Marketing Portfolio of Sony Music Entertainment

This report provides an overview of Sony Music Entertainment and its marketplace. It discusses the marketing strategy of Sony Music Entertainment and its competitors. It also explores the strategies for improvement and describes a new and innovative approach for the company. The plan of implementation, recommendations, and outcomes are also discussed.

INDIVIDUAL MARKETING
PORTFOLIO

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Overview of Sony Music Entertainment and its marketplace.....................................................3
Current state of music marketplace and overview of market......................................................3
Marketing strategy of Sony music entertainment........................................................................4
Marketing strategy of its competitors..........................................................................................5
Reason behind chosen strategies..................................................................................................5
TASK 2............................................................................................................................................5
Describing the strategy which company would like to improve..................................................5
Describing new and innovative approach....................................................................................6
Plan of implementation................................................................................................................6
Recommendations........................................................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Marketing portfolio is the theoretical set of investments that included all kind of
resources available in investment universe, with all asset weighted in proportion to their sum
presence in market. The current report is based on Sony music entertainment and its marketing
portfolio. It explain the marketplace of company and more information about their business,
justifies the music marketplace in UK as well as marketing strategy of organization. This study
clarifies the Warner music group marketing strategies as well and explain the improvement of
Sony marketing strategy. Furthermore, it defines the innovative method implement by company
and justifies the plan of implementation along with challenges and possible results which may
affect final outcome.
TASK 1
Overview of Sony Music Entertainment and its marketplace
Sony music entertainment is well recognized as Sony music, it is an American
multinational music empire owned by Sony corporation of American and incorporate as common
partnerships of Sony music holdings Inc, through subsidiary of Japanese empire sony that is
Sony entertainment (Galuszka, 2015). Behind universal music group organization is placed at
second biggest of big three record firms. They own 50 percent of SYCO entertainment, which
managed some of the globe most popular as well as successful reality TV formats, including The
X factor and Got talent. Company set its market position at second number ahead of Warner
Music Group, they adopt different types of marketing strategies in order to reach at their
consumers and increase profitability. Sony announced in 2019, July that Sony music
entertainment and ATV or Sony would merge to become Sony music group. It is world's best
music recorded company with roster of current music artists that includes wider array of
international superstars and local artists as well as big catalogue that comprises most essential
recording in the past.
Current state of music marketplace and overview of market
Music industry is defined as sector representative of companies that record, publish,
market, produce and distribute music. The current state of music marketplace in UK, grow by
more than 2% in 2017. They worth £4.5 billion and contribute to economy, as per view of study
by UK music (Taylor, 2014). The companies measuring music which covers all field of sector,
showed 100 million maximize in 2016. Japan, US, Germany and UK are the nations who have

the largest music industry in the world. In 20108, UK's music sector contributed £5.3 billion to
country economy, recorded music supported £569 million of gross value added, that present 5%
increase on 2017. In 2018, employment in this sector was record 190,935 that helps to improve
living standards of local people.
Music market in UK for recording music is among the biggest music markets worldwide,
ranking fourth after Japan and other countries. Market generate income of almost 690 million
British pounds.
Marketing strategy of Sony music entertainment
Sony music entertainment develop and implement different kinds of marketing strategies
in order to gain competitive advantages more than its competitor that is Warner Music group and
increase its profit margin (Allen, 2018). They broadly spread al around the world, they used
various type of strategy in particular market segmentation in several from other. Due to diversity
in local and national authorities regulation and several economic conditions organization adopt
different marketing strategies that meet effectiveness for all market. Strategies of marketing is
depended on type of situation at hand for each firm, because of this, organization adopt various
kind of marketing strategies that are;
Market dominating strategies-
Sony music entertainment use dominance in music industry since for so long to set up
their marketing strategy (Hartmann-Vareilles, 2017). They have the biggest market share in
globe and in specially US and Japan. As market leader, organization is advanced in promoting
their products which portray their high quality, thus posing higher challenges for their follower
in wide niche.
Porter generic strategies-
Sony music uses porters generic marketing strategy, as reflected much by plan on
extensiveness of strategic chance usage & strategic benefits it increases from wider scale
production of their goods as well as large market it covers. Strategic scope as implemented by
organization is reflected in international market penetration imagine by business that attract
demand from Europe, America, Australia and Africa. As outcomes, strategic market method has
made Sony music have higher competitive benefits and achieve sustainable progress.
Growth strategies-

