Executive Summary

Sony is the company that stands behind the invention of “PlayStation game console” (Tang et al., 2012). It is Japanese multinational company that has a long history, which stretches back to as early as 1946 (Tang et al., 2012). Sony was created shortly after World War 2 had ended. Masaru Ibuka, a radio repairer, was the man behind the initiation of Sony Company. After having convinced the american company to use a transistor which was created in order to improve their products, Morita and Ibuka succeeded in building a transistor radio. That kind of radio was a pioneer. As a result, Regency Electronics, the initiator of the transistor technology, became popular and successful due to their decision of creating a joint venture with Ibuka’s company (Lee, 2011). 

The first transistor radio produced by the Tokyo Company was known as “Sony TR-55” (Tang et al., 2012). Later, the company invented another model of transistor radio – “Sony TR-72” (Tang et al., 2012). The new product caught attention of both Japanese and international markets. The international radio market at the time was composed of such countries as Germany, Canada, Netherlands, and Australia (Lee, 2011). “Tokyo Telecommunications Engineering Corporation” had been continuing improving quality of its products for years. Thus, it became one of the most successful companies in the world in terms of commercialism (Tang et al., 2012). Sony boosted Japanese market by improving its export capability. Japan became a highly powerful exporter of Sony products during 1960-1980s (Lee, 2011). Sony ventured into new business fields such as film and entertainment, banking, and insurance. It linked its films, digital electronics, and music to the internet in order to enhance its competitiveness. One of the product brands that Sony invented was called “PlayStation Game Console” (Tang et al., 2012).  

PlayStation Game Console and Its Market Performance

A. Sales Volume of PlayStation Game Console

“Play Station Game Console” is a combination of many video games that come in form of a series (Tang et al., 2012). These video games were developed by “Sony Computer Entertainment” (Tang et al., 2012). The series of video games were introduced in December, 1994 (Tang et al., 2012). The original video console is in form of a series of play stations. It was able to ship up to millions of items in a period of less than 10 years. PlayStation 2 was launched in 2000 (Tang et al., 2012). Since then, it has continued to thrive, enabling it to become the leading entertainment game console to date. Currently, the total sales of its copy have exceeded 155 million items (Tang et al., 2012). The sales target was attained in December, 2012. The latest version of PlayStation is called PlayStation 4. It was launched in 2013 (Lee, 2011). It was announced that over 1 million copies were sold within 24 hours upon its release. “A digital video recorder” is a part of many sets of hardware series, which have been released in order to supplement the PlayStation series. “PlayStation Home” is one of the most successful video games having reached over 31 million users (Lee, 2011). 

“Play station game console” has grown into multiple versions over the years in has been operating (Sterman et al., 2011). Different versions have resulted into varying sales volumes dependent on their attractiveness. Sony had set its sales target of 6 million by March, 2007 (Sterman et al., 2011). Nonetheless, it fell short of these targets with only 3.68 million copies of the game being sold. Moreover, the game launching in Japan was delayed in 2006. The delay occurred since there were some final plans of a specification that was referred to as Blue-ray. A total of 81,639 game consoles were sold by November, 2006 (Sterman et al., 2011). However, the sales of PS3 games were limited to 66,684 (Nielsen, 2009). On the other hand, the sales of PlayStation 3 game console had surpassed the sales of Xbox 360. This phenomenon was observed between October, 2007 and May, 2008. Sony increased the PS3 sales by 40% in 2008 (Sterman et al., 2011). The percentage growth became real without having any price reducing. In brief, there was need for international market entry of Sony products in 2008-2010. However, the regional sales were also important. As of May, 2010, Sony had sold a total of 35.95 million units of its products on a worldwide scale.The company had reached in the United States only the total sales of 6,790,000 copies by January, 2009. The total sales of Sony products in Japan reached a total of 3,093,519 by April, 2009. However, only 5 million copies of the same products were sold in Europe by May 6, 2008.

