...History………………………………………………………………………………………………………………….....3 3. Current Market of Sony Corporation………………………………………………………………………..3 4. Organizational Orientation……………………………………………………………………………………….4 5. Sony's current Market analysis…………………………………………………………………………………4 6. Sony’s Orientation……………………………………………………………………………………………………6 7. Sony's Competitive Advantage Analysis……………………………………………………………………7 8. Porter's generic strategies………………………………………………………………………………….......8 9. Porter's competitive Forces………………………………………………………………………………........9 10. Marketing Mix………………………………………………………………………………………………………..11 11. Sony’s Product Mix and Product Line……………………………………………………………………..12 12. Price Mix………………………………………………………………………………………………………………..14 13. Sony’s Promotion Mix………………………………………………………………………………………......17 14. Sony‘s Place Mix…………………………………………………………………………………………………….18 15. Sony‘s Distribution Channels………………………………………………………………………………….19 16. Sony Corporation's Success………………………………………………………………………………….…20 17. SWOT analysis…………………………………………………………………………………………………........22 18. Recommendations to maintain Competitive Advantage…………………………………….…..24 19. Conclusion………………………………………………………………………………………………………….….25 20. Bibliography / References………………………………………………………………………………….....27 Introduction: Sony is a leading corporation primarily operating in electronics. They are leading manufacturers in electronic goods. Sony holds a great quality and technological leadership in the market. Sony products are in the fields of entertainment, communication...
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...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 to...
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...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 to...
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...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 a new product every 7 to 10 years, which usually releases around the holiday season. This coming holiday season Sony is releasing its PlayStation 4 which...
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...1. Sony is currently pursuing an operations strategy where most of its high-definition TV production is contracted to other firms. By contrast, Samsung is committed to keeping production of its TVs in-house. Why do these firms pursue different operations strategies for basically the same products? Advantages of Sony using the “Buy” (Outsource) strategy: • Allow Sony to concentrate resources on unique applications like movies, video games, and music. • The fastest growth is in low-end televisions sold in developing counties like China; whose production can be more easily outsourced than more sophisticated models. • Outsource partner may be able to manufacture products at cheaper cost. • Flexibility in choosing outsource partner who specializes in product. Sony can match suppliers who can meet market demand. Outsource partner may be an expert or have latest production and manufacturing technologies available. • Sony is losing money, and manufacturing is very capital intensive. Sony can save money and use its resources to fit their strategic organizational objectives. • Offsets: using an outsource supplier may help Sony capture orders or improve business relations with the suppliers home country. Advantages of Samsung using a Make (Produce) strategy: • Samsung leadership believes that giving up manufacturing is tantamount to abandoning your brand. • Samsung can maintain tight control over the value chain, and therefor over quality. • Samsung keeps all the profits...
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...Product, Pricing, and Channels Team Paper MKT/421 January 06, 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...
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...Marketing is the exchange of goods in terms of money. Marketing Strategies are said as different tools of marketing whether how to advertise the product or we can also say as what technical terms we should adapt or to follow to make your product successful. Marketing Strategies combines all its goals to make a one plan which includes the every aspect and outcome of the product. The objective of the marketing strategy should focus on how should we increase the sales by getting and keeping customers and the marketers should maintain a good and healthy relationship with the customers for the better growth of the business. A successful market strategy will depend on how you understand your customers and what they need and how you can adapt them...
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...Since the global recession in the 1970s, Barco’s strategy focused on the top-of-the-line products in the industrial markets. Being a small company, it competes by carving out its niche market on the basis of its strength in research and development (R&D) and high quality products. Its general strategy comprises of three key elements: leadership in complementary niche market; strong commission in R&D; expand its international presence in sales, product development and production. As such, it became one of the top three worldwide manufacturers in each of its product lines: automated production control systems, graphic arts, computer-aided design and industrial projection. The global projector market was estimated to grow 8.5% per annum with graphics projectors having the highest growth potential at 40.2%. United States and Western Europe comprises 88% of the market. Barco’s strength* is with the graphics projectors with a market share of 55%, followed by data projectors with 23% (second to Sony’s 49%). Zooming into Barco’s product line strategy, it segmented markets by scan rates and developed products targeted at addressing the needs of specific segments in the industrial market. It focused on differentiating its products through technology and its sophisticated applications. This created uniqueness for its products and confined competition to a niche segment that is willing to pay premium rates for the quality desired. By 1989, Barco established itself in the entertainment...