The analysis of Sony music entertainment advertise of its intensive progress in market
with employing workers over 170,000 worldwide. Company always increase their sales as
compared to 2009 & 2010, they had enhanced in sales of approximately 9% indicated in their
links and websites. The diversification and vertical integration shows of growth market strategy
to popularize Sony as leader in music market, thus wining consumers confidence.
Innovation strategies-
Sony music entertainment portrayed their competency in having the creative marketing
strategy. Organization officially launched Sony Bravia during FIFA organized in 2010, as
satisfactory watch of event at time. More over, the development concept put in place by firm led
to sales escalating particularly in Africa.
Marketing strategy of its competitors
Warner music group is the competitor of Sony music entertainment, they record label
entire in New York city (Burkart, 2014). The marketing strategy of company define its business
strength and growth.
They develop unique goods design, features and name to stand out in competitive market
in world. The pricing strategy of company is focusing on setting list price, payment period and
credit terms. The price skimming strategy of Warner music group clearly communicate of
differentiation basis.
Reason behind chosen strategies
Warner music group chose above marketing strategies in order to achieve their marketing
objectives, they want to hold the position as leader in music industry.
TASK 2
Describing the strategy which company would like to improve
As company uses growth strategies and there is a need to improve this strategy. Such that
by applying Ansoff growth vector matrix, company may use product development in which
Sony Music Entertainment may introduce new product in its existing market so that it will help
to increase the market share and attract wide range of customers as well (Dasgupta and et.al.,
2016). Earlier, company uses intensive growth in the market because it have more than 17000
employees and it uses innovative ideas in order to increase the sales. Therefore, by using product
development under Ansoff growth vector matrix will help the business to improve its growth
strategies and draw attention of many customers.

Describing new and innovative approach
The new and innovative idea for Sony Music Entertainment is to invest in the Events
such that Marathon and sports league in which it may offer T-shirts to the participants so that it
may easily helps to let people know about the company. This new idea will help the business to
grow at new level of success. It is so because, be developing new idea will assist to reach wider
range of public and as a result, it sustain the brand image at international level as well. Moreover,
this new innovative business concept also generate new sources of income as well. On the other
side, by using this as a new and innovative idea will creates a good impression among customers
(Sottocornola and et.al., 2019). As Sony Music Entertainment already invest a lots of money in
the singing reality shows but investing in charities is consider a good method that helps the
business to draw attention of many customers and it is also consider a good marketing strategy as
well.
Plan of implementation
In order to implement the plan in market, Sony Entertainment Music may uses these
steps:
 Build a team who help to generate leads so that company will easily attain the defined
aim and objectives.
 Communicate the plan with all the stakeholders including internal and external
stakeholders so that they will also understand the new concept.
 Build a timeline that will help to specify the deadline in which the aim should be
completed (Fu and et.al., 2019).
 Set-up the dashboards and tracking success that will help the business to determine the
success.
 Keep monitor it and also check the success at regular basis.
Challenges: Lack of collaboration is the biggest challenge which is faced by the
company and as a result, it will affect the overall new idea. Further, if the employees are not
motivated to accept the new change in the company will also affect the overall business and in
turns, the idea will not be implemented. Further, fear of failure will also consider as a challenge
to implement new idea in the Sony Music Entertainment which in turns affect the overall result
of the company (Woods and et.al., 2018). Thus, these challenges will directly creates opposite
impact upon the business and affect the business.

