Trends in International Marketing - Assignment Example

? Peer Review Assessment May 19, International marketing involves several concepts. The research centers on the Sony Corporation blog analysis. The research centers on comparing and contrasting two blogs. The Sony Corporation blogs indicate the implementation of a viable international marketing strategy. Similarities: Both blogs state that Sony Corporation focuses on the four marketing mix principles to increase its customer base. First, the company sells products that are of high quality. A high quality product is a product that is not easily destroyed. A high quality product is a product that last longer than the competitor’s products. A high quality product is a product that has been proven to retain its high quality product status for years (Cinzkota, 2007). Second, Sony Corporation focuses on selling the company’s products at reasonable prices. The strong demand for the Sony products indicate the products are sold at reasonable prices. People would normally shy away from products that are normally overpriced. A high demand for the product indicates that the average person has no objections to the current prevailing prices of the Sony products and services. Third, Sony Corporation sells its products in stores that are strategically located. Sony Corporation has retail outlets in all the countries located in American, European Union, and Asian. Each major city of the Asian, American, and European nation sells the Sony Corporation products. The customers can easily buy a Sony Corporation product by visiting the Sony Corporation retail stores within the customer’s reach. Fourth, Sony Corporation allocates a large budget for the promotion and advertising of the Sony Corporation products and services. The company does not spare a significant amount of money when it comes to advertising the many advantages of the Sony Corporation products and services. Advertising involves money. Advertising involves time budget. Further, both blogs show that Sony Corporation‘s adapting an international marketing strategy that is geared towards building profitable relationships with current and prospective customers as well as creating customer delight (Craig, 2000). The two blogs give the strong impression that the company is very successful in this area of the company’s marketing strategy. By selling only high quality products, a strong relationship between the current and prospective customers and Sony Corporation crop up. By selling the Sony Corporation products at reasonable prices, a strong marketing relationship between the current and prospective customers and Sony Corporation can be seen. By selling the Sony Corporation products in strategically located retail outlets, more relationships are created between the current and prospective customers and Sony Corporation. By advertising the many benefits of choosing the Sony Corporation brand over the competitors, a strong relationship between the current and prospective customers and the Sony Corporation products is crystal clear (McDonald, 2007). Both blogs show that Sony Corporation constructs integrated marketing programs that deliver superior quality. Setting up retail outlets in the United States, European Union member states, and Asia indicate the company is implementing a profitable marketing strategy. By selling only high quality products and services, the company is on the right track in implementing a profitable marketing program. By advertising the many benefits of buying a Sony Corporation product, Sony Corporation’s marketing strategy process is viable. By selling only high quality products, Sony Corporation’s current marketing strategy will rake in very high net profits. Both blogs show that the current Sony Corporation marketing strategy is geared towards designing of a customer driven marketing strategy (Czinkota, 1998). Selling at reasonable prices is a customer driven marketing strategy. Sony Corporation focuses on selling the Sony Corporation products at a price that the customers are willing to pay. Sony Corporation can sell the Sony Corporation products at higher than the current reasonable prices, with disastrous consequences. A higher priced Sony Corporation product will trigger a reduction in the demand for the Sony Corporation products and services. A lower price Sony Corporation product will generate a possible net loss for the company, which would not be good for Sony Corporation managers, investors, board of directors, and other interested parties. Both blogs show that Sony Corporation understands the marketplace and customer needs and wants. Sony Corporation uses different marketing strategies for each local retail store. The Sony Corporation incorporates the Chinese culture when its sells its products in the China market segment. Sony Corporation implements the American culture when the company sells its products in the American market segment. The same Sony Corporation implements the Korean culture when the company markets its Sony Corporation products in the Sony Korean products. In addition, Sony Corporation uses the German language when its sells the Sony Corporation in the German market segment. Both blogs clearly show that Sony Corporation implements a textbook-style marketing strategy. Sony Corporation’s being a popular brand indicates that the company implements the textbook-style marketing concept. First, the Sony Corporation segregates the global market into several smaller country market segments. Next, Sony Corporation focuses its international marketing strategy on identifying the diverse needs of each market segment. The market segments include the American Market, European Union market, and Asian Market. Third, Sony Corporation implements an integrated marketing strategy. The strategy includes maximizing the company’s scarce resources to products that is needed by the company’s current and prospective customers. Lastly, Sony Corporation implements a synergy-based marketing strategy the borders on generating profits through customer satisfaction. Both blogs indicate that other similarities. Sony