Client and Market Analysis: Evaluating Sony's Marketing Approach

This report provides a comprehensive analysis of Sony's marketing strategies, focusing on client relations and the market environment. It examines Sony's marketing mix, including product, price, place, and promotion, and analyzes how these elements contribute to the company's overall performance. The report also explores the influence of economic, technological, and socio-cultural factors on Sony's marketing efforts. Furthermore, it discusses Sony's revised market offerings, such as waterproof speakers and the optimization of XR Cognitive Process in Bravia XR Oled range, highlighting recent innovations and their impact on the company's market position. The analysis concludes that understanding and adapting to marketing environmental factors are crucial for Sony's long-term sustainability and success in the market. Desklib provides students access to similar solved assignments and study resources.

Clients and Market

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Overview................................................................................................................................1
Marketing Mix of Sony..........................................................................................................1
A Marketing Environmental Analysis....................................................................................2
Revised Market offering.........................................................................................................3
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Over the years, there are a number of marketing factors that are influencing companies
performance level in different ways. In present report, the organisation that has been taken into
consideration is Sony. Also, this report will be considering the information and relation with how
a number of marketing factors affecting Sony's performance level in different ways.
MAIN BODY
Overview
Sony is a multinational business enterprise known for its advance and high tech electronic
gadgets, devices and services. The respective business firm was incorporated in Tokyo, Japan by
the contributions of Kenichiro Yoshida in the year 1946. The company has been successful in
setting up a huge empire for itself in the field of electronics. Currently, Sony can be marked as
one of the most popular, renowned and celebrated business firms in the world.
Marketing Mix of Sony
 Product
Sony facilitates a variety of products and services to its customer set through a series well
defined and organised range. It provides video games, mobiles, play station, music players and
other related consumer electronic products. Along with this, Sony also facilitates electronic
services such as insurance, financial aid, banking services as well as advertising assistance.
According to Burak, P. (2021), Sony’s play station has emerged as a market leader within the
gaming industry all the across the globe.
 Price
Sony constitutes diversified price ranges for each of its products and services in the market
domain. The company has adopted a multi- level approach in order to cater each segment of
market ranking from high income groups to the low income groups. As per the viewpoints of
ŠEINAUSKIENƠ, B., & VIRVILAITƠ, R. (2020), the company excessively depends upon the
strategy of price skimming in order to acquire huge revenue margin in the market industry. For
instance, when a product or service is introduced in the market, the company charges a high price
and gradually skims or decrease the price in order to further elevate the sales and make it
affordable for other segments as well.
 Place
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The products and services are available at Sony’s official stores, online stores and websites.
Also, dealership stores are also capitalised by the company in order to place and distribute the
organizational offerings.
 Promotion
Sony is a competitive business firm which follows aggressive promotional tactics in order to
capture the interest of target consumers and audiences. According to Kosmalski, M. K.
(2020), the company utilizes all forms of promotional media such as online advertisement, Social
media marketing, Television, Content marketing, banners and hoardings, celebrity engagement
and advertisements PR promotion etc. The former mentioned promotional strategies allow Sony
to acquire and attract the attention of millions of customers around the globe in an effective
manner. The promotion mix of Sony concentrated upon the elevation of customer engagement,
retention, brand awareness and market development.
A Marketing Environmental Analysis
According to Sony and Ferguson, (2017), socialization is said to be a crucial process where
individuals specifically enhance their knowledge along with skills that helps them in becoming
more or less able individuals of their own society. In context with Sony,
socializedbehavioursspecifically being learnt and also modified based on a lifetime experience of
