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Sony Corporation marketing strategy - Research Paper Example

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Masters
Research Paper
Marketing
Pages 10 (2510 words)

Summary

In order to launch PlayStation 4, it is necessary for the company to target certain market segments that would help to identify the needs and the demands of that particular segment. The company should target the consumers whose age group is between 20 to 30 years…

Extract of sample
Sony Corporation marketing strategy

• At present, the company wants to launch its new product i.e. PlayStation 4 which is the extension of its existing product line
• Prior to introducing its new product, the company is required to follow and implement new product development strategy which would facilitate to identify the current market situation, competitors’ performance and changing consumer buying behaviour among others
• After analysing marketing mix strategies, it has been observed that the company’s new product possesses a wide variety of innovative features which are quite unique from its competitors, which offer similar kind of products
• In terms of pricing strategy, the company will follow the strategies of discounting price, competitive price and psychological pricing in order to attract the target market across the duration from launch to the upcoming five years
• Apart from these, the company also would offer trade discounts, seasonal allowances and also offer payment discounts to the consumers who deliver early cash before getting the product
• Additionally, the company will adopt certain distribution strategies in order to reach more market coverage for the next five years. Furthermore, it will also adopt certain promotional strategies which would facilitate to increase the sales for the next consecutive five years ...
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