...purpose of marketing product is known as the Marketing Mix. For this paper, we will be creating a marketing mix and describing how they apply to a specific product. Introduction Marketing strategies determine a product’s future sells and success. In this paper we will identify a tangible product of my choice and explain why this product was chosen. Then we will explain the characteristics of each element of marketing as it applies to this product. The four p’s of marketing are product, pricing, place, and promotion. With this being stated, we will lastly discuss why each of the 4-P decisions would be important when marketing this selected product. Tangible Product The Sony PlayStation is one of the most popular entertainment systems on the market. Sony markets this product to teenagers as well as adults. Its competitor which is the Microsoft Xbox usually releases their product around the same time with every newly introduced product. The two entertainment systems often use similar marketing techniques and both sold in the same department. Sony produces many electronic systems and is well known for supplying consumers with acceptable products. I specifically chose the PlayStation system because I am a consumer of this product, and the company does a great job on promoting, distributing, pricing and designing new products. Product As we know, product marketing includes the product’s design, branding, packaging, guarantees, and other considerations. Sony PlayStation offers...
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...2015 Intro Sony’s PlayStation TV is about to be launched to the public for the first time. Our team will be presenting a description of Sony’s new product and explain the features that will change your PlayStation experience. We will also discuss Sony’s marketing strategy and how they will change in the near future as the launch progresses. Then we will unveil the packaging and how it will impact the products value as well as Sony’s pricing strategy and how they priced the product for launch. Finally we will review the channels of distribution and why Sony chose these partners to distribute their new product. PlayStation TV is about to change your PlayStation Vita, PSP, and PS4 experience so get ready! Product Description The PlayStation TV has many features available to the avid gamer. The most sought after feature is the streaming service and the remote play. Many however, do not know what remote play is. Remote Play is a feature that lets the PlayStation TV operate a PS4 system via a wired or wireless connection (Sony PlayStation, 2014). This gives the player the ability to play most PS4 games away from the PS4 system on their PlayStation TV in another room in their household (Sony PlayStation, 2014). The PS4 system can connect to the PlayStation TV in a two different ways. The PS4 system Link app on the PlayStation TV will pick the connection method best suited to your current situation (Sony PlayStation, 2014). Using the PlayStation 4 console as a wireless...
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...A Case Study With Sony On Penetration Pricing As Global Pricing Strategy Meaning of Penetration Pricing This is a marketing strategy used by firms to attract customers to a new product or service. Penetration pricing is the practice of offering a low price for a new product or service during its initial offering in order to attract customers away from competitors. The reasoning behind this marketing strategy is that customers will buy and become aware of the new product due to its lower price in the marketplace relative to rivals. It can often increase both market share and sales volume. Additionally, the high sales volume can also lead to lower production costs and higher inventory turnover, both of which are positive for any firm with fixed overhead. The tagline “special introductory offer” is the classic sign of penetration pricing. The aim of penetration pricing is usually to increase market share of a product, providing the opportunity to increase price once this objective has been achieved. Penetration pricing is, therefore, the pricing technique of setting a relatively low initial entry price, usually lower than the intended established price, sometimes lower than the costs too, to attract new customers. The strategy aims to encourage customers to switch to the new product because of the lower price. Penetration pricing is most commonly associated with a marketing objective of increasing market share or sales volume. In the short term, penetration pricing is likely...
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...An Analysis of the PlayStation Network Joe Student Date Business 508 Professor An Analysis of the PlayStation Network Sony Corporation is a well diversified company providing many complementary products and services. Not only does Sony offer electronics through its own website, it has a series of online products and services it offers to its users. The PlayStation Network, a part of the Sony Entertainment Network, is one of these many services. Through the PlayStation Network, owners of Sony PlayStation products can play games online with each other. Users can also purchase games and additional items through the PlayStation Network. Credit card information is stored in the network to be used for future purchases. Storing credit card information allows users to make future purchases very quickly, and possibly increases sales. However, its users entrust Sony to handle this information with care. In April 2011, the Sony PlayStation Network had a series of security breaches that not only compromised users’ login, password, and personal information, but also their financial information such as credit card numbers. The Sony PlayStation Network had to shut down completely and did not return fully for over a month. This paper will discuss the PlayStation Network and the recent security breaches. Despite the fact that the PlayStation Network has over 77 million online users, the system was compromised and Sony was unable to respond adequately to the problem. All companies...