Corporation is a manufacturer of audio, communications, video, and information technology products. Both blogs also indicate that Sony Company applies the marketing mix principles in its marketing strategies. Likewise, both blogs show that both companies prioritise filling the needs and wants of the company’s current and prospective customers. Sony Corporation successful marketing strategy includes resolving issues from each foreign country. Sony Corporation successfully resolves the issues on each country’s Tarriffs, and quantitative restrictions (quotas, embargos, and voluntary export constraints); Sony Corporation also settles all obstacles in terms of government laws, regulations, policies or processes that impede international marketing. Sony Corporation resolves to reduce the protectionism policies that protect the local industries from entry of Sony Corporation products and services. Both Blogs also show that Sony Corporation advertises the advantages of its products and services to increase its current and prospective customers. Both blogs also show that Sony Corporation must provide high quality products in order to stay ahead of Sony Corporation’s competitors in the same market segment. Both blogs indicate more similarities. Sony Corporation innovates its new products to keep ahead of the competition. Both blogs indicate Sony Corporation innovates its product designs to ensure the product sales continue to rise and generate net profits. Both blogs show that Sony Corporation focuses all its marketing strategies to creating and selling high quality products to Sony Corporation’s current and prospective customers. Both blogs show that Sony Corporation has set a successful marketing presence in the European Union, America, and Asia. Both blogs show that the suppliers take pride in helping enhance the economic presence of Sony Corporation in their country. Differences: FRIEND BLOG: My friend’s blog lists down the Sony products. The products are Bravia, Vaio, Playstation, Walkman, Sharp, Lenovo, Acer, Apple, and Cyber-shot. Friend’s blog also shows that one of the market segments of the company is Sony Pictures. Another subsidiary is Sony Ericsson Phones. Another Sony company is Sony Financial. Another Sony Corporation company is Sony Corporation entertainment. The Friend’s blog shows that there are other Sony Corporation companies such as Sony financial. PERSONAL BLOG: The personal blog shows Sony Corporation’s international marketing includes advertising the many advantages of its products and services. Sony also focuses on promoting its products and services. Sony Corporation sets up manufacturing operations in many countries. The company’s goods are sold at affordable prices. An international team of managers manage Sony’s global marketing strategies. The products are sold in different market segments. The personal blog indicates Sony’s marketing strategy of Sony Corporation includes offering clients a value that is grounded on the high quality products and after sales service. Consequently, the Sony brand generates a high demand in countries within Asia, United States, and the European Union member states. Sony’s marketing strategy includes ensuring the Sony reputation increases in popularity each year. The reputation increase is successfully done when Sony ensures all its products are of high quality and the company offers high quality after sales service to its current and prospective customers. In terms of demographics, the personal blog shows that Sony’s products are sold using demographic inputs. The demographics include the income level, gender ratio, family values, education, location, quality, and age. The demographics significantly influence the demand for the Sony products. In terms of quality, the blog indicates Sony Corporation sells products that avoid the use of hazardous chemicals. With environment-friendly products, the global demand for the Sony products had increased. Based on the above discussion, International marketing incorporates several concepts. The blog analysis indicates several similarities between the two blog. The two blogs indicate there are differences between the Sony discussions. Indeed, the two blogs prove Sony Corporation set into motion of a profitable customer –oriented international marketing strategy. REFERENCES: Cinzkota, M. (2007). International Marketing . London: Cengage Press. Craig, S. (2000). International Marketing Research. London: J. Wiley & Sons Press. Czinkota, M. (1998). Trends in International Business. London: Blackwell Press. McDonald, M. (2007). Marketing Plans. London: Butterworth -Heinemann Press. APPENDIX: APPENDIX A: My Blog on Sony Corporation International Marketing Strategy MY BLOG My BLOG (1) About Sony Corporation, it is possible to say that it is infinitely Japanese in spirit and American in its embodiment kind of corporations. Of course, any person have heard something interesting about Sony Corporation during the last decades (and I am not an exception) because its marketing strategy helped the corporation to occupy its prominent place due to constant advertising and a proper mass customer orientation. In such a way, I know that exactly Sony Corporation has launched the first transistorized receiver in mass production and created the world’s first home video cassette recorder (VCR). Owing to Sony’s active distribution of the own production, it is hard to imagine a world market of consumer electronics without various electronics goods made in Japan. To add, Sony Corporation has passed through three major stages in its developed, and these stages were small-scale production, specialized company and the largest monopoly (Triendl, 1999). In this regard, it is useful to note that the development of Sony began when its founders realized that they were not able to compete, and they chose the line for the production of things that others companies did not produced before (Mckern, (2003). Analyzing Sony’s marketing strategy it becomes obvious that the company chose the way of specialization in consumer electronics. I became aware of Sony Corporation in several ways; the first way is advertising because Sony is always interested not only in creating the new products, but also in promoting them in the most efficient way. The second way is examining information presented in different books and in the Internet. And finally, even a visit to any electronics shop can give a lot of information about the company, allowing me not only to gain theoretical knowledge, but to see the goods in the own eyes.
