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The first figure shows sales of game consoles in the recent years. The second figure displays overall growth in all segments of games market. While the first figure shows overall decrease of the game console market, the forecast in the second figure expect a reversal of this trend as the game console market is expected to grow, even though losing market share to the fast growing segments of smartphone and tablet games. (Note 1: the console sales are proportional to the sales of the console games). (Note 2: The figures above are far from paining the whole picture. Feel free to research the topic further and provide more comprehensive outlook). Q1. How would you categorize the video game consoles market dominated by a small number of large brands? (15 Marks) Q2. Identify significant changes in the sales of video game consoles over the period shown by the data. (15 Marks) Q3. With the help of the information in the text and the second figure, explain how the growth in the sales of smartphone games may affect the market for game consoles. Explain in economic terms and draw a supply and demand diagram for this situation. (30 Marks) Q4. a) Explain why prices in such market structures tend to be very stable and there is less tendency of price wars in such markets? (10 Marks) b) Explain, why forming a cartel (moral and legal issues aside) would probably not be an effective strategy for the main game console producers in the future. Use the data provided in the figures and draw a supply and demand diagrams for this situation. (30 Marks) Further Notes You should make intensive use of the course text AND journal articles, case studies, and peer-reviewed academic source materials. This is a research project. Use exhibits and appendices to provide succinct, relevant and clear information. Focus on the important issues and the holistic framework rather than minor detail. Assessment Criteria The value of your work will be ultimately assessed on its practical usefulness and relevance to the business, and the demonstration of good understanding of relevant theories. The specific assessment criteria are: Demonstrated identification, evaluation and interpretation of appropriate techniques Ability to analyse a range of complex scenarios and data for decision making Ability to determine and evaluate appropriate planning methods and techniques Evidence of relevant background research, supported by examples, citation and a bibliography in Harvard format Introduction and conclusion in each question have 25% of the total mark each. The other 50% is considered for the main body. Guidelines Please read all questions and information provided carefully. Your assignment should demonstrate the following qualities: A good appreciation of relevant literature and its use to support argument, substantiate calculations and other aspects of the assignment. A submission made up of extracts from published sources that is descriptive or simply just theoretical regurgitation is not acceptable. Your submission must have interpretation and consideration of the challenges and issues of taking theory into practice. Logical flow of ideas and treatment; appropriate selection of real world factors related to the companies under scrutiny. Evidence of additional personal research, and the ability to analyse material from a variety of appropriate relevant perspectives. Presentation, structure, appropriateness of methodology, breaking into section headings/subheadings, tidiness. Marks will be awarded for proper referencing and originality of work. Also note that plagiarism is a serious offence and your submission will be electronically checked. No less them 10 references. I have uploaded the file with the graphics as there are very important.