MarketingMix: Sony Corporation
MarketingMix: Sony Corporation
Marketingmix is one of the key functions that businesses operating in thecontemporary environment cannot overlook given the stiff competitionthat organizations are facing. There are different marketing toolsthat businesses can use to enhance their marketing operations. Themarketing mix is an effective tool that is used by marketers todetermine the brand or product’s offer (Manktelow, 2014). Marketingmix, abbreviated as 4Ps have four major components, includingproduct, place, price, and promotion. In essence, the tool is used todescribe various kinds of choices that marketers can use to bringservices or products to market. This paper will analyze the marketmix for Sony Corporation. Sony Corporation is a multinational firmwith headquarters in Tokyo, but it has operations in other countries,including the United States (Sony Corporation, 2014). Sony is aconglomerate, but its main focus in the production and sale ofelectronics of electronics. This paper will address the applicationof the 4Ps mix bring the Sony’s play station in the market.
Theproduct is the item that consumers need or want. Sony PlayStation isa product that is designed to add value to clients’ life byenhancing their experiences in the entertainment industry. ThePlayStation is a modern technology gadget whose life cycle is likelyto last fro the unforeseeable future. The market of the PlayStationis likely to face different challenges, including the introduction ofnew play stations utilizing more advanced technology. However, Sonyhas embarked on research and development with the objective ofexpanding the product line. Consequently, Sony has developeddifferent models of PlayStation, which include the PlayStation 4System, PS Vita, PlayStation 3, and Video Games (Sony Corporation,2014). This suggests that Sony’s strategy is to differentiate thePlayStation through packaging and design, which will in turn causethe PlayStation to stand out in the market. Some of the features thatmake Sony PlayStations different and unique compared to other playstations produced by other manufacturers include high speed, powerfulgraphics, social capabilities, intelligent personalization, andintegration of the second-screen features (Sony Corporation, 2014).These features are intended to ensure that the PlayStation willincrease the client’s utility and meet the needs of the targetcustomers.
Priceadjustment affects the marketing strategy adopted by theorganization. This is because product prices are elastic andinfluence the market demand for the product and sales realized by thefirm. In the case of Sony PlayStation, price is determined andregularly adjusted depending on the price at which play stationsproduced competitors are priced. The price of different products isalways expected to communicate much about their quality (Faulds &Lonial, 2001). Since the quality of Sony PlayStation is higher thanthe quality of other PlayStations, their prices are in most casesslightly above the prices of other PlayStations. However, theseprices are adjusted up and down to ensure that the difference betweenthe price charged by Sony and the price charged by othermanufacturers is not too large to scare consumers away. This type ofpricing strategy is aimed at positioning the Sony PlayStation as oneof the mainstream products, instead of the PlayStation beingperceived as a niche product.
Placerefers to the location where a given product can be accessed byconsumers. Taking the product closer to consumers is one of theobjectives of the marketing mix. Manufacturers (including SonyIncorporation) have different options to move ensure that theirproducts reach the consumers. These options include the use ofretailers, wholesalers, and direct sales (Moderadi Incorporation,2014). Sony Incorporation utilizes different channels to ensure thatthe PlayStation reaches the target consumers. One of the majorchannels is direct sales through Sony Stores. The stores are locatedin different places, in both large and small urban centers, in orderto ensure consumers can access the products easily. Other commonchannels include retailers, including Best Buy, Future Shop, andRadio Shack (The Sony Stores, 2014). In addition, Sony has venturedin online marketing in order to help more clients access theproducts.
Promotionrepresents communication that is spread by marketers to potentialconsumers through publicity, advertising, and sales promotion. Sonypromotes its products (including the PlayStation) throughadvertising. Although magazine adverts have been a significant partof Sony promotion strategy, online advertising has taken the firstplace. Sony advertises the PlayStation and other products indifferent websites, including those that are owned by Sony Stores(The Sony Stores, 2014). In addition, Sony collects emails ofconsumers who make online purchases or inquiries and use the emailsto inform consumers about new product development or technologicaladvancements. Offering rebates and coupons are some of the optionsthat Sony may experiment with in the future.
Themarketing mix is an important tool that helps marketers in bridgingthe gap between the manufacturer and the end consumers. In the caseof Sony, the four components of the marketing mix are critical intaking the PlayStation closer to consumers. The market efforts aredesigned to make the PlayStation a mainstream product. Prices arechanged to reflect the market trends. In addition, Sony utilizesdifferent marketing channels (including direct sales and retailers)to reach the end consumers. In addition, Sony Corporation usesdifferent channels (such as direct sales and retailers) to ensurethat the product reaches places that are convenient to the client.The common promotion strategies used to market the PlayStationincluding magazine and online advertising.
Faulds,J. & Lonial, C. (2001). Price quality relationships of nondurableconsumer products: A European and United States perspective. Journalof Economic and Social Research,3 (1), 59-76.
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SonyCorporation (2014). PlayStation: Greatness waits. SonyCorporation.Retrieved November 21, 2014, fromhttp://store.sony.com/playstation/cat-27-catid-PlayStation?SR=nav:electronics:main_nav:playstation:ss
TheSony Stores (2014). Marketingchannels analysis.Tokyo: The Sony Stores.