MARKETING

Marketing

Table of Contents

Marketing3

1.Marketing Strategy for a Television Manufacturing Company: Sony3

Product4

Place6

Promotion8

Price11

2.Marketing Plan for a New Product14

Overview of Existing Organization15

Market segments15

Target market15

Customer needs16

Competition16

External Environment17

Internal Environment18

Situation analysis19

Marketing objectives20

Description of new product and service20

An explanation of the importance of marketing to your selected organization's success21

SWOTT Analysis23

Marketing research approach24

References27

Marketing

Marketing Strategy for a Television Manufacturing Company: Sony

Market oriented strategic planning is described as the process of developing and sustaining a workable link between a company's objectives, expertise and resources and the altering market opportunities (Kotler 2009). Developing market strategies is a complex task, which requires deep study and analysis of the current market opportunities. The market world of today faces a new threat and opportunity, the Internet. It is a threat for those who have still not utilized it for direct marketing of their products and services and an opportunity for those have initiated this step. Internet has facilitated sales and marketing of numerous products of different companies. (Adcock 2001)

However, the use of Internet to develop marketing channels has also be a reason for the decline of sales of brick and mortar retailers. This era is the era of speed, sophistication and ease. Today people find it more comfortable to order things via Internet. (Paliwoda 2009)

The marketing mix is the way that the four parts of a company's marketing policy are combined in order to achieve its objectives. It is also known as the 4 Ps. These are product, price, place and promotion. The way they are combined depends on the type of product and the nature of the competitors. The marketing mix of its competitors will also affect it too. (Joshi 2005)

Product

Product is about how the product has changed and how it will change over time in the future. Sony TV has changed a lot since they first were made. They started off as very basic TV with not that many features on. Then they got things like JPEG still shots, multi-disc resume for 40 discs and they come in different colors and can be portable. They are also now able to record. Sony keep trying to add new things to their TV so they stay ahead of the competition. (http://www.cim.co.uk)

Customers buy a product because they want to get something from them and this will come from what the things like the brand name and what the product actually does. It all goes into what the product is. (Dev 2005)

The product will need to change over time because the market is continually changing and so if they don't change and update it then its competitors will make newer and better models and they will take over. If Sony doesn't keep improving their TV then other companies like Panasonic will take over as the best TV make. Sony will tell customers that they should have the newest TV now rather than just responding to the customers needs. (Paul 1997)

The market research will show the companies how they need to change their product from what the people they ask tell them and this will help them develop their ...