Marketing Management: Applying Theory to Consumer TV Preferences

This report delves into consumer behavior concerning the selection of Sony and LG 3D TVs, utilizing established marketing theories to understand consumer preferences. It examines key aspects such as product attributes, consumer insights, and the application of theories like the Motivation Need Theory and Hawkins’s Stern Impulse Theory. The analysis incorporates the 7Ps of the marketing mix for both LG and Sony, evaluating their product, place, price, promotion, people, processes, and physical evidence. Furthermore, the report discusses the value propositions of each brand, highlighting the strengths of Sony's smart picture quality and brand value versus LG's integrated services and modern features. The report concludes by outlining the goals and objectives of each company's marketing mix, emphasizing Sony's aim to establish a competitive edge and LG's focus on capturing the South East Asian market. This student contributed assignment is available on Desklib, a platform offering various study tools for students.

MARKETING MANAGEMENT
NAME OF THE STUDENT:
NAME OF THE UNIVERSITY:

CONSUMER DESCRIPTION STRUCTURED USING MARKETING THEORY
 One of the most important, aspects of marketing understands the decision
on why do the consumers of the different products makes decisions over
that particular product.
 It is very much important to get an idea on why the consumers choose a
particular product over another product. The aim of this particular report is
to get an idea about why the consumers will choose the Sony LED 3D TV
over the preferred LG LED 3D TV.

CONSUMER DESCRIPTION STRUCTURED USING MARKETING THEORY
 The traditional approach or the traditional research paradigm can be used in
this particular example. This includes the concentration on the product
attributes and the basic benefits of the particular product.
 It is seen that the product offered by SONY has a lot of other different
types of advantages including the likes of special Wi-Fi enabled
technologies, smart pictures and many others as such.

KEY INSIGHT REGARDING CONSUMER BEHAVIOR
 Each and every organization has the main focus to keep a tab on the
Consumer behavior and make sure that the organization can fulfill all the
different choices and needs of the consumers.
 It is important for the organization to make sure that the organization can
fulfill all the demands and the choices of the consumers.
 In this particular case the marketing team has seen that the nominated
product though advanced in many different ways like good picture, better
sound and a many other different things, the competitive product of Sony is
liked mostly by the consumers because of the brand reputation of Sony
Bravia Television and its high quality picture and sound.

JUSTIFICATION OF CONSUMER INSIGHT USING THEORY
The generation and use of consumer insight in marketing decisions is not
clearly understood.
The management of LG uses the motivation need theory to be the best in
the business.
The following theory highlights not only on the bringing of awareness to a
particular product through successful form of marketing but also to bring a
certain level of awareness to the product and also establish its place
somewhere in the hierarchy of different needs.
On the other hand the competing product will be conducting their
marketing based on Hawkins’s Stern Impulse theory which will enable the
organization which establishes different types of buying impulses.
 The impulse buying theory will present an ocean of opportunities for the
marketers of Sony.

CONCEPTS FROM MARKETING THEORY AND
EVIDENCE FROM ANALYSIS
 Marketing is a continually evolving discipline and as such can be one of the
particular companies that find themselves left very much behind the
competitions if they stand still for too long.
 A particular example of the following evolution is the fundamental changes
to the basic forms of the marketing mix theories. The companies mentioned
in this particular example use the 7P’s of marketing mix.

CONCEPTS FROM MARKETING THEORY AND
EVIDENCE FROM ANALYSIS
LG 3D TV
 Product- The product is a highly superior category product that fits the modern demands of the
customers.
 Place- The management of LG has made the product available at all the leading market where the
company is operational. Asia has been set as the main target area of the company as the expanding
economy of the Asian market especially the South East Asian countries forms the main market place
of the organization.
 Price- The price of the following television has been set at $1600 on an average in different markets.
 Promotion- The Company has appointed an eminent celebrity to promote the brand on online and
Television medium. Apart from this the company has also used different forms of other mediums to
market and promote the following product.
 People-The sales and the marketing staff of the organization is an important part of the business and
the management of LG has ensured to recruit the most able people from the market.
 Processes- The delivery of the products and the services are done in presence of the customers. This
helps the company to build reputation.
 Physical Evidence- The TV provided by the organization is itself a physical device for the
organization.