Basing on the fact that modern Sony Corporation is a giant organism, I can state that it operates in virtually all countries all over the globe and is managed by an international team of managers. Thus, the company is trying to say to its customers that its goods have not only affordable prices, but their quality is also excellent. Sony’s customers can be divided in several groups, beginning from ordinary customers who buy electronics for the own needs and ending with big corporations which use Sony’s electronics in business purposes. In summary, it should be noted that to achieve an absolute competitive advantage is almost impossible under current conditions of competition, but is it possible to achieve a kind of approximation to it, being ahead not due to the constant fighting, but due to a new level of the offered goods (goods with an innovative idea). As a result, Sony Corporation is successful in this strategy and proved that any company should not continue to rely on the market, constantly exploring the desires of the own customers, as consumers are fed up with the daily offerings. Moreover, any company must create a new product, and inform customers about its new properties; thus, Sony Corporation has changed the world of electronics forever My Blog (2) How does your client define value? My client defines value as the ability to be competitive in the increasingly competitive international market. The company’s value is determined by a number of different factors which include the company’s reputation in the market, how much Sony as the successful company makes in profit each year, as well as the company’s stock price on the stock exchange. It means that my client defines value as the ability to operate profitable business. What value do they offer to their customers? They offer to their customers a value that is based on the high quality products, a well-known brand that is highly valued in all countries of the world, from Asia to the USA and Europe. Besides, Sony offers a wide range of services or service related activities which also help to attract more and more customers every year. In addition, Sony tries to improve its productivity, employees’ performance and quality of the products, the ability to use new innovative technologies. Sony’s products and services are delivered to the point of destination on time what is very important for the customers. Special attention is paid to the product advertising which attracts more and more customers and guarantees success in the competitive market. In this case, market segmentation is of great importance as it will give an opportunity to classify the customers by their characteristics, such as gender, age, income level, social class, etc. in order to learn more about the demands of the customers. It means that Sony has the major goal is to satisfy the customers’ expectations in the increasingly competitive market. What value do they hope / plan to receive in return? They hope or plan to receive in return the value which is focused on the sales promotion, and business expansion. They hope to attract more new customers who will become regular customers. Moreover, they hope to receive stability in the competitive market, the increase in sales in the international market. They plan to improve the quality of their products according to the current standards. In other words, they plan to hold the leading position in the international competitive market due to the implementation of new technologies and due to constant improvement of the customers’ interests in the products, to satisfy the demands of the customers. Are there any issues related to the exchange of value related to your client and their customers? There are certain issues related to the exchange of value related to my client and their customers. First of all, my client and the customers should identify target markets in order to provide market segmentation. It will help to raise production and to improve current trends in customer relationship. It is known that exchange value measures the quantity of the company’s products, while the use value measures quality of the company’s products. Secondly, the other issue related to the exchange of value related to my client and the customers is focused on the use of such tools as brand building advertising and sales promotions, as well as web site networking. This issue is of great importance as due to the above mentioned tools, it is possible to increase sales. It means that the quantity of products will be increased too. My Blog (3) Mohammed AlansariS/N: 446928704 May 2012Business Environment SonyWhat have you been able to discover about your client’s internal business environment? My client’s internal business environment is focused on the internal factors which are controllable because Sony Corporation controls all these factors which include the company’s personnel, some physical facilities, as well as some functional means, such as marketing. For example, Sony’s brand helps to increase sales, launch new products, etc. Moreover, Sony’s vision and mission statements have enormous impact on internal business environment. It says, to experience the joy of advancing and applying technology for the benefit of the public. It is known that today Sony implements many new technological innovations which are represented in the new tech product line, such as mobile communication products, computers, video cameras, televisions, etc. What have you been able to discover about your client’s external business environment? My client’s external business environment depends on the market situations and government policies as well as on a number of other factors. Sony, as a leading