Sony Corporation marketing strategy

Sony Corporation marketing strategy Research Paper example
Masters
Research Paper
Marketing
Pages 10 (2510 words)
Download 0
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…

Introduction

• 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 ...
Download paper
Not exactly what you need?

Related papers

contemporary and international marketing
In simple words, international marketing requires an organization to implement more than one marketing mix into foreign markets, keeping in view the macro and micro environmental aspects of the respective markets (Doole and Lowe). Organizations engage in international marketing and business activities to expand their business size and ultimately the customer base for generating greater revenues…
Peer review assesment
A high quality product is a product that has been proven to retain its high quality product status for years (Cinzkota, 2007). Second, Sony Corporation focuses on selling the company’s products at reasonable prices. The strong demand for the Sony products indicate the products are sold at reasonable prices. People would normally shy away from products that are normally overpriced. A high demand…
SONY
Marketing can be said as identifying the wants of the customer and providing them with those wants at a price they are willing to buy. It is not only about advertising your product but also making sure that your marketing of a product reaches to the right target market. To get better results, we use several components of marketing which include planning, pricing, promotion and distribution…
explain the relevance of marketing concept to the 21st century business of Sony
Although, Sony Corporation is the reputed electronics business unit operating under the parent concern named Sony Group that operates in many other operating segments such as Electronics, Motion pictures, Music, games and Financial Services (Sony Corporation of America, 2013). Apart from other segments, Sony is the unbeatable name in the sector of electronics and so Sony Group (Sony Electronics in…
Sony Corporation
On 2012 list of Fortune Global 500 companies, Sony is ranked 87th. Sony Corporation is the parent company of Sony Group. Sony group has many segments like electronics, music, motion pictures and financial services. These include Sony Electronics, Sony Computer Entertainment, Sony Pictures Entertainment, Sony music entertainment, Sony Financial. Sony is the third-largest manufacturer of television…
Sony..read the requirement carefully
It is also among the top a hundred effectively managed companies across the business world (Koontz & Weihrich 2006, p. 104). This was because of its renowned heritage of creativeness and innovativeness. On the other hand, marketing concept is a marketing philosophy in which a company’s goals revolve around the identification and achieving the needs and wants of the customers (Singh 2004, p. 11).…
Preparing the marketing audit for market entry
Contents Executive Summary 2 Introduction 6 Main Findings 6 Product 7 Price 8 Place 8 Promotion 8 People 9 Processes 9 Physical evidence 9 McKinsey 7S of Sony Corporation 10 Strategy 10 Structure 10 Systems 11 Style 11 Staff 12 Skill 12 Shared Values 12 Value Chain Analysis of Sony Corporation 12 Firm Infrastructure 13 Human Resource 14 Technological Development 14 Procurement 14 Inbound Logistics…