Assignment:
Purpose
The purpose of assignment is to continue to have students place themselves in the role of a marketing research and planning team leader while completing the last half of the team's project that was started in Week 3. Students will be researching and making decisions on price setting, promotion strategies, environmental forces/scanning, and steps to bringing their company's product from concept to commercialization.
Steps
Scenario: Using the same organization and product/service you used in the Week 3 learning team assignment and the same scenario, you will be presenting the following analyses to the board of directors and stakeholders. They will be using these analyses to make their final decision on how, and if, to launch your company's new and unique product/service.
Develop a 1,050-word analysis addressing the following:
Identify your target market and describe each segmentation (demographic, psychographic, geographic, and behavioral).
Prepare a competitive analysis using either Five Competitive Forces or Blue Ocean Strategy's Strategy Canvas. Demonstrate this by using graphs.
Using the Positioning Statement Generator, provide a positioning statement and demonstrate how your product is positioned against competitors.
Analyze how your company will implement the New-Product Development Process (seven stages) to bring your product/service from concept to commercialization.
Cite a minimum of three peer-reviewed sources.At least one source should be from the course materials and at least one source from the University Library.
You must Format your paper consistent with APA guidelines.
Marketing Strategies for Sony's New Play Station
Sony Interactive entertainment is an American multinational video game and digital entertainment corporation that is devoted to providing digital entertainment to their consumers. It is in Tokyo Japan but has another headquarters in California U.S.A. Founded in 1993 in Tokyo Japan as Sony computer entertainment but ventured into video games. The company operates in the entertainment industry with the main features of the company being to develop video games. The company aims at research and development, production, and sales of both the software and the hardware of the video game systems.
The company's mission statement is to be a firm that provides customers with Kando - to move them emotionally - and inspires and fulfills their curiosity." The company has four main set of values that guide it through the entertainment industry. The company encourages honesty, transparency, and fair dealing with its employees, customers, vendors, and stakeholders. The company is determined to be passionate about what they do. The company is future-oriented in their thinking and stays open to change. The company is devoted to respect the dignity of their employees and encourage diversity of professional background. The four make up the critical values of the entertainment company. The feature that makes the company different from other industry players is that it is a leader in the industry. The company maintains its leadership because of its capacity to innovate things through research and development of products and services. Its products remain far much superior to most companies in the same industry.
The new play station is an amazing new work. The company has invested more in graphics and sound effects of the game making it bigger and better. There is a great story behind the new games in the PlayStation. The art is a fantastic one, and the players can be able to use 3D glasses to enhance visibility and the process. The sound effects are improved to make the players feel like they are part of the game.
We have incorporated the new technology in the game which makes the players feel like they are part of the story. The storyline is great for those who love adventure. It has been part of our research and development to create a game that makes the players a part of the game and feel like a part of the game. There are several sets of games for the play station which creates diversification. The games observe the non-violence policy thus appealing to parents who feel that their kids should not participate in violent oriented games. The games are great in creating the imaginative power of the players. The players are significantly involved in solving puzzles and thus making them more appealing (Anusha, 2016).
The external factors affect all organizations. These factors include Politics, Economic, Social, Technological Legal, and Environmental factors (Ryan, 2016). The company's will impact these factors directly or indirectly. However, the game affects the political, social, and technological factors. The organization and the company need a strategy to overcome them. Games have always attracted political speculation and some people blame real life violence on video game violence. To enhance the customer experience, the company has put these factors into focus and eliminated the problems that are related to them. The panel of developers focused on games that are less action packed. The focus was to create more family-oriented games, so parents feel more at ease. The games are set in a manner that the players can take breaks by pausing or saving then quitting whatever they are playing (Kerin & Hartley, 2017).
The technological factors are the most impacted by the fact that the company is using this kind of technology for the first time. We compete with other companies for the best systems and gaming experiences. Sony continues to research and develop gaming experiences that continue to shock the gaming era. Sony employees next-generation technology which makes the game complex and more exciting to the players. The social factor is the game have been made more interactive where a group of individuals can participate in a single game and be able to compete in teams or in single person competition.
SWOT analysis.
The new play station has several strengths that make it outstanding. Incorporating the latest technology making the games high tech and participatory. The non-violent nature of some games brings in the aspect of safety, plus attracting a niche market which is nonviolent. We have not figured the weaknesses of the Play Station with the trials that have been conducted in the past three months. The small mistakes that were experienced were rectified making the game more stable. The new play station provides an opportunity to the consumer fraternity to contribute to developing future games that are more appealing and satisfying. The entertainment industry is complicated and the way to understand it is by making it more customer oriented. This means interacting with customers and allowing them to participate in the games. The industry dynamics are the biggest threat to the new play station. The industry is flooded with new firms and introducing this technology exposes us to compete. The fear is that game designers might steal the ideas and the technology and make it better which increases competition. The Sony company and PlayStation series will need to keep working to stay ahead of their competitors.
Strengths
Use of next-generation technology.
Allows gamers to be a part of the team.
Non-violent games targeting a niche.
Weaknesses
Multiple people gaming via online will cause delays and glitches in the network servers.
Opportunities
Gamers can imerse themselves into the actual games thanks to the virtual reality technology.
The ability to play on or offline.
Threats
Competition from other systems and players in the industry.
Improved systems will eventually take over the gaming industry.
SWOT Analysis template
The new games and upcoming systems will provide players with a unique gaming experience. The Sony PlayStation industry persuades gamers with free trials to attract them to their system playing. It will provide them with a taste of what to expect in the new play station. As the game navigates the market in the next few months, our engineering team will be working to identify opportunities created by the game and handling threats. The plan is to work with clients as much as possible giving incentives to join their gaming industry. The marketing team is arranging a world tour to market their company for all generations of players. Competitions are held around the world which will involve grand prizes involving currency. Finally, we will engage in social work in 12 countries which is our way of giving back to the society (Taken Smith, 2012).