B. Market Share of PlayStation Game Console

According to Kharpal (2014), Sony had reached a total sale of 10 million of its PlayStation 4, which is widely known as PS4. The trend indicated Sony's claiming a huge market share in comparison to its closest rival, Xbox console from Microsoft. Currently, there is a battle between these two main rivals in the video game market while both of them are trying to outshine each other. However, according to the latest information, Sony is leading in terms of market share compared to Xbox console, a video game console owned by Microsoft (Napach, 2014). Comparing the latest statistics, Sony's PS4 leads in terms of sales against Xbox One. It has counted the total sales of 7 million items of PS4 while Xbox One has managed to attain the total sales of 5 million. According to Sizemore (2014), Sony claims almost half of the “video games consoles,” which comprises of 63% in market share comparing to other brand's consoles. 

Table 1

Depicting List of Market Share of Consoles in Different Market Segments

Console

Units sold worldwide

Units sold to customers in Australia

Units sold to customers in Canada

Units sold to customers in Japan

Units sold to customers in the US

Units sold to customers in Europe

Wii

101.06 million

(as of March 31, 2014)

2 million

(as of October, 2010)

2 million

(as of December 16, 2009)

12.25 million

(as of December, 31, 2013)

39 million
(as of February, 2011)

25 million (as of December, 2010)

PlayStation 3

80 million (as of November, 2013)

1.2 million (as of December 31, 2010)

1.5 million (as of October, 2010)

10 million (as of April, 2010)

15.4 million (as of December, 2010)

14.7 million (as of December, 2010)

Xbox

84 million

1 million
(as of April 20, 2010; including the sales from New Zealand)

870,000
(as of July 31, 2008)

1.5 million
(as of February 28, 2010)

25.4 million
(as of December, 2010)

13.7 million
(as of December, 2010)

Total

261.06 million

4.2 million

4.4 million

24.0 million

79.8 million

53.4 million

 

C. Growth Patterns of PlayStation Game Console

The growth pattern of PlayStation consoles indicates a dwindling situation in terms of sales, mostly in the international market. For instance, there was its sales decrease in the United States. The console sales dropped by 21% in 2012 (Nielsen, 2009). The situation can mostly be attributed to the lackluster nature of the Sony during the crucial holiday periods. The growth pattern gives an indication that “console video games” may soon come to an end. Consequently, the situation may bring the business to a stop in the near future if proper rectification mechanisms would not be implemented. For instance, the sales of PlayStation 3 as well as those of PSP, have already led to a drop of 15% in terms of revenue. According to White (2013), growth patterns of Sony’s video game consoles indicated a sharp fall in sales in a few months. Contrary to the observation, the company had anticipated positive response in terms of expanding its consoles' international market. 

The demand for physical games has continued to drop over the recent past years. Therefore, the trend has a significant effect on Sony products' sales since quite many of them are physical. The sales of Sony's physical games have continued to dwindle (White, 2013). Moreover, there are more ‘casual players’ than there are ‘hardcore players’ of console video games, especially in the international market, for example the American one. Therefore, the dropping of Sony's sales has become more conspicuous than before. 

D. Profitability of PlayStation Game Console

According to Central (2014), video games are one of the areas that have helped Sony to accumulate huge profits. The PlayStation market trend continues to become stronger, thus surpassing its rivals. 3.3 million units of PlayStation 4 video game consoles have been shipped in the international market within a short period of approximately three months (Central, 2014). Some companies, including “Games & Network Services”, have experienced a huge sales increase (Nielsen, 2009). "Games & Network Services" boosted the sales of Sony video game consoles by incredible 84% (Central, 2014). During this period, PlayStation sales' revenue has reached a total of almost £17 billion (Central, 2014). Therefore, the profit margin over the period was £122 million. In addition to this, 800,000 consoles of PlayStation 3 were shipped into the international market (Knight, 2014). Currently, PlayStation 4 is more popular than any other form of video game console. Its sales are two times higher than Xbox's. Sony has sold over 12 million units both locally and internationally (Knight, 2014). Despite the impressive performance, Sony Company has suffered a huge loss estimated at £764 million in next three months. 

