Price, Product, Promotion, and Place

Marketing is the management procedure in which the product or service is moves from concept to the customer. It includes the co-ordination of the 4 P’s of marketing: product, price, placement and promotion. [tutor2u.net]

'Place ' is concerned with various methods of transporting and storing goods, and then making them available for the customer. Getting the right product to the right place at the right time involves the distribution system. The choice of distribution method will depend on a variety of circumstances. It will be more convenient for some manufacturers to sell to wholesalers who then sell to retailers, while others will prefer to sell directly to retailers or customers.

Marketing is the total management procedure via which a product progresses from concept to consumer to satisfy and meet the needs and wants of customers. This involves addressing a number of key matters: what the company is going to produce, how much they are going to charge, how it is going to distribute its products or services to the customer, how it is going to tell its customers about its products and services, how the selling process actually happens, who comes in contact with customers and the layout of interface in which the company and customers interact. These are collectively known as the 7P’s or the marketing mix: product, price, place, promotion, process, people and physical environment.

Sony can also differentiate themselves in the market by employing a consumer-focused positioning strategy. A consumer-focused positioning strategy revolves around consumers. This strategy can be tailor made to the audience by using social media, apps, and other online platforms to engage, access, and directly communicate with consumers (Positioning(marketing), n.d.). Being consumer focused is in line with Sony’s new planning

The process of marketing involves the action of advertising and promoting a company, product or service. This includes everything the customer encounters in relation to the company, from advertisements to customer service experiences. Marketing is often broken down into four sections, known as ‘the four P’s of marketing’.

Sony Corporation is a well diversified company providing many complementary products and services. Not only does Sony offer electronics through its own website, it has a series of online products and services it offers to its users. The PlayStation Network, a part of the Sony Entertainment Network, is one of these many services. Through the PlayStation Network, owners of Sony PlayStation products can play games online with each other. Users can also purchase games and additional items through the PlayStation Network. Credit card information is stored in the network to be used for future purchases. Storing

As per Ian Ruskin Brown and Greg Clark “ Marketing mix is the term used explaining the different elements comprising the offer that the different companies makes to their customers”. (Brown and Clarke, 2000:44). E.Jerome McCarthy in early 1960s came up with the four Ps in the marketing mix. According to him these 4ps are “ Product, price, place and promotion”.( McCarthy and Shapiro 1975: 35). Refer Appendix I for the pictorial representation. But the view of Richard Sandhusen is that the four marketing mixes should be ‘price, product, promotion and distribution’ (Sadhusen, 2000:319). According to Steven Stralser ‘in order to create a marketing strategy and plan that touch all the areas of marketing to position a product, maximise revenue etc a few more components have to be considered which are, Marketing segmentation, Marketing Strategy, Marketing research , Pricing, placement and value chain.’(Stralser,

Product, Price, Place and Promotion also commonly known as the 4P’s are the major factors or tools with which a firm or an organisation operates in the market by offering a superior value proposition to its clients and customers and thus earning value back from them in return to achieve the objectives of its shareholders. These 4P’s are combined together to form the marketing mix of a firm.

“To become a leading global provider of networked consumer electronics, entertainment and services.” That’s the mission of Sony, producer of the Sony Playstation. Sony, information and

Nintendo appears to have implemented a market-penetration pricing strategy. The Wii at a cost of $250 is 50% less than the 20-gigabyte PS3 (smaller hard drive machine). At this lower price, it is easier for the product to penetrate the market due to affordability in most segments. This aligns with the assumed company’s aim of maximising market share in the current and new segments. To achieve this, Nintendo ensured that the Wii was less costly to manufacture. Moreover, a higher sales volume may lead to lower unit costs and higher long run profits. Conversely, Sony is believed to have a market-skimming pricing strategy. The company invested $2 billion in technology, so this strategy aims at recovering the maximum amount of revenue to cover the high costs incurred in the early stages of the product life cycle. Additionally, Sony has a strong brand due to the success of their previous machines (PS2 and playstation) and the high price assists in communicating the image of a superior product with quality.

* In the past game consoles were just for playing games but today they are more than just for playing: surfing in the internet, download pictures and movies, rip music, and watch movies (e.g. Sony’s integrated Blu-ray) past: gaming ; today: gaming and home entertainment systems

Way back then, Sony entered the market originally as a supplier of components for Nintendo Entertainment System (NES) home console. However, when Nintendo failed to introduce new technologies that would improve the gaming experience, Sony grabbed the chance to seize the opportunity. Sony

How much to offer? What price to offer? Where to offer and how to offer? These 4 are the necessary questions to which the business must find an answer and make the decision on it. These 4 P's relate the strategic positioning so that the returns are the maximum in any specified market. The mix is also used to refer to the combination of the media for the promotion such as means of communication and television, newspaper and magazines, advertising on billboards and the Internet.

The PlayStation 3 is a high definition gaming console equipped with a Blu-ray player which is manufactured by Sony computer Entertainment. Sony PlayStation3 uses the newest and greatest technology to appeal to their customers. The PS3 offers the most advanced visuals and audio compared to any other gaming console. According to Brian Moats (2008), the people who are most interested in staying up-to-date with the newest technology are usually men of the ages 15-30. To reach that market, PlayStation 3 makes

I recently entered a sector of the home entertainment market by purchasing a Playstation 3. The Playstation 3(PS3) is Sony Computer Entertainment’s third video game console which competes in the current seventh generation of consoles alongside Microsoft’s Xbox 360 and Nintendo’s Wii.