manufacturing company, is affected by its competitors who want to hold Sony’s position in the competitive market. Among them are Samsung Electronics, Panasonic Corporation, SANYO, Philips electronics and others. The company is influenced by certain changes in law, government policies and regulations, etc. They are focused on product and testing standards, regulatory controls, investment controls, local-purchase agreements and etc. Sony can be found in many countries of the world that is why different political factors can reduce the sales of Sony in this or that country. Economic factors are focused on changes in exchange rates, tax rates, etc. For example, inflation provokes higher wages. The economic situations in the UK and in some other western countries are rather complex for Sony because of huge economic trade deficits. Besides, rather low growth in the national income of many countries results in the low demand of Sony’s products. All the above mentioned factors can be regarded as barriers to the market entry. Today Sony has a great deal of opportunities in the global market which include launching new products, the use of new technologies, expending business, but there are also some threats which are focused on the increased competition, and severe environmental regulations (pollution issues, reduction of the use of hazardous substances in manufacturing process, waste management, and etc.).How does the business environment influence their current marketing strategy? Business environment has enormous influence on the current marketing strategy. Business environment gives an opportunity to find out external forces and different factors that are out of the company’s control. These forces include Sony’s customer and creditors, Sony’s competitors and different national and international organizations, that prevent Sony to hold the leading position in the competitive market. Business environment helps to identify the company’s risks and opportunities and to incorporate the major findings into annual plans. In addition, such social factors as changes in the tastes of people influence Sony’s success in the market. It means that demand conditions and factor conditions of Sony are of great importance. My Blog (4) What have you been able to discover about your client’s market entry strategies? I have been able to discover that Sony’s market entry strategies are rather effective. Sony experts in marketing and market research pay special attention to positioning of the company in the market, segmentation and product launch, as well as to the new product development advertising strategy and the company’s branding. That is why they combine several market entry strategies, such as joint ventures, partnerships, exporting and some other strategies. Is the strategy consistent in all markets in which they operate? Why do you think this is the case? The strategy of Sony Corporation is consistent in all markets in which they operate because the company's products are very popular and highly desirable in the international market. This is the case because Sony’s products are of high quality. Besides, Sony uses new technologies in order to develop new product lines and to be the leading company in the international market. How successful have their market entry strategies been? Sony’s market strategies have been rather successful as they help to attract more and more new customers and help the company to hold the leading position in the competitive market. How does the market entry strategy affect their marketing strategy? The market entry strategy of Sony Corporation has enormous impact on the marketing strategy. For example, direct exporting requires the use of distributers and agents. That is why the final price of the company’s product will be higher in the competitive market. It can influence the sales and marketing strategy. Market entry strategy of Sony Corporation can affect its marketing strategy in relation the product’s price and the amount of sales in the market. My Blog (5) How would the client’s product or service be classified? As Sony Corporation is a leading manufacturer of audio and video products, game and communications products, key device and information technology products for millions of consumers and different professional markets, its products are classified as electronics, games and entertainment. The services are classified as financial, advertising and insurance services. What are the products/services attributes? The products and services attributes are named pieces of information assigned to this or that product or service, which describe this product or service. The products’ attributes provides different variants of products. It helps to attracts more and more customers as they are given a chance to choose those products they like most of all. For example, when the customers choose Sony laptops, they have a chance to choose the appropriate attributes, such as color (black, brown or silver), display (17a€™a€™, 15a€™a€™ or 14a€™a€™), etc. Is the product part of a product line or portfolio/mix? The product is a part of a product line. Is the product or service branded and if so what brand equity does it possess? The product and service of Sony Corporation is branded. Sony brand name is known throughout the world. How has the brand been designed and developed? Sony’s brand has been designed and developed for about 50 years. The company uses different brand strategies, such as product brands, line brands, range brands and endorsing brands. Since Sony Corporation’s creation of the brand in 1946, the company has always been known as a leader in product innovations. If the client offers a service what are its nature and characteristics? The client offers several services, which include financial services, banking, advertising services, insurance and credit finance. The main characteristics of Sony’s services are high quality, reliability, trust and good planning. How does this compare to the main competitor’s product/service or brand? Sony’s main competitors are LG, Phillips, Samsung, and some other companies. The products