E. Current Marketing Programs of Sony

Product Lines of PlayStation Video Game Console. Since the PlayStation appearing in 1994, the product has developed into a number of product lines due to different development methods (Sterman et al., 2011). The game console has four product lines. First, there is the original console referred to as the “Original PlayStation Console” (Sterman et al., 2011).The original product was developed in December, 1994. Later, another product was modified to produce a video game console “PlayStation 2.” The second product was made in 2000. The third product to appear was PlayStation 3, which was produced in 2006. The last “PlayStation Console Video Game” to be released by Sony was called “PlayStation 4”. The series of product lines as well as product mix, that Sony has produced, has become one of the powerhouses in the world of entertainment. 

Pricing of PlayStation Video Games. PlayStation is a video game console that is customer friendly due to the proper pricing of the video games for it. For instance, the game known as “Grand Theft Auto” for PS4 is considered to be the most expensive of all PlayStation games (Sterman et al., 2011). Other expensive games include “Call of duty: Advanced Warfare Day Zero Edition,” which was released for both PS3 and PS4 (Sterman et al., 2011). “Far Cry 4” comes next with a price tag of $33 (Sterman et al., 2011). Despite PlayStation being one of the most popular video consoles, it has used proper pricing in the effort of enticing its customers. The most noticeable aspect is that none of its products is priced above its rivals' cost despite being the preferred choice. 

Promotion of PlayStation Video Game Console. Sony has capitalized on enhancing PlayStation market since it is the only sector to bring profit. Sony uses promotional services, which mainly involve manipulating the prices of different PlayStation games. Determination of pricing depends on the nature of the market niche. PlayStation is a game console that has earned international recognition. Moreover, Sony presents special offers to its customers during such holidays as Christmas, especially for the most popular games like “Batman 3”. Another promotional tactics used by company is including some game bundles when pricing a PlayStation. They retain the same or slightly higher pricing. Such promotional plans have improved the image of PlayStation games. Consequently, it ends up attracting more customers than its rivals. Other video game consoles that present some competition for the company are Wii, PC Games, Wii U, and Nintendo. However, most of these products do not represent stiff competition for PlayStation. They claim very small market share since most of their product lines are considered to be of low quality as compared to PlayStation and Xbox. 

Distribution Pattern of PlayStation Video Game Console. Various series of PlayStation products are distributed in different forms. One of the most common distribution methods is the software use. Apart from it, a bundle of a pair of USB microphones is also included. According to Matthews (2014), the retailers have developed another feature in order to enhance PlayStation distribution. The feature allows filtering of catalogs revealing the PlayStation games' rating. This is an aspect that makes the distributor feel more confident with the PlayStation consoles. 

F. Competitors of PlayStation Video Game Console

Sony does not play in the market alone since the latter is full of rivals. One of the closest rivals is Xbox, which has a series of product lines offering stiff competition to PlayStation. Xbox, just like Microsoft, is a global phenomenon. Nonetheless, its market command is weaker than the one of PlayStation. The recent move by Xbox for adding security codes that does not allow sharing the video game and compulsory subscription paying just to play the video game has tarnished its reputation. PlayStation has identified the move as an opportunity for capitalizing on in order to surpass the Xbox sales. 

G. Pressing Concerns of PlayStation Video Game Console’s Marketing Team

One of the most noticeable aspects that may have a future impact on the PlayStation sales is the plummeting number of customers who prefer online purchasing. According to Peterson (2013), most of Sony’s customers, including the loyal ones, are withdrawing from buying their games online. Therefore, the marketing team is developing other strategies to be used in order to safeguard its market share in the future. One of these strategies is to capitalize on the retailing services, where immediate customers visit PlayStation dealer centers. 

