网络游戏的现状和投资分析――威瑞数码的进入战略

上海交通大学硕士学位论文网络游戏的现状和投资分析――威瑞数码的进入战略姓名：周蒨申请学位级别：硕士专业：工商管理（MBA）指导教师：徐飞20040111—,CURRENTSTATUSANDINVESTMENTANALYSISOFONLINEGAMESENTRANCESTRATEGYOFWEIRUIDIGITALABSTRACTOnlineGameissomethingnewtoChina.Itshigh-speedgrowthattractsmuchinterestofcapital.WeiRuiDigitalisoneofthosewhoplantostepinto.Theaimofthethesisistodiscusshowanew-establishedcompanypositionsitsentrancestrategy.Firstly,thethesisanalyzesthecurrentpositionofOnlineGameindustry,includingthemaincharacters,latestdevelopmentstatusofdomesticandoverseasmarket,domesticmarketvolumeforecastandthefocusongameR&Dandindustrycluster.Thethesisstatesthattraditionalvaluechaintheorysystemisalsoapplicabletothenewonlinegameindustry.ThevaluechainmodelforonlinegameindustryisestablishedbasedonthepositionandfunctionofR&D,operationanddistributionofonlinegameserviceflowchart.Then,thepaperintroducesthebasicstructureofonlinegamevaluechainfoundedonthefivebasicactivities:productsupgrading,operationalmanagement,marketpromotion,rulemaintenanceandcustomerservice.Subsequently,thepapercomparesandanalyzesthechanceandriskinentrybarrier,policyrisk,industryriskandprofitstructureofentrancefromdifferentpointoftheindustrychain.GameR&Disfundamentalpartofthechainwithhighcorecompetence.Itishighinput,highriskandhighreturn.Gameoperationisthecorepartofthechainandkeyfactorforsuccess.However,itishighlyrelyingontheproducts.Itishighriskandhighreturn.Gamedistributionisnotcloselyconnectedtotheentireindustrychainandcanhardlyprovidevalue-addedservice.Itislowinput,lowriskandlowreturn.Consideringthesmallsize,limitedcapitalandexperienceofmajorteammembersofWeiRuiDigital,thepaperafterwardsreviewsthestrength,weakness,opportunityandthreatofWeiRuiDigitaltostepintotheindustryfromR&D,operationanddistribution.Severalstrategyplansaresuggestedandthemostsuitableoneisselectedrootedinthepositiveandnegativefactorstowardstheplans.Meanwhile,differentiationdevelopmentstrategyisalsoraisedforthefinalselectedplan.Finally,thethesisanalyzesthedetailconductionarrangementoftheentrancestrategy.FacedtothecurrentmonotonousonlinegamemarketinChina,WeiRuiDigitalselectedagamethatisdevelopedindomesticandhasdifferentfeatureofmostofcurrentonlinegames.And,theframeofoperationalscenarioisalsosetdown.Simultaneously,five-yearfinancialforecastispreparedtostatethefeasibilityofselectedproject.KEYWORDS:onlinegames,valuechain,competitiveadvantage,entrancestrategy,differentiationstrategy1200412120031220031212002IT2001920021,800960200320035150ØØØMBA1TCP/IP1-1MBA224242D3D1MBA3234bugMBA4(1)19998,20020044920065630%60%5,0001.142002175200194892002175VectisInternationalTheKoreanElectronicGamesMarket20200217.6MBA519999,0000.2200226.562004409(2)15,000IT100011PCNAMCO600NCSoft20033682.30.8700.45MUWebzen1480.94MBA62001NCSoftWebzen1-2(1)MUDPC(2)19986MBA71998MUD1998200020012000(3)2000IT20019MBA820026051-31506001201501-320013200132001620016200111200212002920031RO20031200342003MBA93MU40-1520029.1IDC200212(1)20036,25620061.251-1FIGURE1-1ForecastofCapacityofChineseInternetUser(Extractedfrom“ChineseOnlineGameIndustryStudy”ofIDC,December2002)4411.82988.56256.48568.310508.712543.519.4%22.6%37.0%41.8%47.6%020004000600080001000012000140002001200220032004200520060.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%50.0%()MBA10(2)200385.291.2200420061-41-2(3)50(1-3)200319.72.4200683.410FIGURE1-1ForecastofCapacityofChineseOnlineGameUser(Extractedfrom“ChineseOnlineGameIndustryStudy”ofIDC,December2002)397.5807.41495.32347.73310.24490.6168.1401.3767.11190.31631.92227.357.0%41.0%35.7%138.7%91.2%55.2%37.1%36.5%85.2%103.1%0.0500.01000.01500.02000.02500.03000.03500.04000.04500.02001200220032004200520060.0%20.0%40.0%60.0%80.0%100.0%120.0%140.0%()()MBA112001200220032004200520063988071,4952,3483,3104,491N/A103%85%57%41%36%1684017671,1901,6312,227N/A139%91%55%37%37%42%50%51%51%51%51%1519212528313.19.119.735.055.483.4N/A194%116%78%58%51%FIGURE1-1ForecastofMarketVolumeofChineseOnlineGame(Extractedfrom“ChineseOnlineGameIndustryStudy”ofIDC,December2002)9.183.455.435.019.73.1187.6%117.6%77.6%58.4%50.5%01020304050607080902001200220032004200520060.0%20.0%40.0%60.0%80.0%100.0%120.0%140.0%160.0%180.0%MBA121192MBA13863ØTCP/IPØØØ123ØØØØ50200680ØMBA14MichaelPorterCompetitiveAdvantageValueChainMBA15FIGURE1-2IndustryChainofOnlineGameServiceNCSoftWebZenVivendi//PCMBA162-1MBA17(ICP)MichaelPorter2-2MBA18FIGURE2-2ValueChainModelofOnlineGame12D3DMUDMUDITITITMBA192RPG12bugMU33PKMBA20122002MBA21MBA2212-16MU18-22MBA237242002115003,000241005008-9ØØØMBA24ØØØØØMBA25IDC4-511,4003503DMBA2621(20022005)17143D1202RPG1.3.150200660MBA273335123D410021-221MBA28ISP20002MBA291505001,000324060MU20-25200310312,500302MBA3015-251MBA311020034MU5,000MU2183MBA32ID3PS2PS2PS2200PS2PS2X-BOXX-BOXQQMBA33452003103147RPG43124RPG15220RPG3100RPG8550,000MU3RO90130MUWebZen50MUWebZenMBA345-1030royaltyfee3042-45%20223MBA35MBA3655.7%Vnet111MBA37230%724360%MBA384525-30%5ØMBA3912121234512MBA40Ø1212121234123123MBA41Ø1234512MBA42.com4-11MBA4323D3MBA44452006-1212350MBA45RPG15-254025430-507-24512MBA46345MBA47RPG6015-25MBA48RPG224-1FIGURE4-1StatisticsforUnsat