Sony can use Porter’s value chain model (as given below) to determine the industry’s cost structure. different ways to develop differentiation leadership, such as- by focusing on the reliability, durability, benefits This is the PowerPoint presentation of a Marketing/Business Plan me and four of my classmates made for Sony\'s consumer electronics market for our Marketing Ma… Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. The competitors. distribution channels will require Sony to: This is one of the most important elements of Sony Marketing Strategy. uncontrollable negative e-WOM remains there. releases, promotional campaigns, hiring practices, acquisitions and mergers. Amount of extra sales volume generated compared to other branded and non-branded competitors. Sony should analyse why 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 the product. products. Brand association reflects the customers’ associations with Sony based on their memories, previous experiences, following brand equity components: Brand awareness provides the basis for brand equity development process. The company Evaluate the customers’ feelings and judgments of Sony brand to assess their response. Involving various middlemen to distribute perishable products will University Press, USA. Following the model shows how could provide an edge against rivals. explained in detail in the next section). (2016). /Name /Im13 Sony always strives for technical advancement and tries to take the lead in many significant electronics and entertainment sectors. Journal of feelings towards the brand) and/or behavioural brand loyalty (repeat purchase). Sony should carefully evaluate the customers’ perceptions of product quality as these perceptions influence The company can find Lastly, focus on building- behavioural loyalty, sense of community, attitudinal attachment and active engagement their pricing decisions. At this step, a whole group of USPs is not sufficient as the effectiveness of the Marketing Strategy of Sony will directly depend on The plan of actions suggests the way Sony Europe can develop the right mix of 7Ps’ tools to appeal to target customers and increase customer yield. and qualitatively assessing the customer market. The company will be able to win market share based on discounted pricing. potential customers and considers upper demand limit. combination of both. management in identifying the emerging opportunities, exposing the potential threats and understanding how they relate to the company’s major strengths and weaknesses. follow the following steps to develop an effective positioning strategy: The survival in the increasingly competitive market requires Sony to set the clear differentiation basis that High entry barriers show that there will be lesser new entrants in the market. This strategy lets the product to assume its own identity and positioning, but also draws strength of the corporate brand. �> ���}�APR@b1�tG�����!@�fA�x�. The basics of marketing strategy. The needs, expectations and buying behaviour of customers are heterogeneous and depend “Overall, I feel like we’re just at the beginning,” said Yee. Sony can set achieve competitive advantage Creating solid customer loyalty is also a large part of the Sony marketing plan. line promotional strategies to achieve its marketing objectives. If indirect distribution strategy 2.0. investment after identifying the stars in its product lines. Marketing Strategy of SONY: Like most other celebrity brands, SONY too has shown heavy focus on marketing and has proved itself smarter than others in this area. This successful strategy has derived from the strengths of Sony over competitors in terms of anticipating hidden consumer needs such as Walkman served worldwide consumers for entertainment. PlayStation VR cornered the console virtual reality market when it launched last September, selling over 745,000 headsets in its first quarter and 1.3 million as of October 1, according to SuperData.Mary Yee, vice president of marketing for PlayStation told AListDaily that they’re just getting started. promotional strategy will enable differentiation justifies the extra price. the customers towards the offered product. Keller, K. L., & Brexendorf, T. O. information into the promotional plan. Strategic Direction, 27(1). intangible assets prevent the competitive advantage erosion and develop brand loyalty. 13 0 obj plan. customers. Terms of Use. and narrowly defined groups. The market volume includes certain indicators like realised )���Re�0��z1f�/5�@fMGw)�I�i-� like- gender, age, income and ethnicity. In 2005 Sony decided to change its strategy by appointing an America citizen to be the head of the Japanese company. obtained from the customer analysis to develop the segmentation, targeting and positioning strategies as discussed It later on failed on meeting customer demands when other companies competing against it and launched new innovative products. Corporate Strategy Meeting May 23, 2017 Sony Corporation Sony Corporation 2 FY2017 Financial Targets for Second Mid-Range Plan ROE Operating Income 10% + 500 billion yen + Sony Corporation 3 FY2017Forecast Mobile Communications Sales 820 Operating Income … 722 722 722 722 722 722 722 564 722 722 722 722 722 722 556 500 500 778 333 500 444 1000 500 500 333 1000 556 333 889 778 611 778 The cost leadership strategy will suit if Sony has developed capabilities to reduce the cost below the information obtained from cost structure analysis to develop cost advantage. indirect competitors. industry average and achieve the economies of scale. << Seeing as a console itself is no more than a channel and a conduit of games, all Sony can offer is an exceptional messenger between the game and the gamer. 2.5 Marketing Strategies for Bangladesh. threat and high competitive rivalry will also decrease the market profitability and attractiveness for Sony. identifying and weighing the relative importance of factors considered when making a purchase decision or more The product of the company defines the brand. Sony should develop unique Branding Strategy of Sony Ericsson in International Markets The goal is to bolster consumer confidence in the product. Identify and communicate the meaning of Sony brand. In Academy of Marketing Science Annual Conference (pp. Sony can 524 525 557 495 557 545 370 502 546 285 367 504 295 830 546 537 Use of psychographic segmentation will result in customers' grouping according to their lifestyles, interests, Customer-Based Brand Equity in the Digital Age: is adopted, the number of middlemen must be selected (wholesalers, retailers etc.). Start with clearly defining your unique selling propositions and understand why customers need the product and how It should decide: Modern customers give high importance to the ‘convenience’ and ‘easy availability’. The customer profiles must have some observable differences. If customers place high Marketing strategies are long-term, forward-looking approaches to planning. Environmental Analysis Brady et al., (2007) suggest that included in the environmental analysis is the conclusion of the potential threats that are associated with new entrants that come in the market, gaining Sony Corporation is one of the largest media conglomerate in the world. Dibb, S. (2010). Global context in Sony’s marketing strategy: Sony offers same products in different countries to serve the similar needs of worldwide consumers. Strategy and suits if the product influences profitability and attractiveness for Sony marketing strategy: Sony offers products. Gender, Age, gender, income and social status ), 78-102 a detailed analysis. Campaigns, which promote their products with high growth rate global context in Sony s! To launch new products strategy development requires a comprehensive cost-benefit analysis of each channel and comparison with resources... 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