Marketing Strategy for Sony Free Samples †MyAssignmenthelp.com

Question: Discuss about the Marketing Strategy for Sony. Answer: Marketing Strategy for Sony involves steps to attain future competitive position for achievement of goals of the company(Samiee 2010). Marketing strategy allows for creation of sustainable competitive advantage. It involves analysis of the current position of the company and then determining future course of action. Demographic Target Penetration: Sony manufactures products that cater to varied types of demographic group. Its market segment comprises of retail category and it plans to expand it further for womens market. Sony has analysed that women sales can contribute to 80% of purchase decisions made and over half the sales made. Designing promotional strategies to attract women will help the Company broaden market scope. Differentiation: Another marketing strategy that has been used by Sony is related to differentiation strategy. Sony expends huge amounts towards research and development activities, which are bent on innovation. Its innovativeness in consumer electronic goods especially television has made the Company market leader in the segment. High quality picture and sound of its television has made it market leader. Its innovative endeavors are focused on building a brand with high quality, convenient and unique in nature. Pricing Strategy: While introducing its product in the market Sony, keeps price at higher levels and then generally lowers it later. Market skimming pricing method, product bundle pricing and product line pricing methods are used by Sony. Prices are set by the Company based on features of the product that are accompanied along with it. It offer discounts for various sales promotions during peak seasons to attract more customers. It provides discount during sports season, seasonal discounts, Christmas and during other period. Customer Relationship Management (CRM): Sony continuously communicates with customers by means of personal communication. The Company takes feedback from its customers that forms basis of market research. These feedbacks allow development of marketing strategy. The Company welcomes feedback, suggestions and ideas from customers, which are then sent across to the product development team(Berthon 2012). This has highly affected its marketing endeavors as the process of marketing is seen to be a continuous effort. Incorporation of E-business: Sony wants to communicate continuously with its customers; in order to achieve this it has adopted e-business. Through e-business it maintains steady communication with its resellers, corporate and retail customers and other businesses. This has allowed to maintain steady link with suppliers and stores. Customers can obtain any information related to Sonys product such as purchasing to downloading of drivers. This extended features of e-business has allowed Sony to market its products readily. Social Awareness Program: Sony has been participating in various social programs that has allowed effective management related to customer relationship management (CRM). Social awareness program of Sony has enhanced its brand name and increased brand loyalty, which is a crucial component of marketing strategy. References Berthon, P.R., Pitt, L.F., Plangger, K. and Shapiro, D., 2012. Marketing meets Web 2.0, social media, and creative consumers: Implications for international marketing strategy.Business horizons,55(3), pp.261-271. Samiee, S., 2010. Advancing the country image constructa commentary essay.Journal of Business Research,63(4), pp.442-445.