and services of Sony’s competitors are also in demand, but Sony’s reputation in the competitive market is stable. Millions of customers trust Sony and choose its products and services, because Sony Corporation is a leader in product innovations. It is known that the company’s main approach is doing what other companies do. The company goes with the times and its innovations are considered to be a part of the mainstream culture (video cameras, TV sets, Mini disk players, etc). APPENDIX B: My Friend’s Blog on Sony Corporation International Marketing Strategy MY FRIEND’S BLOG FRIEND BLOG 1 Sony was the brainchild of two men; Engineer Masaru Ibuka and Physicist Akio Morita which was founded in [minato]Tokyo back in 1946. Sony is globally known manufacturer of audio, video, communications and information technology products. The Company’s mission is to bring new technologies, content and services together in unprecedented ways that enable people to re-shape their perception of the world and enhance their lives. Sony’s brand management strategies focus on tiered Branding as the brand focused on developing distinctive product identity such as WALKMAN, Cyber-shot, PlayStation, VAIO and BRAVIA. Which demonstrate Sony’s passion for design and its development of products. Sony’s principle business operations include Sony picture entertainment, Sony corporation, Sony Computer Entertainment, Sony BMG Music Entertainment, Sony Ericsson and Sony Financial Holdings. I came aware of this huge technological giant when it first launched its Walkman, which is official trade brand name for portable audio cassette player under Sony’s umbrella brand. It was marketed in 1979 which drastically influenced change in music listening habits of the teenage customers. Sony as the pioneer of this technology dominated the market of portable music industry. Sony promotes its various range of products through marketing mix by doing effective advertisement, sales promotion and public relations. Before launching their products into market Sony uses different ways to advertise their product to make sure that people should have awareness about their products before buying them as their slogan says make Believe. Effective advertisement can influence buyers’ decision making and can force customers to buy Sony products. Effective advertisement can be done through media [advertisements on TV’s. Adds in news papers adios etc. Sony has developed very good relationship with its customer through their website where customers can enquire anything they need and to meet demands of its customers. Mostly it has customers of every type but specifically nowadays teenagers are into video games technology so Sony’s PlayStation is best in business . To conclude, i would say the range of product Sony has its hard to compete with Sony even though there are few competitors like Samsung, LG, Toshiba but due to advance graphics and technology attracts customers more then anything. FRIEND BLOG 2 Sony by creating product and services deliver customers new and additional value. To major the innovation process, managers must be able to devise solutions that better fulfill the criteria customers use to measure value customers buy different kinds of values which includes Cost and Benefit. Cost depends on Great price with Great quality, Customer expect there product to last and Last forever. Customer emphasis on products Reliability & Durability and Service dependability with no hassle with the firm. Sony continues to influence its strong worldwide operations and brand strength to drive sales growth in briskly expanding emerging markets. Sony has already established strong essentials in emerging markets. Visual communication systems continue to improve to meet the growing needs of demanding users and to make the best use of cutting-edge technologies. Sony has a long history of developing state-of-the-art visual communication systems that make it possible for users to communicate more effectively regardless of location or distance. And now, exploiting the very latest technologies, Sony is created a new era of visual communication. Sony offers different Market Segments differs from different group of customers. Its product line is very large starting from MobileSD cards to 55-inch, plasma-killing' tri-color LED-backlit Bravia, Sony playstation games, Sony laptops etc. Sony targets different range of markets such as multinational audio visual companies, emerging economies, Middle & Upper Middleclass families (age 20+to seniors), Working adults with hobbies of TV watching, sports, movies and high-endgame consoles. For example Sony Ericsson, a mobile phone joint venture between Japan's Sony Corp and Ericsson of Sweden, aims to enhance its market share in China by rolling out lower- priced handsets to target low-end users. The firm was ranked the fifth-largest. The first issue faced by Sony was the incompetent manufacturing structures which shrinkage Sony’s quality that badly affects their reputation and to lose their product competitiveness and competitive advantages in the market. It is significant to emphasize that if an organization seeks to build competitive advantage it must meet the needs and expectations of its customers. The fact that Sony’s product qualities are unable to meet the needs and expectations of their customer had completely decreases the confident of the market and swipes away its reputation. Sony that differentiates themselves from the competitors for them to charge a premium price for their excellent product and quality, as argue, good reputation can create a positive prejudice in the mind of the customer which make customer prefer the brand. Therefore, the diminishing of Sony’s reputation will create a negative prejudice and weaken their core competences which will directly affect their competitive advantages and become a major threat for Sony. FRIEND BLOG 3 Environmental Audit: Which factors are effecting company macro environment Demographic factors have serious impact on the Sony products and also the way they are introduced in the market also effects them. The demographic factors