Principles of Marketing: PlayStation 4 Analysis Report

This report provides a comprehensive marketing analysis of the PlayStation 4 (PS4), examining key marketing principles. It begins with a product description, highlighting the PS4's features and benefits. The report then delves into market analysis, assessing the competitive landscape and the PS4's position within the gaming industry. Segmentation, targeting, and positioning strategies are explored, identifying the PS4's target audience and how it is positioned in the market. The marketing mix, including product, price, promotion, and place, is analyzed to understand Sony's approach. An individual reflection section discusses the application of marketing principles and team dynamics. The report concludes by summarizing the key findings and providing a list of references, offering a detailed understanding of the PS4's marketing strategies.

Principles of Marketing

Table of Contents
INTRODUCTION ..........................................................................................................................1
MAIN BODY ..................................................................................................................................1
PRODUCT DESCRIPTION..................................................................................................1
MARKET ANALYSIS .........................................................................................................1
SEGMENTATION, TARGETTING AND POSITIONING ................................................2
Marketing Mix : .....................................................................................................................2
INDIVIDUAL REFLECTION ......................................................................................................3
CONCLUSION .............................................................................................................................4
REFERENCES ...............................................................................................................................6
.........................................................................................................................................................6

INTRODUCTION
Marketing can be considered as an essential element of each business organisation. this
helps in analysing the customers and target marketing in respect to formulate strategies which are
essential in creating brand awareness, making offers, cross promotion and transform viewers into
ongoing buyers and clients. Marketing principles also plays effective role in analysing the market
situation and produce goods and services as per the choice and preferences of customers. The
present report is based on the play station 4 Sony which considered to be an essential element of
technological environment. The report contents the study about product description,
segmentation, targeting , positioning and marketing mix. In this individual reflection will support
in providing a brief discussion about the project that what things went good or what are not
through applying the principles of marketing and communication in digital world.
MAIN BODY
PRODUCT DESCRIPTION
Product description can be considered as an essential element of marketing which helps
in describing the features or benefits of a products to their buyers. The major purpose of product
description is to provide appropriate information about the product to their significant customers
in respect to creating awareness about the product or service. In this modern era organisations are
concern on introducing new and innovative products at market place. Emergence of new
products are beneficial for organisational growth and success. As a large business enterprises
Sony introduced a eighth generation video game which is known as Play Station 4 in respect to
gaining attention of customers through providing the proper description about the innovative
product at market place. PS4's various essential features such as it can controlled on stand by
mode and it also has a share button through which people can easily share this on social media.
MARKET ANALYSIS
Market analysis can consist to be qualitative and quantitative assessment of a market.
Market analysis allows organisations to evaluate the suitability of market for a particular industry
or product. This also plays effective role in analysing the current market situation or looking for
a new market in respect to introducing a new product at market place. Play station 4 is the most
upgraded version of play station 3 which considered to be a most popular product of Sony and
helps in gaining the attention of large number of people towards the firm or its offered products
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and services. PS4 is the most innovative product of Sony and there competitors are focused on
produces product which are having similar features like PS4 such as Apple iOS, valve steam
box, Microsoft 'Next Box' etc. Play station 4 is the most entertaining products of Sony which
helps in enhancing the performance and productivity of firm.
SEGMENTATION, TARGETTING AND POSITIONING
Segmentation: It is the most essential term of marketing. segmentation helps in aggregating the
prospective of consumers into various groups or segments that are having some common needs
and wants. Organisation are concern on categorising the market as per the different needs and
wants of people. In this market are segmented as per the demographic, geographic and
psychographic aspects. With the help of market segmentation organizations are able to satisfying
the needs and wants of people at market place.
Targetting: A target market can be described as the market in which a business organisation
wants to sell its goods and services in respect to developing the productivity and performance of
firm. Sony mainly targets teenagers and youngsters in order to developing organisational growth
as people from this age group are attracted towards the products such as PS4.
Positioning: It can be considered as an effort to influence the perception and choice of customers
towards a product and brand. The basic purpose of positioning is to capture and occupy a clear,
advantages and unique position in the mind set of people. In this modern and competitive era
organisations are concern on creating awareness about the products in respect to creating
effective image about the brand in the mind set of people. This also create value in attaining
higher position at market place and provide competition to their competitors. Sony positioned its
most popular product Play Station 4 in affordable prices so that people can easily buy them and
taking benefits of its features.
Marketing Mix : Product: This is the most essential element of marketing mix which plays effective role
in gaining attention of people towards the offered goods and services. PS4 is the most