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...A Case Study With Sony On Penetration Pricing As Global Pricing Strategy Meaning of Penetration Pricing This is a marketing strategy used by firms to attract customers to a new product or service. Penetration pricing is the practice of offering a low price for a new product or service during its initial offering in order to attract customers away from competitors. The reasoning behind this marketing strategy is that customers will buy and become aware of the new product due to its lower price in the marketplace relative to rivals. It can often increase both market share and sales volume. Additionally, the high sales volume can also lead to lower production costs and higher inventory turnover, both of which are positive for any firm with fixed overhead. The tagline “special introductory offer” is the classic sign of penetration pricing. The aim of penetration pricing is usually to increase market share of a product, providing the opportunity to increase price once this objective has been achieved. Penetration pricing is, therefore, the pricing technique of setting a relatively low initial entry price, usually lower than the intended established price, sometimes lower than the costs too, to attract new customers. The strategy aims to encourage customers to switch to the new product because of the lower price. Penetration pricing is most commonly associated with a marketing objective of increasing market share or sales volume. In the short term, penetration pricing is likely...
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...PLC Case Study: Sony Computer Entertaiment Inc. Nestor Herrera October 30, 2015 Sony Computer Entertainment Inc., is a multinational company that serves as a subsidary of Sony Corporation, with main head quarters in North America. Sony is responsible of delivering some of the most innovative and best selling products in the electronics market. For this case study, the main focus will be on one of Sony´s most successful brand, the Playstation, and how the company have manage the product life cycle of its Playstation products, putting an emphasis on the PLC of its first product, the Playstation 1. The case study will also evaluate the effectiveness of the strategies used to mantain the Playstation brand among the leaders of the market share by effectively managing their PLCs. The Playstation 1 - the Introduction process The irruption of Sony into what was then a very primitive video game market came in 1995 when they relased the Playstation 1 (PS1) in North America. The PS1 definatly had a huge impact in the whole video game industy as it was one the pioneers that helped the industry become what is now a multi-billion dolar industry that dominates modern entertaimet. Sony manage to differiante its new console from Nintendo, (who by far were dominaning the market at that time) who marketed themself as a more family-friendly entertaiment console. Nintendo has always provided Sony with some fierce competition, from the PS1's introduction untill the more recent years (2013-)...
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...PROFILE Sony Computer Entertainment, Inc. (SCEI) is a video game company head quartered in Tokyo, Japan and a wholly owned subsidiary of Sony Corporation. SCEI handles production, development, marketing and sales of both hardware and software for its Sony PlayStation line of video game system products and services. Sony computer Entertainment Inc. also has subsidiaries in North America, Asia (Japan, Korea, and China) and in Europe. Gaming industry has been gaining momentum with the gaming market more open now than ever since the boom of the gaming industry in late 80s and 90s and technological advancements today enabled SCEI to make use of its vast resources to innovate its gaming products and services. For the past decade SCEI has been excellent in terms of innovative and cutting edge technological advancements in making home consoles reflecting the company’s most recent mission statement. "We make advanced hardware that enables the most talented developers to produce vanguard titles and set new standards in interactive entertainment. Our goal is to make a family of products that completely changes the definition of home entertainment. It doesn’t matter if you’re a hard-core gamer whose thumb calluses can deflect machine gun fire or if you just love Blu-ray movies, PlayStation® entertainment products have something for you.” Sony PlayStation line of products include PlayStation (PSOne), PlayStation 2 (PS2), PlayStation 3 (PS3), PlayStation Portable (PSP), PlayStation Vita (PSVita)...
