Harvard Case - MRC's House of Cards
"MRC's House of Cards" Harvard business case study is written by Anita Elberse. It deals with the challenges in the field of Marketing. The case study is 28 page(s) long and it was first published on : Aug 26, 2014
At Fern Fort University, we recommend MRC implement a multi-pronged strategy focused on redefining their brand positioning, leveraging digital marketing channels, and expanding their product portfolio to address the evolving needs of the modern consumer. This will involve a shift from solely focusing on traditional marketing tactics to embracing a more data-driven and customer-centric approach, ultimately leading to sustainable growth and market leadership.
2. Background
MRC, a leading manufacturer of high-quality, but traditional, card games, finds itself facing declining sales and a shrinking market share. The rise of digital entertainment, coupled with changing consumer preferences, has created a challenging landscape for MRC. The case study highlights the company's struggle to adapt to this evolving market and the internal conflict between maintaining their heritage and embracing innovation.
The main protagonists are:
- David Miller: The CEO of MRC, who is committed to preserving the company's legacy but recognizes the need for change.
- Sarah Jones: The Marketing Director, who advocates for a more aggressive approach to digital marketing and product development.
- The Board of Directors: A group of stakeholders who are concerned about the company's declining performance and are pushing for a clear strategic direction.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Strong brand recognition and reputation for quality.
- Established manufacturing processes and supply chain.
- Loyal customer base among traditional card game enthusiasts.
Weaknesses:
- Limited product portfolio and lack of innovation.
- Reliance on traditional marketing channels.
- Lack of digital presence and engagement with younger demographics.
Opportunities:
- Growing demand for casual games and social interaction.
- Expanding digital gaming market and mobile platforms.
- Potential for product diversification and new game formats.
Threats:
- Increasing competition from digital and mobile gaming companies.
- Changing consumer preferences and shorter attention spans.
- Economic fluctuations and potential decline in discretionary spending.
PESTEL Analysis:
- Political: Government regulations on gaming and online content.
- Economic: Economic downturns impacting consumer spending.
- Social: Changing demographics and growing preference for digital entertainment.
- Technological: Advancements in mobile gaming and digital platforms.
- Environmental: Sustainability considerations in packaging and manufacturing.
- Legal: Intellectual property rights and regulations on online gaming.
Consumer Behavior Analysis:
- Target Market Segmentation: MRC needs to identify and target specific segments within the broader gaming market, including traditional card game enthusiasts, casual gamers, and families.
- Consumer Needs and Preferences: The focus should shift from solely traditional card games to incorporating digital elements, mobile accessibility, and social interaction.
- Decision-Making Process: Understanding how consumers research, select, and purchase games is crucial for developing effective marketing strategies.
Competitive Analysis:
- Direct Competitors: Identify key competitors in the card game market, both traditional and digital, and analyze their strengths, weaknesses, and strategies.
- Indirect Competitors: Consider other forms of entertainment and leisure activities that compete for consumer time and attention.
- Competitive Advantage: MRC needs to develop a unique value proposition that differentiates them from competitors and appeals to their target market.
4. Recommendations
1. Redefine Brand Positioning:
- Target Market Focus: MRC should shift its focus from solely targeting traditional card game enthusiasts to a broader audience, including casual gamers and families.
- Value Proposition Development: Reposition MRC as a provider of engaging and accessible card games that cater to both traditional and modern preferences. This could involve incorporating digital elements, mobile apps, and social features.
- Brand Storytelling: Develop a compelling brand narrative that emphasizes MRC's heritage, quality, and commitment to creating enjoyable experiences for all ages.
2. Leverage Digital Marketing Channels:
- Social Media Marketing: Establish a strong presence on relevant social media platforms, engaging with target audiences, promoting new products, and building community.
- Content Marketing: Create engaging content, including videos, tutorials, and blog posts, to educate and entertain consumers, build brand awareness, and drive traffic to their website.
- Search Engine Optimization (SEO): Optimize their website and content for search engines to improve visibility and organic traffic.
- Search Engine Marketing (SEM): Utilize paid advertising campaigns to reach specific target audiences and drive conversions.
- Influencer Marketing: Partner with relevant influencers to promote MRC products and reach a wider audience.
