inventory: Relies on third-party sellers, leading to potential inventory constraints.
- Lack of geographic reach: Primarily focused on the US market, limiting potential growth.
- Dependence on technology: Vulnerability to technological disruptions or security breaches.
Opportunities:
- Expansion into new markets: Targeting international markets with high event attendance.
- Developing new products and services: Offering additional features like event recommendations and social integration.
- Strategic partnerships: Collaborating with event organizers and venues for exclusive access to tickets.
- Leveraging AI and machine learning: Enhancing pricing algorithms and user experience.
Threats:
- Increased competition: New entrants and existing players are constantly innovating.
- Economic downturn: Impact on consumer spending and event attendance.
- Regulatory changes: Potential changes in ticketing regulations could impact business operations.
Value Chain Analysis:
Gametime?s value chain consists of:
- Inbound Logistics: Sourcing tickets from third-party sellers.
- Operations: Managing ticket inventory, processing transactions, and providing customer support.
- Outbound Logistics: Delivering tickets to customers through mobile devices.
- Marketing and Sales: Promoting the platform and attracting new users.
- Customer Service: Providing support and resolving customer issues.
Business Model Innovation:
Gametime?s success is attributed to its innovative business model, which focuses on:
- Mobile-first experience: Providing a seamless and convenient user experience through a mobile app.
- Last-minute ticket sales: Targeting a niche market of users seeking tickets close to the event date.
- Data-driven pricing: Leveraging analytics to optimize ticket prices based on demand and supply.
4. Recommendations
Strategic Partnerships:
- Venue Partnerships: Partner with major sports and entertainment venues to gain exclusive access to ticket inventory and offer exclusive deals to Gametime users.
- Event Organizer Partnerships: Collaborate with event organizers to promote events and offer bundled ticket packages.
- Technology Partnerships: Partner with companies specializing in AI, machine learning, and blockchain technology to enhance platform functionality and security.
Strategic Acquisitions:
- Acquire smaller ticketing platforms: Expand reach and gain access to new markets and customer segments.
- Acquire technology companies: Enhance platform capabilities and develop new features.
Innovative Product Development:
- Develop a loyalty program: Reward frequent users with exclusive benefits and discounts.
- Integrate social media features: Allow users to share their event experiences and connect with other attendees.
- Offer personalized event recommendations: Utilize data analytics to suggest events based on user preferences.
- Develop a ?Gametime Live? feature: Provide real-time event updates, scores, and social media feeds within the app.
5. Basis of Recommendations
These recommendations align with Gametime?s core competencies in technology, data analytics, and user experience, while addressing the competitive landscape and market opportunities.
- Core Competencies and Consistency with Mission: The recommendations focus on leveraging Gametime?s existing strengths in technology and data analytics to enhance its product offerings and expand its reach.
- External Customers and Internal Clients: The recommendations cater to the needs of both external customers (event attendees) and internal clients (event organizers and venues).
- Competitors: The recommendations aim to differentiate Gametime from its competitors by offering a unique value proposition based on innovative features and strategic partnerships.
- Attractiveness: The recommendations are expected to generate significant returns on investment through increased market share, revenue growth, and enhanced customer satisfaction.
6. Conclusion
Gametime is well-positioned to capitalize on the growing demand for mobile-first event ticketing experiences. By pursuing a strategic growth strategy focused on partnerships, acquisitions, and innovative product development, Gametime can solidify its position as the leading platform in the industry.
7. Discussion
Alternatives:
- Organic growth: Focus on expanding into new markets and developing new features without external partnerships or acquisitions.
- Merging with a competitor: Combining resources and market share with a competitor to gain a larger foothold in the market.
Risks and Key Assumptions:
- Competition: The market is highly competitive, and new entrants may disrupt the industry.
- Technology: Rapid technological advancements could render existing platforms obsolete.
- Regulatory changes: Changes in ticketing regulations could impact Gametime?s business model.
Options Grid:
| Option | Advantages | Disadvantages |
|---|---|---|
| Strategic Partnerships | Access to exclusive inventory, increased brand awareness, reduced marketing costs | Dependence on partners, potential conflict of interest |
| Strategic Acquisitions | Rapid expansion, access to new markets and technologies, increased market share | Integration challenges, potential cultural clashes |
| Organic Growth | Control over development, lower risk | Slower growth, limited access to resources |
| Merging with a Competitor | Increased market share, reduced competition | Potential loss of control, integration challenges |
8. Next Steps
- Develop a strategic plan: Define specific goals, timelines, and resource allocation for each recommendation.
- Identify and evaluate potential partners and acquisition targets: Conduct due diligence and negotiate agreements.
- Develop and test new product features: Gather user feedback and iterate on product development.
- Implement marketing and communication strategies: Promote new features and partnerships to existing and potential users.
- Monitor progress and adjust strategies: Track key performance indicators and make necessary adjustments to ensure continued success.
By taking these steps, Gametime can effectively implement its growth strategy and achieve its long-term goals.
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Case Description
The case follows Brad Griffith, the founder of Gametime, a mobile application for purchasing and redeeming event tickets. The case examines how Griffith assesses whether he has found an attractive business opportunity initially, and later whether he has found product/market fit. It also describes Griffith's decision to be a solo founder and how he leverages contractors and advisors in building the product.
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