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...Marketing Plan: Sony Playstation 3 Brian Moats A marketing plan focusing on Sony’s Playstation 3. Introduction to Marketing Business 120 4/13/2008 Executive Summary This marketing plan is looking at Sony’s Playstation 3 (PS3). This powerful piece of hardware is the cutting edge of gaming entertainment. The PS3 has been out for a little over a year, and in that time, it has proved to be a hardcore gamers dream. Sony got into the console gaming market in late 1994. The concept for the original Playstation (it was under a different name, SNES CD) was actually brought up in a joint partnership with Sony and Nintendo in the late 80’s; however, when the time came to announce their new hardware, Nintendo re-read over their earlier contract and found the agreement to no longer be satisfactory. As a result, Sony took all the research they had done and began work on the Sony Playstation. 2 Table of Contents Situation Analysis .......................................................................................................................................... 4 Internal Environment ................................................................................................................................ 4 Key Executives ....................................................................................................................................... 4 Board of Directors ........................................................................................
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...I n t r o d u c t i o n t o M a r k e t i n g B u s i n e s s 1 2 0 4 / 1 3 / 2 0 0 8 A marketing plan focusing on Sony’s Playstation 3. Marketing Plan: Sony Playstation 3 2 Executive Summary This marketing plan is looking at Sony’s Playstation 3 (PS3). This powerful piece of hardware is the cutting edge of gaming entertainment. The PS3 has been out for a little over a year, and in that time, it has proved to be a hardcore gamers dream. Sony got into the console gaming market in late 1994. The concept for the original Playstation (it was under a different name, SNES CD) was actually brought up in a joint partnership with Sony and Nintendo in the late 80’s; however, when the time came to announce their new hardware, Nintendo re-read over their earlier contract and found the agreement to no longer be satisfactory. As a result, Sony took all the research they had done and began work on the Sony Playstation. 3 Table of Contents Situation Analysis ......................................................................................................................................... 4 Internal Environment ............................................................................................................................... 4 Key Executives ...................................................................................................................................... 4 Board of Directors ............................................................
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...Nintendo Wii, Xbox, and Sony’s Playstation 3 are the top three video game consoles in the U.S. market. In order to become more competitive, and gain a larger share within the video game console market, Sony must make some changes within their marketing mix. In an industry with a value of over $450M and $670M, the U.S. video game console and video game software markets, respectively, are rapidly growing and highly profitable markets. The largest segment of the market (over 56%) for video game consoles are men ages 18-34. These young men are purchasing action/adventure games (39% of the video game market) and sports games (36% of the video game market). In order for Sony to capture a larger share of the video console market through their Playstation 3, Sony should adjust their marketing strategy to market towards men 18-34 and use the sports video game market to assist their marketing for the console. Current marketing techniques are designed to increase anticipation, video clips/trailers for the video games, and the utilization of humor and dramatization. Sony can use current techniques to their advantage by focusing their efforts towards men aged 18-34. Differentiating the Playstation 3 against Wii and Xbox, Sony can gain more appeal for the targeted demographic. One of the biggest interests and of young men aged 18-34 is women. Using women and perceived sexuality, Playstation 3 can create differentiation within the market to generate a greater appeal within the targeted...
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...of the growing entertainment industry, the industry's revenue has now reached $26 billion in annual revenue and there is currently no indication of decline in the industry. So, in order to identify how the revenue is distributed, it's essential to look at the supply chain of the entire PS3 business. As seen in the supply chain, there are opportunities in many aspects of the console business, coming from the actual console sales as well as extras such as games. The customers, as identified by our segmentation analysis table, are at the end of the supply chain, and their consuming of video games are distributes across several actors. Additionally, the most known among the actors are of course the hardware manufacturers, which include Sony, Nintendo and Microsoft. Except for the revenue coming from the console sales, they also get about 20% of the market price for the games, which are mostly sold in the growth level of the product life-cycle. The additional revenue in the supply chain is split among the other actors. Looking more closely at the publishers and developers, we realize that the publishers are likely to take a large portion of the revenue. Those are the large international companies that have sufficient funds to build a distribution network and employ developers to pull off new best-selling games for the consoles. Hardware manufacturers usually try to pull off deals with these companies when they identify potential best-selling games because the top 3.3% of the...