H. Management Objectives of the PlayStation Video Game Console in International Marketing Plan

Sony has changed its marketing tactics whereby it has resulted in changing its marketing plan in order to reduce the distribution costs. Most of its sales have been nose-diving and, consequently, affecting its profits. One of the strategies Sony has embarked on is not distributing its products through the small retail shops. Instead, it distributes the products through the popular channels for interested customers.

2. Foreign Market Analysis

A. Macro Environment of PlayStation Video Game Console

Macroeconomic factors affect the sales of PlayStation across the world. For instance, one of the major factors that have affected its growth is the economic hardships in the world. Consequently, its sales have been influenced as some of the customers deem it luxury. Socio-cultural environment is another issue that has an impact on the products' sales. More companies are emerging offering video games at enticing prices. Therefore, customers are more attracted by the variation in prices rather than the quality of the game. Politics have also continued to affect the sales volume of Sony products. An example of it could be the fact that there are no piracy rules in UK that restrict pirated products' usage. Therefore, the situation enables the majority of UK and other similar countries' population to access pirated video games. Consequently, it affects the Sony's sales. Lackluster nature of Sony Company in changing its mode of products as well as its products themselves has led to constantly dwindling profits. Therefore, some of Sony's customers have shifted their loyalty to its rivals that use advanced technology in the video game industry. 

B. Market Demand of PlayStation Video Game Console

The market demand for the PlayStation Consoles has continued to increase despite stiff competition from the rival companies such as Microsoft. However, most of the customers do not like shopping online. Sony seems to have realized this aspect in advance; hence, it increased outlet channels in order to boost the demand for its products. However, there is an indication that the demand may decrease in the future due to a permanent competition toughening from the rival products. Therefore, Sony is embarking on strategies that will enhance the market conditions of PlayStation in the future. The video games section is the only one that has positive growth in Sony. Therefore, it is a strategic and the most efficient way to enhance its growth in the video game industry.

C. PlayStation Video Game Console Competitors in Japan

Sony Company seems as the sole company in Japan in the entertainment industry. For instance, it has no competition there upon the PlayStation 4 release. According to Byford (2014), the product was launched in the United States three months prior to its release in the home country, Japan. Since its launch in Japan, it has continued to make an impressive performance. Having been a renowned company in the world, Sony experienced almost no competition in the local market. 

D. Nonlocal Competitors of PlayStation Video Game Console

A number of competitors have made an initiative of sourcing market for their video games. One of such companies is Wii. However, Microsoft is reluctant to investing in the Japanese market due to the presence of its main rival, Sony. In brief, there are only few foreign companies willing to invest in the Japanese market. Sony has dominated in its local market; the reason that has proven hard for any company to break through. Therefore, many foreign rivals have found it uncalled for investing in Japanese video game market. 

E. Opportunities for Sony

The increased demand for Sony products in the foreign market is one of the opportunities that Sony has gained. The demand boost has come as a result of better marketing strategies implementing and diversifying the marketing plans. Sony sells products to willing customers both physically and online. Microsoft’s decision to introduce a subscription fee is another opportunity for Sony to have. However, it never followed that path constantly; instead, it stuck to some of its original marketing strategies. 