Outcomes: When new innovative idea i.e. to invest in charity event such that Marathon
or any sport league will help the business to draw attention of many customers towards it.
Further, this innovative idea assist to sustain the brand image of company at international level as
well. Moreover, when the new idea is successfully implement in market will help to improve the
process and also increases the efficiency as well. Overall, it leads to improve the profitability as
well. The biggest advantage for introducing new idea for Sony Music Entertainment is to
increase competition and also improve the brand recognition and value which in turn increases
turnover as well.
Opportunity cost: It allow the business to make best decision for the company such that
introducing new business idea will help the business to generate the best results. Further, for
Sony Music Entertainment, when it invest the time and money for this new innovative idea then
it did not invest the same time to its existing business process (Birdi, Leach and Magadley,
2016). Therefore, this opportunity cost also reflect that an individual did not pay attention to two
things in same time but investing in new idea will help the business to generate option for
growth.
Recommendations
Investing in charity event will help the business to develop best growth option. In the
same way, Samsung also invest in Charity Gala in which it contributes around $75 million
charities and also helped more that 2600 schools, hospitals and foundations from 2001 onward.
Therefore, it is clearly analyzed that investing in the welfare of the society will helps to attract
wide range of customers. Further, from the secondary research it is also analyzed that Samsung
also announce the donation to Solar Libre Puerto Rico. In the same way it is also recommended
to Sony Music Entertainment to invest in different charities function so that it will helps to draw
attention of many customers and also increases the brand value of company at international level.
Moreover, the charity studio is another digital studio which is a consulting agency that
mainly focused on helping different non- profit to increase the impact by levering technology in
order to support the organization to increases its reach as well as provide more to their customers
(Dasgupta and et.al., 2016). Therefore, it is observed that by introducing new business idea will
help the business to generate the best option for the growth and in the same way by investing into
different charities function such as Marathon will assist Sony Music Entertainment to raise the
brand image and attract wide range of customers towards it. For instance, Warner Music Group

also invest a lot in the welfare of the company, in turn it will help to attract wide range of
customers. It is examined that, Sony Music Entertainment's rival also uses this similar strategy
and results state that it is fruitful for the business growth. That is why, this strategy is
recommending to the quoted firm in order to generate the brand value.
CONCLUSION
From above analysis, it has been concluded that Sony music entertainment hold second
position in market ahead of its competitors that is Warner music group. With the help of
implementing and adopting marketing strategies according to economic situation organization is
able to gain business objectives easily. Furthermore, by using suitable and appropriate approach
company improve their strategy and make it better than before. By taking essential stages the can
overcome challenges and gain positive results at the end.

REFERENCES
Book and Journals
Allen, P., 2018. Artist management for the music business. Routledge.
Birdi, K., Leach, D. and Magadley, W., 2016. The relationship of individual capabilities and
environmental support with different facets of designers' innovative behavior. Journal of
Product Innovation Management.33(1). pp.19-35.
Burkart, P., 2014. Music in the Cloud and the Digital Sublime. Popular Music and Society.
37(4). pp.393-407.
Dasgupta, P. S. and et.al., 2016. Does drywall installers' innovative idea reduce the ergonomic
exposures of ceiling installation: A field case study. Applied ergonomics. 55. pp.183-193.
Fu, S. and et.al., 2019. Exploring Idea Convergence and Conceptual Combination in Open
Innovative Crowdsourcing from a Cognitive Load Perspective. In 52nd Hawaii
International Conference on System Sciences 2019 (pp. 315-24).
Galuszka, P., 2015. Music aggregators and intermediation of the digital music
market. International Journal of Communication, 9 p.20.
Hartmann-Vareilles, F., 2017, April. Achievements in civil intellectual property enforcement and
recent initiatives within the Digital Single Market Strategy on the regulatory
environment for platforms and online intermediaries. In ERA Forum (Vol. 18, No. 1. pp.
1-6). Springer Berlin Heidelberg.
Sottocornola, G., S. and et.al., 2019. Identifying Innovative Idea Proposals with Topic Models—
A Case Study from SPA Tourism. In Big Data and Innovation in Tourism, Travel, and
Hospitality (pp. 115-133). Springer, Singapore.
Taylor, T.D., 2014. Global pop: World music, world markets. Routledge.
Woods, S. A. and et.al., 2018. Innovative work behavior and personality traits: Examining the
moderating effects of organizational tenure. Journal of Managerial Psychology.33(1).
pp.29-42.