Price, Product, Promotion, and Place
The Four P’s of Marketing The four P’s of marketing are product, price, place and promotion. Product is a good or a service that is intended for the consumers based upon their wants or needs. Price is the set price on the product. The price will depend on the targeted consumer, the economy, and the location. Place is merely the location in which the company decides to distribute the product. Promotion is the way the company decides to advertise their product to the public. (Griffin, & Ebert, 2003).
Playstation 3 I just recently bought Sony’s Playstation 3. I must say, it is the best $300 ever spent. Not only can I play my video games, but I can also watch both DVDs and BlueRay movies. I also have the ability to play my games online, and order Netflix movies. A bonus is that I do not have to buy a memory card to save any of my games. The PS3 that I own has 160 GB of memory, so a memory card is not necessary. I never participated in the new Playstation 3 craze when it first was introduced, however after seeing all the advertisements, and hearing from my friends how awesome it is, I just had to get one.
Marketing Decision
Product
The PS3 is the most recent Playstation product that Sony has come out with. Playstation itself has come a long way through the years. A product, in order to “survive” the economy, must change with the needs and wants of their consumers. The PS3 has many new features, as opposed to the Playstation and Playstation 2. The first Playstation console only played CD-ROM games, when it was officially released in 1994 (Bellis). My father had the first Playstation, and thought it the best thing that could have ever been released. To keep up with the latest technology of online gaming and DVDs, in October of 2000, Sony came out with the upgraded version of Playstation; the Playstation 2. This upgraded console not only plays the CD-ROM games, but it also plays DVDs, CDs, and the feature of online gaming was introduced. The PS2
Playstation 3 I just recently bought Sony’s Playstation 3. I must say, it is the best $300 ever spent. Not only can I play my video games, but I can also watch both DVDs and BlueRay movies. I also have the ability to play my games online, and order Netflix movies. A bonus is that I do not have to buy a memory card to save any of my games. The PS3 that I own has 160 GB of memory, so a memory card is not necessary. I never participated in the new Playstation 3 craze when it first was introduced, however after seeing all the advertisements, and hearing from my friends how awesome it is, I just had to get one.
Marketing Decision
Product
The PS3 is the most recent Playstation product that Sony has come out with. Playstation itself has come a long way through the years. A product, in order to “survive” the economy, must change with the needs and wants of their consumers. The PS3 has many new features, as opposed to the Playstation and Playstation 2. The first Playstation console only played CD-ROM games, when it was officially released in 1994 (Bellis). My father had the first Playstation, and thought it the best thing that could have ever been released. To keep up with the latest technology of online gaming and DVDs, in October of 2000, Sony came out with the upgraded version of Playstation; the Playstation 2. This upgraded console not only plays the CD-ROM games, but it also plays DVDs, CDs, and the feature of online gaming was introduced. The PS2
References: Bellis, M. (n.d.). History of sony playstation. Retrieved from http://inventors.about.com/library/inventors/bl_playstation.htm Dille, P. (2010, April 5). Sony 's 'it only does everything ' campaign paying off. Retrieved from http://ps3.ign.com/articles/108/1081778p1.html Griffin, R, & Ebert, R. (2003). Business essentials [ed. 8]. (Adobe Digital Editions version), Peckham, M. (2009, August 18). Ps3 slim vs. Xbox 360 price fight. Retrieved from http://www.pcworld.com/article/170411/ps3_slim_vs_Xbox_360_price_fight.html Pricing strategies. (n.d.). Retrieved from http://www.learnmarketing.net/Price.htm Sampei, M, Chang, B, Watanabe, F, Kim, A, Yoshigoe, E, & Joo, Y. (n.d.). Ps3 vs wii. Retrieved from http://are.berkeley.edu/~sberto/wii.pdf Sony playstation 3. (n.d.). Retrieved from http://us.playstation.com/ps3/?SR=nav:playstation:playstation3:overview:ps&ref=http%253A%252F%252Fwww.sony.com%252Findex.php