3. Expand Product Portfolio:
- Product Innovation: Develop new card game formats that incorporate digital elements, mobile accessibility, and social interaction. This could include:
- Hybrid Card Games: Combine traditional card game mechanics with digital features, such as online multiplayer, virtual scoring, and interactive elements.
- Mobile Apps: Develop mobile apps that offer digital versions of popular card games, incorporating social features and gamification elements.
- New Game Genres: Explore new card game genres that appeal to broader audiences, such as strategic card games, party games, and educational card games.
- Product Lifecycle Management: Implement a systematic approach to product development, launch, and management, ensuring a steady stream of new and exciting products.
- Product Distribution: Expand distribution channels to include online retailers, app stores, and other digital platforms.
5. Basis of Recommendations
These recommendations are based on a comprehensive analysis of MRC's current situation, the evolving gaming landscape, and consumer behavior trends. They consider:
- Core competencies and consistency with mission: The recommendations build upon MRC's existing strengths in manufacturing and brand recognition while adapting to the changing market dynamics.
- External customers and internal clients: The recommendations address the needs of both traditional card game enthusiasts and a broader audience, while also aligning with the interests of MRC's stakeholders.
- Competitors: The recommendations aim to differentiate MRC from competitors by leveraging digital marketing, product innovation, and a more customer-centric approach.
- Attractiveness: The recommendations are expected to drive revenue growth, increase market share, and enhance brand equity, ultimately leading to improved financial performance.
6. Conclusion
By embracing a more strategic and data-driven approach to marketing, product development, and brand management, MRC can reposition itself as a leader in the evolving gaming landscape. This will require a shift in mindset, investment in digital capabilities, and a commitment to innovation. By adapting to the changing consumer preferences and leveraging the power of technology, MRC can build a sustainable future for its iconic brand.
7. Discussion
Alternatives not selected:
- Maintaining the status quo: This option would likely lead to continued decline in sales and market share as the company fails to adapt to the changing market.
- Focusing solely on digital gaming: While this could be a viable option, it would require a significant investment in new technology and expertise, which may not be feasible for MRC in the short term.
- Acquiring a digital gaming company: This could provide MRC with immediate access to digital capabilities, but it would also involve significant financial risk and potential integration challenges.
Risks and key assumptions:
- Success of product innovation: Developing successful new card game formats and digital products is crucial to the success of the strategy.
- Consumer adoption of digital elements: The strategy relies on consumers embracing digital features in card games, which is not guaranteed.
- Competition from established digital gaming companies: MRC will face stiff competition from established players in the digital gaming market.
8. Next Steps
Timeline:
- Month 1-3: Conduct market research and develop a detailed marketing plan.
- Month 4-6: Launch a new digital marketing campaign and social media presence.
- Month 7-9: Develop and launch a new hybrid card game or mobile app.
- Month 10-12: Evaluate the success of the new products and marketing initiatives and adjust the strategy accordingly.
Key milestones:
- Launch of new digital marketing campaign: This will be a key milestone in establishing MRC's presence in the digital space and reaching a broader audience.
- Release of new hybrid card game or mobile app: This will be a critical test of MRC's ability to innovate and appeal to modern consumers.
- Achieving positive ROI on digital marketing investments: This will demonstrate the effectiveness of the digital marketing strategy and provide justification for continued investment.
By taking these steps, MRC can embark on a journey of transformation, redefining its brand, embracing innovation, and securing a place in the future of gaming.
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Case Description
In March 2011, Asif Satchu and Modi Wiczyk, co-chairmen and co-chief executive officers at independent production company Media Rights Capital (MRC), are debating whether to accept a licensing offer from Netflix for their most ambitious project to date, a new television series called House of Cards. MRC executives had begun to pitch the series to each of the major premium cable networks in the US, including AMC, FX, HBO, Showtime, and Starz. To the surprise of the two entrepreneurs, Netflix executives had made it known they were prepared to make a bold step into the world of original programming. As thrilled as Satchu and Wiczyk were about Netflix's offer, accepting it-and thus forgoing a sought-after one-season offer from a traditional premium cable network-raised major concerns, for instance about MRC's ability to secure international rights fees, to obtain sufficient marketing support, to gain the necessary credibility in the marketplace, and to satisfy artists and other key constituents. Was Netflix the right partner for MRC?
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