3. Marketing Strategies

A. SWOT Analysis of PlayStation Video Game Console

The marketing strategies that Sony has embarked on include such methods as exploring how its products can be distributed to customers in the whole world. Some of the strategies that Sony has reviewed in context of SWOT analysis include cost effective reorganization of distribution channels. Proper marketing strategies can be achieved through reviewing operations in a manner that depicts use of SWOT analysis. It is obvious that Sony Company is the leading in terms of selling video game consoles (Sterman et al., 2011). Its closest rival, Xbox from Microsoft, gave it a leading advantage after it used antagonizing marketing strategies. Consequently, most of its customers switched to PlayStation. Therefore, this phenomenon does good to Sony’s management. In order to ensure that it has remained competitive, Sony requires them to set standards and operation goals, for instance, the PlayStation sales doubling within the same time span as the previous one. Moreover, Sony should seek for ensuring that it has captured almost half of the foreign video game market given that it has enough experience in the field. Its role in the field of entertainment is one of its strengths that it should capitalize. Besides, it is consistent in enhancing its video game product lines, which is another strength to be used in order to occupy its rightful market share. It should also capitalize on mistakes done during construction of counter-strategies by its rival companies (e.g. Microsoft). Sony should also take advantage of the PlayStation market thriving for its other products in the product mix to be advertised. Hence, proper strategies applicating has the capability of enabling Sony to claim over a half of the video game console market both domestically and internationally. 

B. Proposed Marketing Strategies 

In order to achieve higher sales, Sony needs to make use of appropriate marketing strategies. There are the needs for proper plans that will help the company to have higher sales. Sony will need to focus on different sub-segments in order to capitalize on the existing opportunities. PlayStation video games are sold both in the local market and in the international one (Sterman et al., 2011). Therefore, Sony needs to focus on different segments considering customers' desires and preferences. Additionally, this strategy will enhance the dominance of Sony in almost all international market segments. For instance, Sony focus less on its local market segment as it has already dominated in Japan. It seems that Sony has monopolized in the Japanese video game console market. Therefore, the focusing on its local market segment would be just resources wasting with later minor results. 

Sony already has a renowned recognition worldwide. It has created market niche in Europe, America, and Australia (Sterman et al., 2011) .In the American market Sony needs to focus on the degree of rivalry for its products. For instance, the Xbox console is owned by Microsoft incorporation, which is an American Company. Therefore, Sony should research on the strengths of PlayStation that makes it more competitive to Xbox in the US . Thereafter, it should concentrate on shadowing most of Microsoft's strengths by either replicating or outshining them. Apart from that, Sony should find out the consumer behavior in America withing the video game industry. It should seek to establish the amendments they prefer and work out  their games modifying. Such a strategy will help double or even triple PlayStation sales. 

Sony should treat Europe as market sub-segment. The fact that Europe does not pose threats to PlayStation in terms of rivalry does not mean that the market is 100 % conducive. There are a number of macroeconomic factors that can threaten success of PlayStation positions. However, Sony can attain dominating in more than half of the entertainment market. Increasing the understanding of PlayStation notion among casual customers can produce desired results. Creation of an appealing image for the casual gamers can also increase its sales in Europe. PlayStation can be made more appealing than before through the elements adjustment of marketing mix. Sony should always counterbalance any feasible drop in the level of PlayStation sales by releasing video games of the next generation. The employment of such mechanisms can produce tremendous effects in terms of increasing the sales of ‘PlayStation Video Game Console’.  

C. Proposed Possible Alternatives and Examination of the Major Sony Competitors

Proper pricing strategy can help to increase the amount of revenue that Sony will gain from the higher PlayStation games' sales. Unlike the other strategies, the price changing is the most conspicuous for many customers. Therefore, any effect in the PlayStation pricing PlayStation will have greater effect on its sales volume. Even the slightest reduction in price will attract many customers to buy PlayStation games. Some of the major competitors such as Xbox and Wii are using the pricing strategy to counter the PS popularity. For instance, most of the Wii games have a lower price tag than those of PlayStation. Consequently, it ends up attracting some PlayStation’s customers. Therefore, Sony should focus more on implementing pricing strategy especially in the sub-segment market level in order to remain relevant for a long time. 

4. Action Plans

A. Product Adjustment

There are some action plans that should be implemented according to the right strategy planning. First, Sony should adjust the PlayStation in order to suit the requirements and standards of different international market sub-segments. Some of its core features should be made more appealing to the target audience. For instance, producing more PlayStation hardware should be encouraged in the sub-segments with the customers preferring it. Branding and labeling have to be done in a proper manner in order to create an appealing image to the customers. Sony should be aware that the alluring packaging of the video games hardware will attract more customers. 

