Overall marketing plan & objectives
The overall marketing plan is to increase the sales of the electronic products of Sony especially the PlayStation brand of video games. Also, the focus is to give increased value to its customers and partners through better product offerings and increased sales numbers in the various markets amongst its target segment. The reason is also because of the electronic goods industry especially the gaming market, in particular, is such a large industry in itself with a lot of young and old consumers looking to shift to both online and offline gaming now, so there is a huge potential for Sony to grow and become the largest player in the industry. Also, this industry is such that there has been no or even in some cases opposite effect of the recession and economic downturn in some markets and so the scope of growth in these times is even greater. The company is the third largest player in the industry with a 26% market share after Microsoft (27%) and Nintendo (46%)(Strokes, 2008).
Overall the industry sales figures for Sony in the last couple of years have not been very encouraging, and this has resulted in the company even reducing the product costs for this reason. Sony as a brand has also suffered as the consumers associated the brand with a high-quality product which was sold at a higher cost because it was better than other competing products in the market. But the current scenarios have pressurized the company into reducing their costs as well. Moreover, this has been also a result of the severe price cutting competition that Sony has entered into with the other big player in the market which is Microsoft with its Xbox product range. Since the competition is also someone that has deep pockets, there was no other option for Sony but to respond to their competitive pressures. Overall also, the company has been facing severe trouble with other product ranges like the TVs, Music systems and the Mobile phones which the company marketed in alliance with Erickson Telecom, also not fairing very greatly. Hence this resulted in the elimination of around 20,000 jobs and a shutdown of 6 production bases. Also, the raw material prices for the manufacturing have been shooting up exorbitantly which the company has absolutely no control over (Clow, Baack, 2007, p.107).