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Introduction to Marketing - Using Sony/Sony Ericsson as an example.

Extracts from this document...

Introduction

Report To: Sandra Oku From: Amish Patel Title: Introduction to Marketing Unit: 11 Date: 22/02/2004 I have been requested by Sandra Oku to select a business organisation of my preference. Having selected an organisation, I will then have to choose a product that is about to be launched or has just been launched and will then further choose an additional two products under the same company brand name to investigate. Once having done that, I have been assigned to identify the legal constraints on marketing in relation to my chosen firm and define marketing. Section 1 (P1) Task 1a) I have elected to analyse a company called Sony/Sony-Ericsson which is a global market leader with regard to electronics and the various marketing strategies they apply to the products they manufacture. Moreover, I have opted to examine the Sony-Ericsson "T630" mobile phone which has recently crossed the launch threshold earlier this year in the mobile phone market. The other two products that I will be looking into will be the Sony "MZ N910" Net Minidisc player and the Sony "Playstation 1" games console which are existing products within the company. Marketing Marketing is the approach by which a company primarily strives to expose customer requirements. Marketing provides a long-term understanding of customers continually changing requirements which is usually based on consumer trends concerning their individual specific 'needs' and 'wants'. 'The charted Institute of Marketing' definition of marketing is: "Marketing is the management process that identifies, anticipates and satisfies customer requirements" 1 It is a fundamental idea of marketing that organisations survive and prosper through meeting the needs and wants of customers. This key perspective is commonly known as the marketing concept. The marketing concept is about matching a company's capabilities with customer wants. This matching process takes place in what would be classified as being the marketing environment. The primary concern of marketing is to identify and satisfy, or exceed the changing needs of customers. ...read more.

Middle

Sales Promotion will again be reintroduced to try and give Sony more shelf space over competitors. During the maturity stage of the Sony T610 the predecessor of the T630, Sony had to try and maintain their market lead over their competitors so they extended the product life cycle of the phone. With regard to the market mix and the T610, Sony embarked on the following pivotal decisions; they made changes to the T610 by altering and adding new highly redeveloped features, changing colour, design and renaming it to being the T630. The pricing strategy that Sony should use here should be to resort to penetration pricing or those that are similar to that of their competitors to try and circumvent the possibility of price wars occurring. Penetrative pricing will also enable Sony at this stage to put off likely competitors from entering the market and will allow maximum take-up of the T630. In terms of the promotion used, that should have strong emphasis on differentiation as stated earlier and trying to build brand loyalty through offering incentives to customers such as 'buy the phone, get a 'x' free.' New distribution channels may possibly also be used by Sony to avoid losing shelf space to competitors in terms of market share. Stage 5: Decline This is the final stage of a product in its existence. Sales and profit margins of the Sony T630 will have deteriorated either if the product no longer appeals to consumers' tastes/fashions or if there are more sophisticated mobile phones out on the market - via exhaustive competition. The T630 will have become technologically obsolete. To try and have a chance of remaining in the market, Sony could look into researching and developing the phone through seeking marketing assistance from the R&D department. This way Sony can make any amendments if necessary. If there is little demand or not any at all, then Sony could discontinue manufacturing the product and think of new innovative and original ideas on new phones. ...read more.

Conclusion

Further, Sony's success can be attributed to the establishment of a strong corporate culture in the firm, which allows the goals of the firm to be achieved, as managers have ensured that everyone is able to focus on the overall portrayal of the firm. Sony's integration of marketing approaches is another keystone to the firm's international success, as the simultaneous use of the strategies has allowed the firm to better satisfy customer wants, and in turn better achieve its own goals. This success can be credited, largely, to the role of product marketing in the trade; the manner that 'product is king' has allowed Sony to develop a general path in which the firm is headed. The use of product marketing has resulted in Sony being able to use different methods, such as market research and R&D, to discover the wants of customers, and in turn develop products to satisfy these wants, all of which has enabled Sony to gain sales and become successful, internationally. Product marketing has also allowed Sony to maintain its edge in the electronics market. As Sony's designers are using the market approach to continually develop, improve, and expand upon their products to meet the changing customer needs, this coupled with large-scale promotion of the product, itself, has allowed Sony to sustain its competitive edge over rivals. This approach has also meant that any perceived predicaments with the products can be easily identified and rectified. Finally, the emphasis on product marketing strategies has allowed Sony to develop products which are encompassing the 'technology of tomorrow today' allowing, Sony to uphold its success well into the imminent future. 1 Charted Institute of Marketing. 2 American Marketing Association 6 point marketing plan 3 www.sony-ericsson.com 4 www.gamesinvestor.com 5 www.amazon.co.uk/electronic_devices 6 American Marketing Association 7 www.sony.com/corporate_info/r&dbudget 8 www.sony.com/corporate_info_five_yearsummary 9 Heinemann Book of Higher Business Awards 2002, Dave Needham, ET AL 10 www.mtv.com/musicawards 2003 11 www.carphonewarehouse.co.uk 12 www.carphonewarehouse.co.uk/sony-ericsson/t630 13 http://www.nokia.com/nokia_research/0,,5166,00.html 14 http://www.nokia.com/nokia_research/0,,5166,00.html 15 www.carphonewarehouse.co.uk 16 www.carphonewarehouse.co.uk/sony-ericsson/t630 17 www.sony.com/audio/history 18 http://www.scit.wlv.ac.uk 19 http://www.minidiscplayers.com 20 www.sony.com/corporate_info/five_year_summary 21 www.sony.com/corporate_info/five_year_summary 22 www.vodafone.co.uk/About_Us Amish Patel Sandra Oku 1 ...read more.

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