Sony Marketing Mix: As we all know, Sony is among the most sought-after and reputable makers of gaming consoles, informational technologies, and video and electronics for the professional market and customers, which has helped make the company one of the most prosperous and most loved companies. Sony Group is mostly focused on electronic products.
- IT and AV products
- Games like PlayStation
- Motion images
- Financial services, which include insurance and banking sectors.
Sony is a well-known worldwide company that has a wide variety of businesses. They are determined to utilize this uniqueness in full force, executing their convergence strategy with determination. The main goal for Sony is to inspire and delight its customers with its distinct products. Masaru Ibuka, as well as Akio Morita, established this company back in 1946. the headquarters is located in Minato, Tokyo, Japan.
In the world of semiconductor manufacturers, Sony occupies the 20-place spot in the world. In 2008 Sony Corporation employed approximately 163,000 employees. In 2014, they were among the top 5 brands, with an annual revenue of over $8.87 trillion annually. They rank as market leaders due to their exceptional quality and customer service. They can satisfy their customers by exceeding their expectations.
Marketing Mix Of Sony
Contents
Marketing Mix Of Sony is brand-based. In Marketing Mix Of Sony, We will Learn About the four key elements of Marketing Mix: products, place, price, and Promotions. By paying attention to the following four components of the marketing mix, a business can maximize its chances of a product being recognized and bought by customers. We will be discussing Sony Marketing Mix. Below is the detailed Marketing Mix Of Sony.
Let’s talk about Sony Marketing Mix.
Sony Main Competitors
- D-Link
- Samsung Communications Centre
- Ganz
- Genetec
- Indigo Vision
- Lorex
- Synology
- Vivotek
Sony’s official website: www.sony.net
Product in the Sony Marketing Mix:
The product of a company is an essential component. The product that a company produces determines the company’s brand. When we talk about a product, we don’t just refer to the tangible elements as well as the non-tangible ones. When a consumer looks at a product, they think about whether or not it’s safe. They also consider if they are satisfied with their requirements, if they like the product’s appealing design, and if it’s reasonably priced before making a purchase.
Sony is well-known for its high-end quality and services. They are the market leader in the entertainment world, with their product range being beneficial. Sony Corporation produces products that are Sony Corporation includes:
- Audio-related devices are portable for home and car as well as personal navigation systems.
- Televisions -Projection TVs, LCD televisions, LED TVs, and CRT-based televisions.
- Digital cameras – Video and video recorders. And players.
- Games – PlayStations.
- Semiconductors: CCD, LCD, and various semiconductors.
- Computers, Information-printers, and computers.
- Motion pictures, Television, and motion pictures
- Mobile phones
The company also started with customized PlayStation cards and Sony cards, which can be utilized for reward cards. Customers can redeem points once they have purchased all Sony items or products. Sony has also begun making laptops that come in various sizes, shapes, and specifications. They offer laptops under the brand name Sony Vaio. They introduced the laptop in India on 24 October 2004. September 2004. They are available in seven models, including:
- Vaio FW
- Vaio SR
- Vaio TZ
- Vaio SZ
- Vaio Tokage
- Vaio CR
- Vaio NR
Price in the Marketing Mix Of Sony:
Sony attempts to market its products in a highly strategic way. In particular, they strive to use a three-tiered pricing system that is appealing to buyers in the economy and middle-class buyers, and high-end purchasers.
When Sony Corporation launches a new product with distinctive features, they attempt to use pricing skimming strategies. This means they will charge an increased price for their exclusive product at its launch, and the price will decrease slowly. The concept behind this approach is that it helps maximize profits when the product goes on sale, and when prices decrease, it improves sales. For example, when Sony released its first high-definition Television in 1990, it was priced at more than $43,000. However, prices decreased to $6000 in 1993. The prices were further reduced to just $2000 in 2001. When Sony decided to sell its Walkman, it offered it at a premium price compared to other models. Despite that, they dominated the market. It was due to the constant performance, the amazing sound quality, and the high quality that the Walkman provided.
Yet, Sony was also an affordable producer of numerous items. This allowed the company to have enough resources, evident in the competition. Sony’s pricing strategies are the finest example of a mix of differentiation and low-cost strategies. For their laptop line, Sony attempted to set prices for each laptop following its design, its mobility performance, and even the end user.
Place in the Sony Marketing Mix:
Sony creates their marketing strategies every time based on their distribution channels. They ensure that their products are accessible to customers in a simple manner. In a country such as India, where the population prefers purchasing long-lasting goods and items, the last distribution channels play an important part. The distribution channel comprises the retailer, the manufacturer, and, finally, the customer. They generally use the selective sale of their merchandise from extremely selective dealers like SONY WORLD.
In India, Sony has a presence throughout the country. Their distribution network includes more than 7000 channel partners, more than 260 Sony outlets, and 21 branches. They use one-level distribution channels. Their wholesale distributors are big names but not limited to Dongsheng International Trade Co. Ltd, Front-Page Trade Co, Ltd, and Best wholesale co. Ltd and Denzuke Network Sdn.Bhd.
Promotions in the Sony Marketing Mix:
Promotion is the most important factor in effectively launching products and making people using them aware of the product’s value. The promotion has an impact on both the company as well as the product. It assists the company in boosting its profits dramatically and provides information and raises awareness about the products for consumers. Sony Corporation is using this strategy very effectively.
Their slogan, “Make. Believe”, sends a message to bring together initiatives across electronics, network services, mobile phones, films, and music. It also represents the essence of Sony’s creativity and innovation. They utilize a variety of celebrities to promote their products. At one time, models of their products were famous actors such as Deepika Padukone or Kareena Kapoor from India. Recently, Katrina Kaif was announced as a brand ambassador for their range of smartphones, Xperia.
Sony uses advertisements such as billboards, televisions, newspapers, magazines, and the like to promote their products. They dominate internet marketing. They utilize various PDF brochures and videos to ensure customers are aware of their products and business. Additionally, they provide cards that can be redeemed whenever someone purchases. They generally focus on the pull approach to draw customers.
The year 2006 was the time they released a Dutch advertisement, which was met with lots of criticism. The commercial featured a white model who was dressed in black and white, as well as a model who was dressed in black. The campaign aimed to promote their white-colored products with the message that ‘ white is coming’. But, some thought this was a form of racism.
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