Marketing Principles Report: PlayStation 4 Product Marketing Strategy

This report provides a comprehensive analysis of the marketing principles applied to the PlayStation 4 (PS4) by Sony. It begins with an introduction to the importance of marketing in business, emphasizing its role in understanding customers and formulating effective strategies. The report then del...Read More

Principles or Marketing

Table of Content
• Introduction
• Product Description
• Market Analysis
• Segmenting, Targeting and Positioning
• Marketing mix
• Conclusion
• References

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.

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.

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 and services.

SEGMENTATION, TARGETTING AND
POSITIONING
• Segmentation
• Targetting
• Positioning

Segmenting
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.

Targeting
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
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
There are various elements which are involved in marketing mix in
which some are described as below:
• Product
• Price
• Place
• Promotion

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 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.

References
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.