BUS105 Marketing Report: Oculus Rift - Innovation and Life Cycle

This report provides a comprehensive marketing analysis of Oculus Rift, a virtual reality product by Oculus VR. It delves into the company's market segmentation, focusing on the 20-30 age group, particularly male gamers, highlighting the demographic segmentation in place. The report further examines the macro environment factors impacting Oculus Rift, including political, economic, social, technological, legal, and environmental aspects. The pricing strategy, particularly the use of psychological pricing, is also analyzed, along with the product's life cycle stage, which is currently in the growth phase. The report concludes that Oculus Rift is successfully offering new gaming experiences and has the potential for broader applications beyond gaming, such as education and healthcare. The references from the report are from the textbook 'Communication Skills Handbook' by Summers, J. and Smith, B., 2014.