Marketing Mix - Marketing Mix University of Phoenix By...

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Marketing Mix University of Phoenix By Scott Ward
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In today’s economy, business is on a rollercoaster effect. Companies all over are taking financial hits, but on the other hand some companies have been doing just fine, if not hit with any natural disasters. A way that companies can help their chances of benefiting from current conditions is to market efficiently. Looking at the elements that are to be considered, which are product, place, price, and promotion. Each element plays a critical step in success within the market which the organization competes in. The company I have chosen to describe the marketing mix is Sony Entertainment. They are a company that is based from Japan, but has many other head offices in California and Canada. They focus on delivering the best and most up to date electronics that money can buy. They try to diversify their marketing by having products that range all over, televisions, computers, cameras, video recorders and video gaming consoles. For Sony, they have a large marketing system, which is broken down by categories for each product to be marketed. Sony Entertainment is part of the consumer entertainment industry, SIC code 36510000: Household audio and video equipment. They are a publicly owned company and have over 160,000 employees worldwide. When looking at the first element, which is product, Sony must be careful when selecting their product to be marketed. They must look at the area which they want to release a product, like currently they are in the process of releasing a new hand held electronic. This new product is called the Sony PS Vita, which is a video game console with two touch pads one top and one bottom, a camera, six-axis motion sensor, and 3G wireless technologies for internet and wireless gaming. This product has been in the making for a few years and was just announced a few weeks ago of its official completion. In most cases, new products are described as found in the text, “So far, for many new-product concepts, the product may have existed only as a word
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description, a drawing, or perhaps a crude mock-up (Armstrong & Kotler, 2009, p.239).” Sony is
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Marketing Mix - Marketing Mix University of Phoenix By...

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