CONCEPTS FROM MARKETING THEORY AND
EVIDENCE FROM ANALYSIS
SONY 3D TV
 Product- The following product is a bit superior than that of LG because of some of its superior characteristics.
 Place- Place is another integral aspect of the marketing mix as the product that Sony is trying to offer the target
customer base should be sold from the central part of the cities to attract the target customers. For this particular case
the management of Sony should sell the TV on online platform and apart from that they should sell those products
from Aristocratic showroom and shopping malls
 Price- In accordance with Irvine et al., (2011), the pricing of the TV that is competing LG’s 55 inch 3D HD TV the
management of the business organization should consider on the pricing that LG has kept for their particular product.
For competing in the market he’s not necessary that the management of Sunny should keep their pricing as much as
low they can but they should focus on one thing that the product should be affordable enough for their target
customers in order to experience greater profitability.
 Promotion- For securing profitability and productivity promotional works should be given the highest priority by the
management of Sony. As stated by Murala et al., (2010), in order to compete with LG the management of Sony
should focus on advertising personal selling promotion of sales and Public Relations and as in today’s world the
competition in the market has become fierce. In this particular case the management of Sony should emphasize on
using marketing tools in order to effectively enhance the promotional works of the business organization.
 People-The sales and the marketing staff of the organization is an important part of the business and the management
of SONY has ensured to recruit the most able people from the market.
 Processes- The delivery of the products and the services are done in presence of the customers as well as the services
are provided after the sales which is totally free of cost. This makes Sony one of the most choice able brands.
 Physical Evidence- The TV provided by the organization is itself a physical device for the organization.

VALUE PROPOSITION OF NOMINATED PRODUCT AND JUSTIFICATION
OF VALUE PROPOSITION
LG HD 3D TV is one of the best Televisions in its category and has a great
demand for its superior quality and a large range of modern features. The
value proposition of any product can be determined by three main
characteristics namely;
 How can the product or service solve the problems?
 The advantages of performing business operations with the company over
the different types of the competitors.
 What can be expected if the consumers purchase the products and
services?

VALUE PROPOSITION OF NOMINATED PRODUCT
AND JUSTIFICATION OF VALUE PROPOSITION
The particular Television promises to offer an integrated range
of services that are technically and commercially much more
superior to other televisions in the same range.
This includes the likes of the 3d television features which
enable the screening of modern 3d pictures and videos. Apart
from this the product can also Wi-Fi enabled and can support
computer enabled systems.

SUMMARY TABLE WITH DESCRIPTION OF MARKETING MIX FOR NOMINATED PRODUCT
 Place- The management of LG has made the product available at all the
leading market where the company is operational. Asia has been set as the
main target area of the company as the expanding economy of the Asian
market especially the South East Asian countries forms the main market
place of the organization.
 Product- The product is a 55 inch LED 3D enabled television with
multitasking features that helps the organization to capture a massive
amount of market share.
 Price- The price of the following television has been set at $1600 on an
average in different markets.
 Promotion- The Company has appointed an eminent celebrity to promote
the brand on online and Television medium.

SUMMARY TABLE WITH DESCRIPTION OF MARKETING MIX FOR
NOMINATED PRODUCT
Price- The price of the following television has been
set at $1600 on an average in different markets.
Promotion- The Company has appointed an eminent
celebrity to promote the brand on online and
Television medium.

VALUE PROPOSITION OF COMPETING PRODUCT AND
JUSTIFICATION OF VALUE PROPOSITION
 In the competitive market place of the modern world Sony has created an
unique value proposition of its own.
 The features of the following television is more or less equal in nature to
that of LG but its smart picture quality and capability to support all different
forms of video formats and other types of different formats.
 The different advantages of Sony Bravia 55 inch TV includes the likes of
Wi-Fi enabled services, video support, inbuilt home theatre and most
importantly the brand value of SONY Televisions.

VALUE PROPOSITION OF COMPETING PRODUCT
AND JUSTIFICATION OF VALUE PROPOSITION
The value that is offered by the management of Sony television
is seen to be much more superior and advanced than that of LG
as because the competitive product of the mentioned company
is much more superior than that of LG 55 inch TV.
Therefore Sony can provide good competition to LG in this
category

GOALS AND OBJECTIVES TABLE WITH
DESCRIPTION OF MARKETING MIX
Goals and Objectives of LG TV- The goal of the mentioned
category of Television produced by LG is to capture the South
East Asian Market.
Goals and Objectives of SONY TV- The Goal of the
management of Sony is to overtake other brands of the same
category and establish a competitive edge in the market.

REFERENCES
Murala, J. S., Singappuli, K., Swain, S. K., & Nunn, G. R. (2010). Digital video
recording of congenital heart operations with “surgical eye”. The Annals of
thoracic surgery, 90(4), 1377-1378.
Higgs, B. (2006). Consumers are the new kings of content. Marketing Magazine,
72-73.
Dawson, S. (2009). How Things Work: Thin, Black and Wireless. Connected
Home Australia, (July/Aug 2009), 56.
Irvine, B., Richardson, D., Fear, J., & Denniss, R. (2011). The rise and rise of
online retail. Technical Brief, (8).
Seel, P. B. (2012). Digital television and video. Communication technology update
and fundamentals, 65-82.
Seel, P. B. (2010). Digital TV in 3D: a passing fad or the next step in the evolution
of digital television?. International Journal of Digital Television, 1(3), 309-325.
Young, P. (2013). Assessment of SEAD Global Efficiency Medals for Televisions.