20 0 298KB
2.0 Literature Review Marketing mix referred to as 4Ps which is a simple way of implementing marketing plan. 4Ps stand for Place, Price, Products and Promotion strategy of a company or respective brand (A. R., 1997). The four Ps of marketing can be elaborated as follow: (i)
Product: The services or goods provided by the company to consumers (Doyle, 1994).
(ii)
Price: Amount of money that consumers is charged for the product or services provided (Doyle, 1994).
(iii)
Place: Place or known as distribution of products or services around the world which allow access of products of services to consumers (Doyle, 1994).
(iv)
Promotion: Marketing activities to expose consumers to attractive offers by company or brand (Doyle, 1994).
These marketing mix is state as a marketing strategy that is combined to create an effective way to meet the need of consumers. Marketing mix strategy does not stand as a lone factor but is dependent on the objectives of a company (Boekema et al., 1995). This chapter compiles the secondary research done for the marketing mix and promotional tools used specifically by Sony Corporation. Sony Corporation has set its goal to be creatively innovative in developing its products and multimedia services. The objective of the Sony corporation is to ensure consumer savor the multimedia world entertainment (Meyer, 2017). Therefore, in regards to their goals, they applied personalized marketing mix strategy and promotional mix tools. In term of products, Sony Corporation has diversified their products into Audio, video, television, information technology, mobiles and gaming electronics category. Under these categories, the diversity of its product’s range is as shown in the following list: vgbh
(i)
Audio: Headphones, MP3 players, wireless speakers, high resolution audio, audio systems for GPS, Digital voice recorders, boomboxes, radio and portable CD player and a Home theater (Sony USA, 2017).
(ii)
Video:
Camcorder,
Action
cameras,
music
video
recorders
and
professional camcorders (Sony USA, 2017). (iii)
Mobiles: Tables, smart devices includes cell phones, tablets and wearable technology (Sony USA, 2017)
(iv)
Information Technology (Computer): Personal computers and printers (Sony USA, 2017)
(v)
Gaming electronics: PlayStation (Sony USA, 2017)
From the list of Sony Corporation’s products shown above, we can conclude that Sony Corporation has a wide range of products and has successfully diversified its product lines. Besides that, Sony Corporation has managed to reach sales from $3.13 billion in the year 2012 to 3.97 billion in the year 2015 (Asia Pulse Pty Ltd, 2011). The sales is still expected to rise. In term of price, Sony Corporation provides quality products and thus constantly set their prices from moderately high to high. Such prices have always been related to quality by consumers. The brand image of Sony Corporation is perceived as luxury brand by consumers. In comparison to its competitors, the prices are rather higher. This because Sony Corporation related their price to their quality which explain the reason why its products are sold in Japan to maintain the quality of its product (Yermekova, Wani, Hussain and Abbasi, 2013). Japan being an extensive and pricey labor process can ensure the continuity of Sony Corporation product. In regards to its products sold in other countries, the prices vary depending on a country economic condition. The marketing strategy of price skimming and price-quality relationship seems to work as the company is stable in its brand image (Yermekova, Wani, Hussain and Abbasi, 2013). In term of place, Sony Corporation ensure that they stay up to date to technology available by being online available through their website www.sony.com or www.pro.sony.com. These website provide products an prices allowing consumers to study their information especially product’s description which help with making
consumer purchase decision (Rassega, Orlando and Carlo, 2015). Since most of consumers go online to search for solution, search engine can direct them to Sony Corporation products and thus create awareness of products. Online website of Sony Corporation also provide information on the distributors for Sony Corporation nearest to consumers. Sony Corporation Distributors includes ASI corp, Avnet Inc., Jumbo electronics and many more. The most dominant Sony Corporation’s distributors would be Jumbo electronics which distribute Sony Eectronics over 32 retail in the UAE alone (Middle East Company News, 2008). Thus, it is concluded that distributing or placement of Sony Corporation products is made effective by using medial and social network marketing strategy (Rassega, Orlando and Carlo, 2015). In term of Promotion, Sony offer refund for products purchase which is rebate promotiona strategy. Sony also offer discount ranging from 25% to 50% on Sony product purchase such as Computers PC, laptops and man more. As for gaming category, Sony offer playstation cards which can earn consumers points to be redeem for later use. Besides that, Sony also has a refund zone for certain category for a limited period. This applies for Sony video category. Sony used promotional mix such as advertisement, personal sales, sales promotion, direct marketing and publicity (Yermekova, Wani, Hussain and Abbasi, 2013). Advertising by Sony are done via channels such as Sony Wega TV or Bravia televisions. They target television program such as sports and drama. A wide advertising tools are used to promote Sony includes newspaper, mail, catalogues, poster and media. One of the Sony strong point in its advertisement is its two ways communications which encourage consumers to provide feedback directly via telephone and mail provided (Yermekova, Wani, Hussain and Abbasi, 2013). Promotional tools used for sales includes discounts, rebates, free coupons, membership cards, bonus scratch cards, exchange offers, warranty and free samplings (Yermekova, Wani, Hussain and Abbasi, 2013). This is efficient as proven in the sales record of Sony especially in United Arab Emirates.
References A. R., B., 1997. The Five Vs - A Buyer’s Perspective of the Marketing Mix. Marketing Intelligence & Planning, 15(3), pp.151-156. Anon, 2017. Sony USA. [online] Sony.com. Available at: [Accessed 23 Sep. 2017]. Asia Pulse Pty Ltd, 2011. Sony Corporation Sales. Boekema, J., Bueren Van, E., Lobstein, S., Oosterhuis, A. and Schweitzer, P., 1995. Basisboek Marketing (Basic Book of Marketing). Groningen: Wolters-Noordhoff. Doyle, P., 1994. Marketing Management and Strategy. Prentice Hall. Meyer, P., 2017. Sony Corporation’s Vision Statement & Mission Statement - Panmore Institute. [online] Available at: [Accessed 23 Sep. 2017]. Middle East Company News, 2008. Jumbo to roll out golden promotion this DSF. Rassega, V., Orlando, T. and Carlo, T., 2015. Social Networks and the Buying Behavior of the Consumer. Journal of Global Economics, 03(04). Yermekova, N., Wani, Z., Hussain, S. and Abbasi, N., 2013. Marketing Audit Report. Sony Corporation. Dubai: University of Wollongong, pp.16-20.