B. Promotional Plans

Sony should be ready to carry out an intensive marketing plan that will attract many customers. That strategy is to remind the main targets and the potential customers' realizing the benefits of the PlayStation purchase. Such sales promotion as adding bonus bundles for the customers who bought any PlayStation game will attract more customers than its rival. Any sales promotion should be targeted at the potential market in order to reduce wastage of resources. However, the areas with huge young population should become the main target as they are the ones who like playing video games, thus potential customers. Targeting young people should be prioritized through an intensive campaign.

C. Pricing Plans

In order to succeed in increasing PlayStation sales, Sony needs to have a proper and efficient pricing mechanism. Therefore, the company should create a constant basic price for its PlayStation games by deleting any additional charges. Such action will win consumers' confidence in Sony products. Sony should embark on introducing promotional prices on regular basis and during special occasions, e.g. Christmas. Price segmentation should be used when Sony want to increase or retain the customers in sub-segment. The company should establish prices selectively in different sub-segment markets. In case a sub-segment has a large number of PlayStation addicts, the product price tag is higher in order to take advantage of the demand. In addition, Sony is not to create a wide margin when pricing different items of the PlayStation product line. Such a move will discourage purchasing some products. 

D. Plans for Distribution Channels

The efficient use of different distribution channels is one of the best strategies that will increase consumer knowledge of PlayStation. Proper distribution will bring the product closer to customers. Sony should employ different modes of distributing the PlayStation video games for the sake of dominating in the worldwide entertainment market. The company should use distributors or wholesalers, reach potentials customers directly via internet, use consultants, retailers, or PlayStation dealers. Moreover, it can use cataloging mode of distribution, sales teams, or manufacturer’s representatives. 

Indirect distribution channels should be discouraged as it will make PlayStation expensive. It should only be used when necessary. Instead, Sony has to encourage use of multiple channel forms of distribution. The method will render any potential customer's freedom of choice in buying PlayStation games. Additionally, the mode of distribution obliterates the unnecessary costs. 

E. Customer Service Strategies

Sony should specialize in introducing its service plans to customers. It should seek for maximizing the efficiency in services delivery to the target consumers. It should select a special team to act as its customer care agents in each market sub-segment. The customer care should be aimed at dealing with any queries that Sony customers may have in order to delete any doubt and win their loyalty and trust. The helpdesk number should assist anybody needing help and be functioning 24 hours a day. With all these methods Sony will create a good support to its PlayStation products. The guarantee should be valid in case any customer needing a refund of any loss he encounters within the given time limit. The strategy will enhance trust of its members, thus making them loyal to Sony products. 

5. Implementation Details

A. Launching of Marketing Plans

Sony should make arrangements before any implementation of the marketing strategies. Adjusting PlayStation product lines should be made when its sales are plummeting. In order to revive its image and increase its sales, an action plan needs to be carried out. In case PlayStation product’s sales are dwindling, an action plan should be taken to control the situation. Adjustments in packaging as well as branding are among actions that will help to redistribute the product in the market. Product adjustment can also be carried out during the time when there is increased competition from rival products such as Wii and Xbox. Any adjustment in PlayStation product will help to outshine the rivals. 

Promotion activities are only valid when Sony is willing to increase its customer base, entering a new market, and wanting to increase its products' competitiveness. For instance, sales promotion introduced to customers during special occasions like Christmas period will boost the sales of PlayStation products. Advertisement such as the awareness creation will generate curiosity among customers in a new market segment. Thus, customers will flock into a Sony outlet upon its official opening. Moreover, in case there is an extension in PlayStation product line, the vigorous awareness campaign is needed in order to entice customers into purchasing. 