innovative product of Sony which considered to be a most profitable product of firm. Price: Sony is applying mix pricing strategy in order to satisfying the needs and wants of
people at market place. Effective pricing strategy helps in providing high competition to
their rivals through offering goods and services in affordable prices.
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 Promotion: As a large business enterprises company is having a good image at market
place and its is required for firm to maintain its effective image in the mind set of people.
The manager and higher authority of Sony concern on applying various advertising tools
and technologies such as advertising, public relation, direct marketing, sales promotion
and personal selling.
 Place: The company offers its variety of products and service at market place and
delivering them through the Sony stores, authorized sellers and official websites. The
company is concern on satisfying the needs and wants of people through providing them
goods as per their request.
INDIVIDUAL REFLECTION
The present report is based on the principles of marketing which plays essential role in
growth and development of firm at market place. In this modern scenario organisations are
concern on satisfying the needs and wants of customers through offering them variety of goods
and services. In the modern era people are very much concern towards the quality of product
rather than the price. In the world full of digitalisation people are concern towards applying
various digital equipments in respect to making humans life more easy and comfortable. In the
present report Play Station 4 is the chosen
There are different factors which I faced and these were better elements which are linked
with the subject matter through which I was able to complete the operations. It is related with
group working where all the members of the organisation plays an important role in order to
achieve effectiveness in their business activities. In order to achieve success the data were
interpreted and analysed with the help of Tuckman team employed model. This model is
beneficial in order to support the opinion of all the team members by ensuring cooperation and
coordination among all the workers. Tuckman's model is the most effective model for team
development which plays essential role in growth and development of an organisation.
Employees consist to be an essential part of each business firm and their contribution is
beneficial for firm or its growth. Employees are the essential key who are contributing their vast
efforts in enhancing organisational performance and productivity. We all are having some
descried goals and objectives which are needs to be accomplished by us through moving towards
right direction. The Tuckman model has involved various elements such as forming, storming,
norming, performing and adjourning, these all are essential in motivating people towards
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attaining their desired goals and objectives. Selected goals and objectives are helpful in
enhancing my motivation towards moving towards right direction with passion. In the modern
scenario people are very much concern towards the digital tools and technologies so each small
as well as large business enterprises are focused on producing more innovative and highly
featured goods in respect to gaining attention of people towards the offered goods and services.
Organisations are concern on implementation an effective communication channel as to
establishing effective communication among all the departments of firm as to carry out all
business and its operations in right direction. In the recent scenario organisations are focused on
expansing their business and its activities through producing new and innovative products at
market place.
GPRI model of team effectiveness facilitate a firm to reduce conflicts between workers. It
helps in maintaining equality among employees by feeling them equally important as an
individual level. With this assistance, we have to define goals and objectives of company to
members by mutual understanding. Setting a goal enables us to work in positive manner by
providing appropriate direction. This would help us in maintaining and managing the
effectiveness and efficiencies. For much effectiveness, we should distribute and divide the work
among all persons. It enables and supports us to make work easy and secure the time. It also
helps in reducing cost which is used in carrying down the operations. Cost ineffectiveness mostly
take place when things are not get planned as well as goals are not defined in a proper manner as
well. For further process, we need analysis market and marketing mix determination using
books, journals, articles, magazines, news paper and social sites. This would help in evaluating
various considerations also which generate positive working environment. Therefore, regarding
with this procedure, we create base of all decisions by consulting with associated members. We
also conclude the best one by interpreting and utilising the same properly. In last context, we
should consider the effective working relationship and could be managed and framed
accordingly. These process helps in providing flexibility in operations and resolving the number
of issues and problems as well.
CONCLUSION
As per the above mentioned report it has been concluded that marketing can be
considered as a vast concept which plays essential role in enhancing growth and success of firm.
It is the major responsibility of organisations or its higher authority of firm to analyse the market
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in order to introducing new and innovative product at market place. Marketing mix is a most
essential element of marketing which plays effective introducing new and innovative e products
at market place which create value in improvising the growth and success of firm.
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REFERENCES
Books and Journals
French, J. and Blair-Stevens, C., 2010. Key concepts and principles of social marketing (pp. 29-
44). Oxford: Oxford University Press.
Barr, C., 2011. Principles and practice of sport management. Jones & Bartlett Publishers.
Rusinko, C. A., 2010. Integrating sustainability in management and business education: A matrix
approach. Academy of Management Learning & Education. 9(3). pp.507-519.
Stromback, J. and Kiousis, S. eds., 2011. Political public relations: Principles and applications.
Taylor & Francis.
Muñoz, C. L., 2012. More than just Wikipedia: Creating a collaborative research library using a
Wiki. Marketing Education Review. 22(1). pp.21-26.
Roberts, S. D., Dant, R. P. and Lim, C. L., 2015. ‘Needs’ and ‘Wants’ in Marketing Literature:
Pedagogical Difficulties. InProceedings of the 1990 Academy of Marketing Science
(AMS) Annual Conference (pp. 264-268). Springer, Cham.
Shaw, S., 2016. Airline marketing and management. Routledge.
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