Sony Corporation marketing strategy Research Paper

Sony Corporation marketing strategy - Research Paper Example †¢ At present, the company wants to launch its new product i.e. PlayStation 4 which is the extension of its existing product line †¢ Prior to introducing its new product, the company is required to follow and implement new product development strategy which would facilitate to identify the current market situation, competitors’ performance and changing consumer buying behaviour among others †¢ After analysing marketing mix strategies, it has been observed that the company’s new product possesses a wide variety of innovative features which are quite unique from its competitors, which offer similar kind of products †¢ In terms of pricing strategy, the company will follow the strategies of discounting price, competitive price and psychological pricing in order to attract the target market across the duration from launch to the upcoming five years †¢ Apart from these, the company also would offer trade discounts, seasonal allowances and also offer payment discounts to the consumers who deliver early cash before getting the product †¢ Additionally, the company will adopt certain distribution strategies in order to reach more market coverage for the next five years. Furthermore, it will also adopt certain promotional strategies which would facilitate to increase the sales for the next consecutive five years... Additionally, the company operates under four business segments such as electronics market, game, Motion pictures and music as part of entertainment and financial services. Since the past few years’, the company has continuously attained huge success through its unique business model and by developing effective capabilities that have facilitated the company to deliver innovative products and services as per the market needs (Sony Corporation, 2013). It has been viewed that the company has earned considerable reputation not only in its domestic market but also has attracted international customers through its unique products and services. Moreover, it offers a wide variety of products by emphasising upon different market segments by which the organisation has comprehend the exact needs of the products and services of the target market. Sony delivers electronic products such as LED TV, Smart TV, music system, mobile phones and also various gaming products including PlayStation ( Sony Corporation, 2013). It has been observed that the company has attained core competency particularly in its gaming market segment where it delivers unique gaming experiences along with affordable prices as compared to its rivals. This market segment helps the company to earn huge revenue in the past five fiscal years (Sony Corporation, 2013). The core objective of this study is to present a five year marketing plan for introducing a new product in the gaming segment i.e. PlayStation 4 by considering new product development and marketing mix strategies. Additionally, this discussion also aims to show the company’s new pricing, promotional mix and distribution strategies in order to launch this

Arab economic integration Research Paper Example | Topics and Well Written Essays - 4000 words

Arab economic integration - Research Paper Example All of these aimed at enhancing the economic development of its member states (Hakimian & Nugent, 2005). The Gulf cooperation council member states had a notable difference in regard to the economic growth and also difference in the gross domestic product per capital where Kuwait has the lowest figure of US$ 1000 compared to the United Arab Emirates which has over US$25000 (United Nations, 2009). With these disparities in the level of per capita income the Arab economic integration has to engage in an intra-industry trade and economic activities which is guided by the product differentiation. The reason of choosing this market driven by product differentiation is to gather and accommodate the existing income and GDP differences as well as preference. The major characteristic and influence that has been introduced by the Arab economic integration is the reduction and the elimination of the trade barriers that exist in between the member states, the reduction of the standard trade barr iers include the non tariff barriers and the general costs of real trade (Hakimian & Nugent, 2005). The economic analysis and the evaluation of the Arab economic integration can be taken into account in two different dimensions where the first dimension is about the focus on the goods and services market, this dimension can be used to evaluate and assess the suitability and the desirability in regards as well as the context of the Arab integration. The second dimension comprises the reasoning in terms of the vicious circle; this provides that the idea of Arab economic integration has not been that effective because of the little intra regional trade due to the lack of organized...This paper mainly focuses on initiation of the Arab economic integration, more specifically on the countries, which are active members of the Gulf Cooperation Council. It provides a clear description of the market environment in these countries and the strategies that the governments of the respective membe r states have put into place to enhance the efforts of integration. The paper further focuses on both the major challenges that limit the implementation process and the possible approaches that can be adopted, so as to achieve optimum economic integration among the GCC member states. Regional economic integration among the Arab countries especially for the GCC countries has been a notable phenomenon. Efforts of regional economic integration in these countries started earlier than any other developing region in the world at around 1950s, The Arab states resolved on adopting numerous regional economic agreements that aimed at lifting up trade barriers mainly on preferential basis. These initiatives of economic integration had a significant economic impact on these integrated countries. The studies and analysis of this Arab integration indicated that the slow accomplishment and realization of the integration is due to the low intra-regional trade of goods among the member states. The key challenge in the pursuance of the economic integration by Arab countries is the efforts to establish a common market or a custom union. This has not been made possible due to its implementation nature where it requires agreement and harmonization of policies and regulations between the states. There is a need to establish institutional mechanisms, that will promote regional economic integration, in these counries.