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OCULUS RIFT

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by

Natalie Pemberton

on 6 October 2014

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Transcript of OCULUS RIFT

VIABLE PRODUCT?
Desirability & Demand
Using PEST analysis we can;
Assess relevant environment surrounding the Oculus Rift
Assess decision-making and the Oculus Rift's potential and development

The two major factors using PEST;
Technological
Social
What is the Oculus Rift?

Virtual reality head-mounted system

Makes portable virtual reality - a reality

Developed by Oculus VR (vitual reality) a Californian based technology company

Launched its prototype in 2012 through a Kickstarter campaign that raised over $2.4mil to create an immersive gaming experience

Purchased by Facebook in 2014 for over $2bil

Developing a broader consumer product to revolutionize the way interactive content is viewed
Diffusion of Innovation?
Oculus Rift Developers Kit 2 - not yet a consumer product

Innovation stage
Technological
Boom in advancement of technology

Ability to mimic experiences which create opportunities to practice and learn

Educational purposes

Creating value through technological advancements into an untapped dimension, allowing greater possibilities for the consumer
WE THINK SO!
Organisational Feasibility
The current team at Oculus Rift consists over 50 employees in the Californian head office.


OCULUS RIFT
Diffusion of Innovation?
'Intrepid developers are receiving Oculus Rift Dev Kit 2, ..But it's still meant for early adopters and is not yet a consumer product.'
-Matt Swider, TechRadar
A Viable Project?
Success dependent on the way Oculus Rift is marketed

The next geek gamer toy?
Or widespread consumer product - the next product you didn't know you needed

Potential to create a new market
Social
Potential to pioneer a new market and create a need we did not yet know we had

Value to entertainment industry

Gaming, movies, virtual tourism, education, treatment of psychological disorders

Increased efficiency of functions within everyday life
Target Market Attractiveness
Current state of marketing
Porter's 5 Forces
SWOT Analysis
Resource Sufficiency
Financial Feasibility
We have identified 3 key market segments;

Gaming community

Entertainment industry

Educational Institutions

Currently solely targeted towards gamers and developers

Main strategy online marketing and conventions such as comic con

Limits exposure to current enthusiasts

Broader consumer product proposed launch 2015

Vast resources now available from Facebook buyout
Over $2.4million raised on Kickstarter to develop product - indicative of a strong interest for initial sales
Facebook buyout - means backed by one of the world's technology giants
The nature of product and outsourced software predicts a low percentage of recurring income - a challenge to overcome to provide sustainable sales and revenue
Strengths
Compatibility greater than emerging competitors
Affordable for the technology
Quality
Weaknesses
Slim target market & enthusiasts
Outsourcing software reduces potential revenue
Commercial product marketing
Opportunities
Potential for expansion into educational, medicinal, virtual tourism markets
No commercial products on the market
Threats
Already seeing competing products developed
Negative associations around the widespread use of virtual reality
Full transcript