Market Research and Digital Marketing Strategies

This solved assignment focuses on the importance of market analysis for organizational success and explores various digital marketing strategies. It highlights the effectiveness of group work in conducting a comprehensive market study and analyzes Sony's PlayStation launch as a successful example. The document delves into the principles of marketing and communication in the digital world, emphasizing the collaborative effort involved in deriving conclusions.

Principles of Marketing

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK...............................................................................................................................................1
PRODUCT DESCRIPTION.......................................................................................................1
MARKET ANALYSIS...............................................................................................................2
SEGMENTATION, TARGETTING AND POSITIONING......................................................2
MARKETING MIX....................................................................................................................3
INDIVIDUAL REFLECTION........................................................................................................4
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Marketing is not a simple and single topic on which whole consideration is based on.
There are various principles of marketing lead to determine which enables and made things
proper and appropriate in nature. The basic principles of marketing reflect about the analysis and
utilisation of marketing mix in an appropriate and suitable manner. This project is based on Sony
play stations which create and take out a revolutionary consideration in the environment of
technology. Thus, Sony wants to bring out more new and appropriate product in the business
environment which enables in generating more and more profit and revenue as well. For this
aspect, individual reflection will support in deriving about project what things went well or what
are not by using principles of marketing and communication in digital world.
TASK
PRODUCT DESCRIPTION
To maintain sustainability at marketplace, it is required for an organisation to launch new
product or modify existing items. This will help to gain maximum share in market and this
enables firm in improvisation of profits. PlayStation 4 is considered as a eighth generation video
game which is developed by Sony. People will charge PS4's controller when it is on standby
mode. Along with, controller has share button so that individuals will easily share this on social
media.
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MARKET ANALYSIS
PlayStation 4 is upgraded version of ps3 which help to capture attention of numerous
people towards it. It is much demanding amongst persons due to its innovative design and tools.
There are many competitors of ps4 and this will comprise Microsoft 'Next' box, Apple and iOS,
Valve Steam Box and so on. In recent era, people PlayStation 4 is capturing market attention
which will help Sony in improvisation of their profits and market share. The major of the
PlayStation 4 is that it will run out of space so that it is required for company to improve its
space.
SEGMENTATION, TARGETTING AND POSITIONING
Segmentation: Organisation will divide market as per needs and wants of people because
this will aid them to accomplish each desires. They will divide market as per geography,
demographic or psychographic. Therefore, firm will be able to fulfil needs of people and alter
products according to their demands as well.
Targetting: Basically, firm target youngsters for their product because PlayStations are
highly demanding by those people. They have much knowledge regarding new methods and
tools. Along with, they always want to go with the trends; thus, firm target them for goods and
services.
Positioning: Brand image of an association is much effective and this will help them to
take benefits from rivals at marketplace. Additionally, quality and price of PlayStation 4 is
affordable so that individuals will easily buy this.
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MARKETING MIX
Product: PS4 is much effective which will gain attention of numerous persons. Along
with, packing is done in an innovative manner so that persons will get attracted towards them.
Price: Company is using an effective pricing strategy which help them to take benefits
from rivals at marketplace. It has been analysed that value of items are affordable; thus, people
will easily buy them.
Promotion: Manager of Sony use many kinds of tools or methods for marketing of goods
and services. For above stated aim, many techniques are using by superior, such as social sites,
print media, advertisement and many others. As a result, firm will easily improve profits as well
as market share.
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Place: People will purchase PlayStation 4 from the store of Sony. It is also available
online because many places they are not having their outlets. It will help to fulfil requirements of
each clients.
INDIVIDUAL REFLECTION
There are various considerations have align with the project which need to assess for each
and every individual properly. In this group presentation various elements and aspects lead to get
describe properly so that better and effective judgement as well as understanding could be
promoted. This reflection is based on a topic of principles of marketing and communication in
digital world. This process suppose to get done on Play Station 4 – Sony which create and derive
a revolutionary environment in the field of digitalisation. Thus, this report will includes about the
opinion and thoughts of mine which lead to describe about the project consideration properly. As
it will includes about the aspects which used to went well or things which are not. It will also
going to depict about the contribution of mine and others which used to present and get identify
with this reflection.
Following are the things which I faced and signify as better and appropriate elements of
subject matter which went went. It is a group task where team working play an important and
considerable role. For this aspect, we used to interpret and utilise the Tuckman team working
