Marketing Mix is a major concept in modern marketing and involves practically everything that a marketing company can use to influence consumer perception favorably towards its product or services so that consumer and organizational objectives are attained, i.e. Marketing mix is a model of crafting and implementing marketing strategy. In this assignment, I will discuss the major marketing mix variables as classified by Prof. E. Jerome McCarthy which are: i. Product
iii. Place (Distribution)
Throughout the assignment I will prefer to use my reference to Sony Corporation. I will refer to this company how it has diversify its market products, the price range, places for distribution and the promotional strategies they have used to promote their products.
SONY Corporation In Brief
Sony Corporation is a multinational conglomerate corporation headquartered in Tokyo, Japan, and one of the world's largest media conglomerate with revenue of US$88.7 billion (as of 2008) based in Minato, Tokyo. Sony is one of the leading manufacturers of electronics, video, communications, video game consoles and information technology products for the consumer and professional markets. Its name is derived from Sonus, the Greek goddess of sound. Sony Corporation is the electronics business unit and the parent company of the Sony Group, which is engaged in business through its five operating segments—electronics, games, entertainment (motion pictures and music), financial services and other. These make Sony one of the most comprehensive entertainment companies in the world. Sony's principal business operations include Sony Corporation (Sony Electronics in the U.S.), Sony Pictures Entertainment, Sony Computer Entertainment, Sony BMG Music Entertainment, Sony Ericsson and Sony Financial Holdings. As a semiconductor maker, Sony is among the Worldwide Top 20 Semiconductor Sales Leaders. The company's slogan is Sony. Like no other.
The first market mix element is Product. A product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a need or want. Product decision normally base on brand name, Functionality, Styling, Quality, Safety, Packaging, Repairs and Support, Warranty, accessories and Services. These product attributes can be manipulated depending on what the target market wants. Also, customers always look for new and improved things, which is why marketers should improve existing products, develop new ones, and discontinue old ones that are no longer needed or wanted by the customer. Sony has a variety of products ranging from electronic devices, games and entertainment. So, briefly Sony products can be categorized in the following major product categories: i. Television and Projectors: Bravia LCD TV, CRT TV, Home theatre projector, Business Projector, Public Display Panel. ii. Home video: Blue-ray disc player, DVD player, DVD portable player. iii. Home Audio: Hi-Fi Systems, Home audio accessories. E.g. Digital media port. iv. Home Theatre system: DVD Home Theatre System, Home Theatre Component System, Home Theatre System Accessories. v. Digital Photography: Digital SLR, Cybershot Digital Camera, Digital Photo Printer, Digital Photo Frame vi. Hand cam video camera: Handycam high definition video Camera, Handycam Standard Definition Video Camera, Handycam Accessoriesiv, Digital Photo Printer, Digital Photo Frame. vii. Computer Peripherals: VAIO laptops and computers, VAIO accessories, Business Projectorsiv, Memory Stick. viii. Portable Audio: Walkman mp3 series, CD Walkman series, CD/Radio/Cassette player, Radio, Voice recorder, Audio Accessories ix. Game: Playstation 3, Playstation 2, PSP (Playstation Portable) x. In-Car entertainment: Xplod CD receiver, Xplod in car visual, Xplod Cassette receiver, Xplod Amplifier, Xplod Speaker/Subwoofer xi. Mobile phones: Phones, Phone Accessories.
xii. Storage and Recording...
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