Pricing plan is significant when a new product of PlayStation is being introduced in both local and international market. It is also important when sales in designated sub-segments are dwindling. In such instances, different pricing strategies will help Sony to earn normal profit from each of its sub-segments. Moreover, establishing the correct pricing during introduction of a new series of PlayStation products will help to make theoretical assessment of the profit that can be gained from that product. 

Creating of a good distribution channel should only be done when losses are close to occur as a result of middlemen involvement before the PlayStation reaches an end customer. In addition to this, the plan should arise when a market segment is located distantly from Sony's field. In case a market sub-segment is far from the main market, the best channel to use is the multiple one since a customer can access a PlayStation of his choice at the cheapest price. 

The creation of efficient customer services should assist in case there are many complaints from Sony customers appearing. The plan should also be brought in when there is increased rivalry from Xbox, Wii, and other manufacturers. Customer services are meant to enhance loyalty and increase Sony competitiveness. 

B. Bodies Responsible for Implementation of Different Marketing Plans

Product adjustment plan should be carried out by Sony market research team. The team has profound knowledge of the rival products; thus, it is possible to reach the desired results for improving the PlayStation products' nature. Sales and promotional team should implement the thorough planning. The team should decide upon the best advertising methods, promotional activities, and some other aspects to improve PlayStation’s sales. Pricing plan should be carried out by the price control team. They have adequate knowledge on proper pricing of different entertainment products in the market. Distributors should implement the plan to have better distribution channel of PlayStation product line. On the other hand, customer relation team should be working out its own strategy. This team has to be entrusted with delivering services to Sony customers. 

C. Allocation of Resources to Different Marketing Plans

Amount of the resources allocated to the product adjustment planning will depend on the actual activity to be taken. For instance, in case Sony decides to rebrand a PlayStation product, it will have to invest more than in a situation where it only requires out an appealing packaging. Different promotional activities to be implemented will require varying resources allocating. For example, advertising a PlayStation game will require more resources than in sales promotion activity. Pricing planning does not require resources allocating. Nonetheless, the pricing choice made will determine the amount of resources that Sony will spend in order to remain relevant in the market sub-segment. In the case of distribution channel strategy, the direct distribution will require less resources allocating than the indirect one. Customer service strategy needs fewer resources than all others since it involves maintenance of a good customer relationship. 

D. Assessment of Each Marketing Plan

Product adjustment strategies will only be effective when many customers will be willing to purchase the PlayStation products. The customer base increase and profit boost from the sales of PlayStation games will be the denominator in measuring effectiveness of promotional strategies. Increased customer base will reveal the real effectiveness of proper price planning while the reduction in PlayStation games price will indicate that distribution channel strategy is effective. Effectiveness of customer service strategies will appear as a result of increased customer satisfaction. Additionally, a huge number of customers will be willing to purchase Sony’s PlayStation rather than other video game consoles. 

E. Proposed Strategies if Proposed Marketing Plan Objectives are Not Achieved 

In case an action planning or even the whole marketing strategy does not help in achieving the desired results, Sony should create a special review team that will assess what could have been omitted in the initial strategy. A control marketing program should be implemented where references can be made to ensure that the amended marketing strategy is effective. The control program will act as a guide that will represent deviations that were made during developing original marketing plan. 

6. Summary

Despite the ever plummeting revenue of Sony, the company can still rise up again and start operating profitably. Currently, ‘PlayStation video game console’ is the only product that gives positive yield. All the other products in its product mix operate at losses, thus making the future of the company uncertain. Nonetheless, the proper application of marketing strategies can revive Sony and raise the sales level of PlayStation products. Product adjustment is one of the most effective marketing strategies that Sony can exploit. It can opt for carrying out products' rebranding in order to make them more appealing than those of its rivals. Adoption of promotional services and market segmentation are the other strategies that can make Sony product mix more attractive to the target consumers. Briefly, application of proper marketing strategies can revive Sony, making it one of the most successful entertainment companies in the 21st century.

References

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