Elements of the marketing differ from one company to another because if several factors within the organizational structures for example policies and even objectives. Marketing mix for manufacturing and service industries are not the same because operations differ greatly. Each organization has a completely different set of targets to meet using varied methods and procedures. There are common marketing mix elements that are global and are apply to almost all sectors within an economy. The elements are product, place, promotion, and price. Each of them affects business activities extensively. Prudent business people will tend to get the right product to the right place at the right time and at the right price. This slogan says all about marketing mix elements.
Marketing mix for manufacturing companies such as Sony seems to have an approach, which has more detail towards successful business. The mix has product planning which covers aspects to do with polices and product procedures. Pricing and branding are other elements, which make up their mix. However, channels of distribution close the list of marketing mix elements. Sony Corporation is the leading manufacturer of electronic goods and other related products. This company employs technology and innovation in its products. Consumers will never say no to Sony products because they meet international quality standards.
Sony Company falls under entertainment product selling entity. Consumers and users enjoy the products of Sony because this company produces a number of best selling products. As part of the product mix, this company deals in audio, video, televisions, information and computers, semiconductors for example LCD, games and play station and motion pictures. As part of the marketing strategy, this company ensures that consumers get full satisfaction from its wide range of products in various stores and other leading outlets across the world. This company provides seasonal products so that consumers will never choose any other product around the market. On issues of quality, many people consider Sony as the best company that employs services of qualified to deal in its ware (Sony Global, 2013).
Pricing mix influence how much sales Sony make within a given period of the year. This company uses superior pricing strategies, which ensure that people get what they want at the best prices in the market. Competitors exist but Sony deals with them appropriately because prices are set within limits that are affordable. Sony offers different prices for various products depending on several factors of production and other costs. When it comes to place mix, Sony possesses strategic presence all over the world in one way or another. However, its place of sales is the internet: Sony is available online- a transformational place for selling almost everything now. The website that handles Sony deals provides a lot of information, which can direct consumers into buying the correct product. This company also deals with wholesalers that ensure goods reach target demand and sell at the best prices possible.
Promotion mix within Sony Corporation influence sales performance largely. This company offers some play station card and a Sony Card both of which assist in securing rewards. These cards enable consumers and other potential buyers earn redeemable points whenever they go out to shop for any of the Sony products on offer. The company offer discount coupons from as low as 25% to 50%. Such discounts are useful when shoppers go for items like blue ray discs, laptops, notebooks and PC speakers. Sony offer rebate too, their official website deals on these well. When it comes to actual promotion activity, Sony carries out the process by use of umbrella branding strategy. This is done to ensure consumer confidence and loyalty (Borden, 1984).
Sony focuses on four major steps into the future and these will come true if the marketing mix works out well. Marketing is one area, which must come first for this company. Second, consumer views are vital to the company’s leap into the future. This is one area, which requires attention because sustainable demand comes from them. Companies like Sony produce because some out there is ready to buy its products without questions. Third, having focus on future investment. This initiative will assist Sony in expanding and diversifying on its core business because business environments change rapidly. In the business world, companies must change with conditions prevailing in the market otherwise, losses will occur. Fourth, allowing time for these objectives to be mature in the future. Evaluations must take place after sometime to ensure that operational effectiveness and efficiency are at play.
The competitive advantage of Sony Corporation is largely within various departments of the business entity, and across the entire organization. People who work within Sony really make sure that the company performs to its optimum levels. The marketing strategy for this company is based on resource allocation and policy implementation. Marketing features at Sony ensure that it creates and enjoy good amounts of competitive strategies around the world. Sony uses strategic marketing processes and procedures to accomplish its goals and objectives.
This company realizes the presence of competitors in the market and therefore it prepares well in tackling battles in terms of prices, quality and other factors. It employs porter’s five forces model one which has very powerful tools that promote selling. Porters insist on cost, differentiation, cost focus and differentiation focus on a given brand. It means that Sony concentrates around its products and makes those improvements, which will satisfy the customer easily. Besides this model, the company also deals more on its SWOT analysis. This is healthy for any company because it will reveal all the areas of gains and losses (Dogruer, et al, 2000).
Marketing mix determine how much a company like Sony will make in the market in terms of profits. The mix affects organizational development in several aspects. Overall planning of the company will require a lot of mixing just to moderate all the plans and make them look real. The type and number of products will affects the operational costs for any period. Seasons differ and product mix must be the basis of planning to develop and produce more. Price mix affects issues to do with the type of pricing to be adopt within a given market segment. Sony handles wide range of consumers and therefore it requires a lot of care just to balance the way it charges its prices.