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...Marketing Strategies Segmentation Targeting and Positioning (STP) Sonja’s part Marketing Mix (4Ps) Product Firstly, product line extensions which Sony products supplement an existing product line with new features of Sony Smartwatch 2. Product line extensions allow the firm to keep its products attractive and exciting with minimal development costs and risk of market failure (Ferrell & Hartline, 2011). For example, Sony has introduced recently new colors for smartwatch 2 in order to attract more customers. Secondly, in terms of improvements of existing products, Sony products offer customer improved performance and greater perceived value. The Sony has offered “the voice command technology” which is able to control basic functions by using the voice. Also, Sony has introduced “internal storage space” that enables customers to store their photos and music. Hence, the Sony SmartWatch 2 is a complete package of style, advanced technology, and convenience which are able to satisfy the needs of customer. In addition, brand strategy is one of the most crucial marketing plans of the Sony Smartwatch 2. A band is a name of symbol which identifies a product. A successful brand defines a product as having sustainable, competitive advantage (McDonald, M & Wilson, H; 2011). Sony brand helps profitability by adding values that attract customers to buy. As regards packaging, the Sony Smartwatch 2 should include the print of characteristic features and attributes to emphasize the...
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...The feasibility for SONY to develop low-end versions of its video games in UK market from the perspective of marketing 2.0 Aims and objectives: 1. Obtain a preliminary understanding of the target market environment of SONY (1) Understand the basic development conditions of the UK game market. Is it a mature market or an emerging one? (2) Understand SONY's main products in the UK game market. Is there a market for lower-end video game products of SONY? (3) Understand the sales of SONY’s video game in 2013 in the UK. Is it impressive in the industry today? (4) Understand the conditions of main contenders of SONY. Compare the sales between SONY and its main competitors in 2013. (5) Understand the market share of the low-end video games developed by SONY in the UK. Is there a market for it? What kind of consumers prefer to buy such products? 2. Analyze the establishment of a viable product marketing mix of SONY in the low-end market from the perspective of 4P marketing theory. Price (1) What is the consumer expected price (2) What pricing strategy is appropriate for SONY (3) Estimate whether the product can bring profit Product (1) How to position a suitable product to meet market demand (2) How to increase the competitiveness of the products with an outstanding product concept. Place and promotion (1) How to select ideal sales locations to boost sales (2) What promotional tools would be appropriate? Through the answers to the first part of questions, it can be known...
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...Promotional and Advertising Strategies By Aveon Sims Strayer University BUS 508 Contemporary Business Professor Jean Fonkoua August 31, 2014 Promotional and Advertising Strategies Promotion and marketing are among the most essential market mix features or elements. Market mix involves different strategies commonly known as the 4P’s: product, price, place and promotion. The key motive of promotion is to increase clients’ awareness of a brand or a project increase brand loyalty and generating sales. Promotional mix is composed of diverse elements such as personal selling, sales promotion, advertising, publicity and direct marketing. Both large and small customers understand the importance of promotional advertising strategies such as turning a new product to become a household name or established products into to top priority of the customer. Small and large companies benefit through applying different strategies of promotion and attracting more customers. A television set has become a necessity in the modern life with all the families searching for the best brand that is easier to operate and has more applications. Different organizations have ventured into the manufacturing and assembling of television set to enjoy the advantages (Scissors & Roger 2002). The paper will focus on advertising and promotional strategies applied by different companies that concentrate with manufacturing and assembling television sets. Samsung and Sony have emerged as the two most successful...