model. Tuckman model support us to understand each other properly which facilitate
coordination and cooperation feeling. This aspect enables me to understand the various kinds of
individual properly as well as their behaviour. This will assist me to gain and determine a mutual
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understanding factors among us. Along with this, each and every individual contributing
properly where they dedicatedly analyse the market. We all move towards positive direction by
framing out a single goal and target which made us motivated. Thus, this consideration allow me
and made me to work towards a define target. This leads to improve my goal orientation
capacity. Henceforth, in near future my target orientation working abilities and capacity become
highly considerable.
But there are several things lead to arise which not went well properly and create
possibility of conflicts and confusion. A group presentation define about various arguments
among various group individuals. Out of use some of them are short temper whom lose out their
patience at several point of course while arguing on a single topic. Miscommunication
sometimes arise between us which restrict in made things proper and absolute. Thus, I need to
work on the aspect of miscommunication as it not reflect positive attribute at the time of group
working. This consideration required to improve in define framework so that better and
appropriate assessment of working suppose to get done in better manner. For this situation, two
of my partners did not share a typical comprehension of what was normal from them or what
they were in charge of. For me, this was altogether enthusiastic and spoke to an extraordinary
battle, as an effective clash influenced the whole gathering and the absence of attachment made
me befuddled and disappointed. So as to keep away from this, I have actualized group rules,
where coordinated effort and sharing must be produced. Thus, this aspect not went well properly
which need to work upon and required to get modify and change or alter properly so that suitable
results could be derive in better and definite manner.
To deal with such consideration we not only use the Tuckman model of team working but
also utilise the GPRI model of team effectiveness which facilitate us to reduce the chances of
conflicts and made each and every individual contribution appropriate in nature (6 Different
Team Effectiveness Models to Understand Your Team Better, 2018). For this aspect, we define
the goal to each other by taking mutual understanding. Goal enables and facilitate us to work
towards positive and appropriate direction so that effectiveness and efficiency could be maintain
and manage. On the next level, we all divide the work among us. This enable and support in
secure the time and money which used to carried down and take place when things not get
planned and define goals properly as well. Moreover, for market analysis and marketing mix
determination we used simple process. As we underpin various books, journal articles, news
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paper etc. to evaluate various considerations properly. This lead to bring out positive working.
We create base of all decisions provided by team members and conclude a best one to interpret it
and utilise it properly. In the end of all major consideration, better working interrelationship
could be manage and frame among us. This suppose to provide flexibility in operations as well
as number of issues and problems lead to get minimise.
Every person contribute their best while doing this study. Their contribution needs to get
appreciated properly and neither to get neglect. My group presentation partners were best in
organising a market study properly as they have potential to interpret the books and journals
properly as well as to analyse the data in a define and suitable manner. Some authors prescribe
that group working support in determine the best outcome and manage things properly. In this
relation, management required to work in definite and appropriate manner for deriving
effectiveness and efficiency. By opting GPRI model of team effectiveness we diagnose the issues
arise at the time of working so that better and appropriate team lead to formulate.
Principles of marketings and communication in digital world conclusion derivation is not
a single person work of mine as it includes all respective team members efforts. They derive the
revolution which used to start by the Sony by launching their play station which enables and
support to attract wide number of customers especially children or teenagers.
CONCLUSION
From above presentation it has been concluded that organisation has to analyse their
market so that they will be able to accomplish their desires on time. Marketing mix will be
evaluated by them to take benefits from rivals.
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REFERENCES
Books and Journals
Eaves, M. and Leathers, D. G., 2017. Successful nonverbal communication: Principles and
applications. Routledge.
French, J. and Russell-Bennett, R., 2015. A hierarchical model of social marketing. Journal of
Social Marketing. 5(2). pp.139-159.
Friedman, A. L. and et. al., 2016. Health communication and social marketing campaigns for
sexually transmitted disease prevention and control: What is the evidence of their
effectiveness?. Sexually transmitted diseases. 43(2S). pp.S83-S101.
Kumar, V., 2015. Evolution of marketing as a discipline: What has happened and what to look
out for. Journal of Marketing. 79(1). pp.1-9.
Lidstone, J. and MacLennan, J., 2017. Marketing planning for the pharmaceutical industry.
Routledge.
Nowak, G. J. and et. al., 2015. Addressing vaccine hesitancy: the potential value of commercial
and social marketing principles and practices. Vaccine. 33(34). pp.4204-4211.
Serrat, O., 2017. The future of social marketing. In Knowledge solutions (pp. 119-128). Springer,
Singapore.
Villeneuve, J. P. and Pasquier, M., 2017. Marketing management and communications in the
public sector. Routledge.
Online
6 Different Team Effectiveness Models to Understand Your Team Better. 2018. [Online].
Available through :<https://www.wrike.com/blog/6-different-team-effectiveness-
models/>.
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