an individual.It has been observed that the overall procedure of social learning can be defined as
socialization agents which comes within an individual while purchasing an electronic gadget
offered by Sony. Basically, a socialized agent transmit cognitive and behavioural patterns to the
learner. As per the information given by Sony, (2020),interconnection with other individuals
with the help of mobile, internet or any other gizmos, an individual gains knowledge about a
particular product. This could be understood with a good example of PlayStation game consoles,
where these are compared by consumers of Sony with other rivals of this company and then after
that that takes decisions whether it is worth to purchase or not. This comparison is done based on
different elements like cost, technology which has been utilised by company and so on
(SATRIO, PPRIYANT and NUGRAHA, 2020)
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As mentioned by Jeffery and Mishra, (2017), the Economic forces identify with factors that
influence buyer buying behaviour and patterns of how they like to spend money on a particular
product. For example, Sony ought to never begin sending out to a nation having inspected how
much individuals will have the option to spend. Significant standards are: GDP genuine
development rate, GNI, Import Duty rate and deals charge, Inflation, Unemployment, Disposable
individual pay, and Spending designs. Innovative powers structure a pivotal impact in the Macro
Environment. They identify with factors that make new advancements and subsequently make
new item and market openings for a famous organisation like Sony.
According to Kusumasondjaja, (2018), another crucial marketing factor is technology where it is
said that everyone can consider these days is the improvement of remote correspondence
procedures, cell phones, tablets thus further. This may mean the develop of chances for Sony, yet
keep an eye out: each new innovation replaces a more established one. Along these lines,
advertisers of Sony must watch the innovative climate intently and adjust so as to keep up or
otherwise it is may be possible that, the electronic items offered by Sony will before long be
obsolete, and the organization will miss new item and market openings.
Revised Market offering
In order to meet the current market requirements, Sony has facilitated new additions its product
mix. The respective additions have heightened the technological as well market standards of the
respective firm in a emphasized manner. As per the sources of Press Centre (2021), Sony has
recently launched water proof speakers by facilitating an upscale in its technological
advancements. The respective innovation can considered to be one of kind and has successfully
caught the eye of electronic enthusiasts in a significant manner as well. The optimization of XR
Cognitive Process in the Bravia XR Oled new range can be stated as revolutionary change
facilitated by the firm so as to accelerate the profitability and position of the company.
CONCLUSION
Based on the above mentioned information, it is concluded that marketing environmental factors
plays an important role when it comes to sustain in the market for a longer period of time.
Economic, technology and socio-culture are said to be some of the crucial elements that affected
Sony’s performance in different ways.
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REFERENCES
Books and Journals
Sony, A. and Ferguson, D., 2017. Unlocking consumers’ environmental value orientations and
green lifestyle behaviors. Asia-Pacific Journal of Business Administration.
Sony, M., 2020. Pros and cons of implementing Industry 4.0 for the organizations: a review and
synthesis of evidence. Production & Manufacturing Research, 8(1), pp.244-272.
SATRIO, D., PRIYANTO, S.H. and NUGRAHA, A.K., 2020. Viral Marketing for Cultural
Product: The Role of Emotion and Cultural Awareness to Influence Purchasing Intention. ELIT–
Economic Laboratory for Transition Research Dz. Washingtona 4/5, 16(2), pp.77-91.
Jeffery, M. and Mishra, S., 2017. Sony-FIFA Partnership Marketing Program: The Value of
Sponsorship. Kellogg School of Management Cases.
Kusumasondjaja, S., 2018. The roles of message appeals and orientation on social media brand
communication effectiveness. Asia Pacific Journal of Marketing and Logistics.
ŠEINAUSKIENƠ, B., & VIRVILAITƠ, R. (2020). THE EMPIRICAL RESEARCH OF THE
THEORETICAL FRAMEWORK OF MARKETING MIX STANDARDIZATION AND
ADAPTATION FOR INTERNATIONAL MARKETS. Business Strategies for Economies in
Transition: Book of Readings on CEE Countries, 26.
Burak, P. (2021). Sony and its Most Profitable Division—PlayStation. In Japanese
Management: Market Entry, Crisis and Corporate Growth (pp. 99-111).
Kosmalski, M. K. (2020). Sales management based on the example of Sony in Poland (Doctoral
dissertation, Kolegium Nauk Ekonomicznych i Społecznych w Płocku).
Online Reference
Press Centre, (2021). Available Through: < https://www.sony.co.in/presscentre >
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