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...PROMOTIONAL STRATEGIES AND ADVERTISING STRATEGIES SONY VS SAMSUNG (Electronics) BRITTANY N FLYTHE STRAYER UNIVERSITY BUS508 CONTEMPORARY BUSINESS 06/17/2015 SONY AT A GLANCE Sony Corp. is engaged in the development, design, manufacture, and sale of electronic equipment, instruments, devices, game consoles, and software for consumers, professionals, and industrial markets. Its operations are carried out through the following segments: Consumer Products and Service; Professional, Device and Solutions; Pictures; Music; Financial Services; and Other. The Consumer Products and Service segment includes Sony Computer Entertainment, Sony Network Entertainment, VAIO & Mobile Business Group, Personal Imaging and Sound Business Group, and Home Entertainment Business Group. Sony engages in a variety of different marketing efforts, as one of the world's largest and most pervasive corporations. Sony's former slogans have been "The One and Only", "It's a Sony", "like.no.other" and "make-believe". Its current slogan is "BE MOVED”. During the 1990s, Sony transformed itself from electronics manufacturer to global entertainment company, establishing a leading position in music, movies and computer gaming (“AdbrandsWeekly.”2015). But those new ventures distracted attention from the company's core business, which is now struggling to maintain its position in the rapidly changing marketplace. Sony invented the concept of portable personal music players and dominated that sector for...
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...Introduction: Strategic analysis for a business and a clear planning and forecasting about the sales and making new target market etc are important business phenomenon in a competitive industry like the video games industry. At first we should have a complete idea about strategy. The definition of strategy states that- “A specific pattern of decisions and actions undertaken by the upper echelon of the organization in order to accomplish performance goals is called strategy [1]”. From the case study we get a fantastic idea about how a business plan should be made and executed to sustain the highly volatile and oligopolistic market (few sellers with uniform/non-uniform product). I will discuss about these strategy of Nintendo here. Assessment of current strategy: Though Nintendo is a big and renowned video game publisher from the very early age of video games in Japan, it captured 80% of USA games market a few years later than Japan. Before reaching the big USA market they made an outstanding plan for positioning their product with care and consciousness. While other companies like Sony and Microsoft made a mess among their business strategy Nintendo did well by making careful relation between software and hardware, uniform distribution as well as quality assurance of the product. Target market and market research are important tools for forecasting business policy. While other companies confined their market within the consumer range of 13 to 30 years, Nintendo expanded their...
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...1940's after James Culliton had described the marketing manager as a "mixer of ingredients". The ingredients in Borden's marketing mix included product planning, pricing, branding, distribution channels, personal selling, advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis. E. Jerome McCarthy later grouped these ingredients into the four categories that today are known as the 4 P's of marketing, depicted below: The Marketing Mix These four P's are the parameters that the marketing manager can control, subject to the internal and external constraints of the marketing environment. The goal is to make decisions that center the four P's on the customers in the target market in order to create perceived value and generate a positive response. Product Decisions The term "product" refers to tangible, physical products as well as services. Here are some examples of the product decisions to be made: • Brand name • Functionality • Styling • Quality • Safety • Packaging • Repairs and Support • Warranty • Accessories and services Price Decisions Some examples of pricing decisions to be made include: • Pricing strategy (skim, penetration, etc.) • Suggested retail price • Volume discounts and wholesale pricing • Cash and early payment discounts • Seasonal pricing • Bundling • Price flexibility • Price discrimination Distribution (Place) Decisions Distribution is about getting the products to the customer. Some examples...
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...Projected growth in the electronics market. As a leader of it’s industry, Sony can adapt to changes in consumer demands as the happen. Additionally, Sony has reorganized in a way to put people with global experience and technological know-how in positions to maximize potential growth. 3. Strong position in emerging economies. Sony is strong in Brazil, Russia, India, and China. These countries areas represent 40% of the worlds population as well as a vast emerging market Weaknesses 1. Sony’s media production has a high cost. This has affected the company’s pricing strategy, leading to a loss of $6.3 billion between 2004 and 2012. 2. Sony has too many business segments. Originally they held one core competency, making great consumer electronic products. Because of this diversity the focus has been shifted. Opportunities: 1. Sony can add value and content in its movie, music, and gaming by integrating their product line. 2. Their gaming industry is in a position that is friendly and supportive to indie developers. This provides them with the chance at exclusive content that won’t be out on other consoles Threats: Sony’s threats all come from other businesses. Microsoft and Nintendo are strong competition in the gaming industry, which is where Sony makes their largest profit. Losing out to either of these other companies would impact Sony greatly. Business Strategy (and global plan): Sony has decided it will no longer try to pursue growth in industries where intense...
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