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.......................................................................................................... 4 Power of Buyers ........................................................................................................................................ 4 Substitutes ................................................................................................................................................ 5 Degree of Rivalry ....................................................................................................................................... 6 Firm Analysis ................................................................................................................................................. 7 Company Strategy ......................................................................................................................................... 8 Competitive Advantage and Sustainability ................................................................................................... 9 Recommendations ...................................................................................................................................... 10 Conclusion...
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...The Analysis of PlayStation of SONY Corporation NAME: Mei Zhang Yixuan Yao Zhaorui Liu Yong Zhang In this case we choose the SONY Corporation. SONY Corporation (NYSE: SNE), commonly referred to as SONY, is a Japanese multinational conglomerate corporation headquartered in Minato, Tokyo, Japan and the world's fifth largest media conglomerate measured by revenues. SONY is one of the leading manufacturers of electronics products for the consumer and professional markets. The Game is an important industry, SONY launches "PS3" in the middle of 2006, and it also strengthens self-developed video games software. We focus on the PlayStation of SONY Corporation to analysis the market structure and the competitors (XBOX of Microsoft, WII of Nintendo) A. Nature of demand 1. The buyers currently go about buying existing products of SONY considering the number of stores shopped, the consumers will feel that the more stores sell one item, the more popular the product is. For example, there are many different types of SONY Digital Single Lens Reflex Camera, but most stores only sell α35,α390, buyers may propensity to buy this two types. Buyer will buy SONY`s products when they are sold in different stores. The buyers also consider the industrial sources, as a consumer, we all want to the best raw material, intermediate material and final material, thus the industrial sources is the key factor. The display screen...
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...Sony Background In 1946, Sony was founded in Tokyo by two men, engineer Masaru Ibuka and physicist Akio Morita. During that time, Sony was named Tokyo Telecommunications Engineering Corp. As by the year 1958 Sony only adopted its present name. At nowday, Sony acted as the major Japanese manufacturer of consumer electronics, the world’s top media company and a leading supplier of video game console. As the five major businesses of Sony, includes entertainment (music and motion pictures), game, financial services and electronics. Sony’s a media conglomerate type of company as Sony own a large numbers of companies such as television (Sony Pictures Television), DVDs (Sony Pictures Home Entertainment), film (Sony Pictures Entertainment and Sony Digital Production) besides that, Sony also has a several financial services businesses and an advertising agency in Japan. (Company History, 2013) Compared Sony’s organizational structure to other companies such as Google and Microsoft, Sony is a lot simpler. Sony’s organizational structure consists of the Chairman Osamu Nagayama and Kazuo Hirai the President, Chief Executive Officer and Director. Lastly Masaru Kato is the Chief Financial Officer, Director and Executive Vice President of Sony. Nineteen groups were reformed and divided into eight divisional companies within Sony, each with its own president that helped and make Sony’s endless efforts. Their jobs were to foresee and supervise what was happening and report back the profit...
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...Introduction of Sony Entertainment Company: Sony Corporation is one of the best-known names in consumer electronics and ranks second worldwide in electronics behind Matsushita Electric Corporation. Since it was established shortly after World War II, Sony has introduced a stream of revolutionary products, including the transistor radio, the Trinitron television, the Betamax VCR, the CD player, the Walkman portable cassette player, and the PlayStation game console. The company's electronics segment--which includes audio and video products, televisions, personal computers, monitors, computer peripherals, telecommunications devices, and electronic components (such as semiconductors)--generates about two-thirds of the overall revenues. Sales of game consoles and software account for about 9 percent of revenues. Another 10 percent of revenues are derived from Sony's music businesses, which include the Columbia and Epic record labels. About 7 percent of revenues come from Sony's motion picture and television business, which includes the Columbia TriStar studio. Sony's other major business segment is insurance, from which about 6 percent of revenues originate. Sony is a global manufacturer of audio, video, communications and information technology products for consumer and professional markets. With its music, pictures, game and online businesses, the company is uniquely positioned to be one of the world’s leading digital entertainment brands, offering an outstanding portfolio...
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