like income level , gender ,male female ratio , family values, quality of education and age play key role in the business of Sony .For example a country in which earning level of an individual is high or if the family’s head has high earning in one country than another family from a country in which income level is lower , definitely more products will be sold in the country in which income level is high Technological factors: Since its first product and to date Sony has always come up with new technology its most recent innovation is its blue ray which it has implemented in its products another recent technology is that Sony and Tokyo tech jointly developed LSI’s along with such innovations Sony has global presence through internet in almost all the official languages of those countries so that feedback from all kinds of customers could be received and followed. Natural factors: Sony has always adopted to the understanding and the needs of the customers across the globe its designs, functionality and use by customers are its key priorities Environmental factors : Sony has minimized the use of chemicals which could be harmful or hazardous to the customers , which has helped in improving the image of the company globally. Factors affecting the company’s micro environment: Geographically Sony has its presence in Europe , America and Asia. The various subsidiaries of Sony have expertise in different electronic products for example Sony electronics and Sony financial services . For its global performance Sony has its global suppliers which take pride in giving their best for the country they are meant for. Rivals (competitors): Sony has both domestic and international competitors, to always stay ahead of competitors Sony has to come up with new technologies , innovations and designs . The names of domestic competitors are Toshiba , Sharp etc and some international competitors are Lenovo, acer and apple. FRIEND BLOG 4 Market entry strategy: Since Sony is a global brand therefore it has adapted and customized its products for every region, segment for example Sony electronics and Sony financial services for all the countries it operates in .The strategy of Sony varied from country to country and region to region depending on what customers wants in that particular region. Since customer satisfaction is the key priority for Sony it has different managing directors for different countries. The director of each country controls the operations in that country and keeps updated all the info regarding that country. Being global brand Sony has standardised its products and customized for every country. Therefore overall the international marketing strategy of Sony is global provided that necessary amendments are made according to the demand , requirements and regulations of that country for example in some countries Sony can run business independently and own its business wholly but in other countries Sony has to enter into agreement, contracts and joint ventures. The countries in which, today Sony has huge ownerships were started with basics operations of manufacturing and with passage of time Sony expanded its operations into complete business .Since now it is global brand it directly opts foreign direct investment where feasible which gives instant control of business in that newly entered country and thus Sony gets opportunity to penetrate in the local market rapidly. Countries like America , Japan and United Kingdom cover almost seventy five percent of sales in these countries. Sony started with basic operations and now it is market leader. In some countries Sony chooses joint ventures , merges and agreements with companies which do similar business to Sony like electronic products, games, audio, and video products etc. Therefore in general Sony prefers foreign direct investment for developed countries , in emerging markets it enters through joint ventures like with Samsung and in developing countries Sony does direct and indirect investments FRIEND BLOG 5 Sony a global brand does not only offer electronic products but it offers variety of products and services. Therefore it attracts customers from large pool of population, from 6 year old kid to 65 five year old man might require financial services of Sony, having been able to create so many market segments Sony not only has created brand value but been able to attract customers from all sorts income level who could afford from cheapest to most expensive products. Product attributes are the elements most associated with the core product, such as the features, specifications, styling, branding and packaging (Doole and Lowe, 2012).the primary products of Sony playstation, recorder , video cameras and Sony mobile communications and the the primary attributes of these products are there design ,functionality and convenience in use. For example Sony launched its first playstation which was a hit in market, but with time to time Sony kept on adding more attributes to it which the secret of customer lifetime value and the evidence is this that Sony when launched playstation 3 in comparison to playstation it had better design, peripherals , graphic user interface and including blue ray disc. These additional attributes in all the products and services at regular intervals keeps Sony ahead of its competitors. The basic and added attributes in the products not only retains customers but also acquire new ones which is the most challenging thing to achieve in marketing. The designs, color, functionality and user friendly graphics of Sony products exceed customer expectations to create value for customers and in return create value for the company(Sony) by acquiring them for life time . For example if Sony acquired one customer by selling him playstation 1 then by adding attributes to the coming products for example in playstation 2 and 3 it made that customer to purchase two more products , in this way that customer will never leave Sony for all his life and will keep on purchasing products from Sony . This is how attributes in the products and services of Sony ake it a market leader globally. Read More