Determine the Marketing Mix for a Sony Electronic Product
To determine the marketing mix for a Sony electronic product, you should consider the four Ps of marketing, product, price, placement and promotion, and conduct an analysis of each to identify which tactics were used by the organization to develop a marketing strategy for the specific product.
Instructions
1. Evaluate the Sony electronic product. Learn about the features and after-sale aspects. This initial stage of the marketing mix helps to formulate the other components of the marketing mix (the four Ps) and it should help give you insight into the direction in which Sony's marketing department was going when they were developing strategies for this product.
2. Review the price for a Sony electronic product. Price is the fastest marketing mix aspect that can be adjusted for any product. Find out how often the product price shifts. Determine how well the product is priced to meet market conditions (i.e., national consumer spending). Monitor financial news outlets for details as well as Sony's website to see fluctuations in cost for a Sony electronic product.
3. Look at the placement for a Sony electronic product. This deals with the how easy it is to obtain the product. Consideration for distribution channels (i.e., manufacturer to retailers) is vital for a Sony electronic product to get into the consumer's hands and is a vital part of the marketing mix.
4. Research the promotion for a Sony electronic product. Watch TV commercials and look at online advertisements to see how the company communicates with customers. For instance, announcing a new product launch via press release is an example of promotional aspect of the marketing mix for a Sony electronic product.
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