Case Study of Sony Entertainment-Free-Samples-Myassignmenthelp

Question: Discuss about the Case Study of Sony Entertainment. Answer: Introduction Sony PlayStation is a gaming brands which and its parent company Sony Interactive Entertainment. It includes video games with advanced controlling system known as consoles. It can be used with or without internet services. PlayStation 1 was launched in 1994 in Japan and with its success, PlayStation 2; PlayStation 3 and so on was released. Under this essay, Sony PlayStation 4s marketing environment will be discussed in order to launch in the target market for attaining the desired goals and the objectives of the organization (Davies, et. al., 2015). In order to launch the new product, target market is being selected as Australia with reviewing the demand for the PlayStation. PlayStation 4 is launched in the target market with the view to enhance its demand. It includes various innovative and unique features which make the product more effective and efficient in the gaming industry. Microenvironment Customers Sony PlayStation is video game brand and their main customers are the gaming zones, children above 14. Apart from this, interest of playing games in PlayStation is also found in every age group of audience. Sony PlayStation has decided to promote its newly launched product i.e. PlayStation 4 in the Australian market with the view to enhance the demand as well as to attain its desired goals and the objectives (Armstrong, et. al., 2012). Competitors Gaming market in the Australia is bit crowded and lot of companies such as Microsoft Next Xbox, Nintendo Wii U, Valve Steam Box, etc. are engaged in the gaming industry. Due to which Sony Entertainment needs to adopt certain advanced and effective strategies through which organization could be able to fulfil its objectives. Xbox has great features such as designing, screen resolution and it is more compatible for users. Whereas, PlayStation has numerous ranges of games and due to this, Sony has gained the competitive advantage (Brohi, et. al., 2016). Macroenvironment Economic Economic factors play vital role in the process of decision making of customers and their spending. As Sony PlayStation 4 is going to be launched in the Australian market reviewing the purchasing power of Australian people as well as economic conditions of the target market are also in favour for organization which will help them to enhance their market share in the target market. Australian Bureau of Statistics has declared that there is an increase of 1.2% in the weekly earnings of the Australian audience in November 2015 in comparison with the same period in the last year (Tam Clarke, 2015). Thus, these are positive indications for the organization in terms of launching PlayStation 4 in the target market as this will enhance the demand of the newly launched product which will lead to growth and the expansion of the organization in the international market. Technological Technological factors play crucial role in enhancing the demand for certain products. As Sony PlayStation 4 is the part of the technological field, hence; adaptation of advanced techniques is very crucial in terms of enhancing the performance in comparison with its competitors and with its own existing products. PlayStation has advanced techniques such as 8th generation operating system; this gaming console has designed as the slimmest gaming console yet. Along with these features, improvised hardware system and its 4K resolutions are also one of the attractive features of the gaming console which could help the organization to gain competitive advantage in the Australian market. With the change in the time, technology has improved the experience of gaming. This is the reason for immense success of Sony PlayStation series across the globe (Buil, De Chernatony Martnez, 2013). Identification of target market As per the market research conducted, it has been observed that the target market for the Sony PlayStation 4 will be Australia. Following are the components which describe the benefits of the Australian market for the product: Description of target market While selecting the most appropriate market for the particular organization and product, it is necessary to determine the impact of the available factors in the market environment. This helps the organization to develop adequate set of strategies for making the effective position in the target market (Fleming Mixon, 2011). The segmentation process is quite effective and efficient in these circumstances and under-segmentation process, geographic, psychographic, demographic and behavioural are the components of this process which helps the organization to ascertain the most appropriate segment of the market in terms of attaining the goals and the objectives for the organization. Under market research, it was observed that requirement of games and its relevant products are majorly in teenage group as well as in the bachelors. Targeting the customers in relation with the PlayStation 4 will be performed with the help of behavioural segmentation strategy. Under behavioural segmentation, audience is being divided on the basis of their knowledge in relevance with the product, buying behaviour towards the product and showcasing the interest in the products description, etc. Using behavioural segmentation process leads to various variables such as benefit sought user status, user rate, etc. With the help of these features, organization could easily estimate the demand of their product in the target market. Benefit sought is the process of describing the process through perceived value, benefit and the advantage could be gained from the consumers end. As per the interest shown by the consumers, product is being divided into grades category and as per those grades; strategies are being adopted and implemented for promoting and advertising the product in the target market (Freeman, 2010). After identifying the appropriate target segment for the PlayStation, Sony entertainment needs to develop and adopt certain effective promotional and advertisement strategies through which organization could easily enhance its newly launched products demand in the target market. Sony entertainment has adequate brand image worldwide and they can use that tool for promoting their PlayStation in the target market. Apart from the brand image, effective set of promotional and advertisement strategies could also be used for attaining the expected objectives of the organization (Keller, 2010). Positioning Market positioning activity could be performed with the help of available features and specifications with the product such as quality of the product, unique features of the product, the brand value of the product, etc. As Sony PlayStation has attained effective outcomes across the globe, hence; setting their effective position in the competitive market will not be much difficult for the organization. There are certain approaches are available for making the effective position in the target market such as positioning against competitor, positioning with a category, positioning as per the product's benefit, product for the user, etc. (Kotler, et. al., 2015). Under this scenario, Sony Entertainment could use appropriate strategies as per the organizational requirements. Amongst the positioning approaches, Sony Entertainment could use the positioning strategy against the competitor and the positioning approach with a category in the target market. This will help them to enhance the chances of successful launching of the PlayStation 4 in the target market. In terms of gaming products, few companies are available in the same industry through which Sony PlayStation could develop their separate image in the target market. Apart from this, it will also provide the competitive advantage to the organization (Larson, 2011). For instance, Sony Entertainment has highlighted its unique features available for their new product PlayStation 4 in order to achieve the attention from the target market as well as to attaining competitive advantage from its competitors. The organization will be able to promote its products and its features for the purpose of enhancing the brand value of the product. Additionally, Sony Entertainment has used their products unique features for gaining the specific benefit from the launching of the product in the target market. These approaches will help the organization to be unique in the competitive market as well as it will also help them to fulfil expected objectives of the organization (Lefebvre, 2011). Positioning maps are prepared for identifying the customers perceptions towards the buying dimensions of the product amongst the available products. This is generally prepared under competitive market environment. Following is the positioning map for Sony PlayStation 4: From the above positioning map, it can be identified that the X-box and Nintendo are the two primary competitors for PlayStation. While major functionalities are available under Nintendo. Xbox and PlayStation have gained their image in terms of highest games available across the globe rather than any other companys games. Sony Entertainment has gained appropriate image in terms of gaming products through delivering unique experience capability as well as qualitative gaming resolutions are the positive points for the PlayStation. PlayStation 4 has the capability to attract the consumers towards it in comparison with the other gaming products (Moore Doyle, 2010). Conclusion From the aforesaid information, it has been concluded that Sony Entertainment has taken the accurate decision in terms of launching the PlayStation 4 in Australian market. This decision has been taken on various bases such as purchasing power of Australian audiences, curiosity as well as the demand for the PlayStation over there, etc. Under this assessment, relevant environmental factors were discussed in terms of Australian market in order to ascertain their impact on the performance of the Sony PlayStation 4. In order to ascertain the most appropriate and effective market for this product, organization used segmentation strategies and as a result through those strategies, relevant positioning approaches were used for gaining the adequate competitive advantage in the target market as well as to increase the demand of their product. 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