A

PROJECT REPORT

ON

“Sony Company”
Submitted
On
Partial Fulfillment for the Award of
BACHELOR OF BUSINESS ADMINISTRATION

Degree From
HEMCHAND YADAV VISHWAVIDYALAYA,
DURG(C.G)

Session 2022-23

Project Guided: Submitted By:

SANDEEP JASWANT Aadhya Mehta

HOD, Dept. Of Management Studies BBA6thSemester

Shri Shankaracharya Mahavidyalaya,Junwani

(Affiliated to Hemchand Yadav Vishwavidyalaya, Durg(C.G))
 CERTIFICATE

This is to certify that the project report on “Sony Company” submitted in

partial fulfillment for the Award of BBA degree to Shri Shankaracharya
Mahavidyalaya,Junwani affiliated to Hemchand Yadav Vishwavidyalaya, Durg C.G

is the genuine work done by Aadhya Mehta under our supervision and guidance.

Sandeep Jaswant
HOD, Dept of Management studies

Dr Archana Jha
Principal
Shri Shankaracharya Mahavidyalaya
 DECLARATION

I Aadhya Mehta student of BBA 6th semester hereby declare that this project
report on topic “Sony Company” is my original work. This work was done
as a requirement for the partial fulfillment for the degree of Bachelor of
Business Administration given by Hemchand Yadav Vishwavidyalaya Durg.
All the information & data given in this project are authentic to the best of my
knowledge and is taken from reliable sources.

AADHYA MEHTA

BBA 6th SEM

 ACKNOWLEGMENT

Completing a task is never a one man effort. It is often the result of valuable
contribution of a number of individuals in a direct or indirect manner that helps in
achieving an objective. I express a deep sense of gratitude to our principal Dr
Archana Jha for giving me permission to do the project, sincerely acknowledge the
guidance of H.O.D. Department of Management Studies Mr. Sandeep Jaswant for
her support in giving me timely advice and thank her for valuable support
and encouragement. Their direction, supervision and constructive criticism were
indeed a source of inspiration for me.
I also express my deep gratitude to the…. It was a special valuable asset for me to
have them as a project guide.
I also convey my sincere gratitude to all the respondents who gave me their precious
time and for cooperating with me and making this project research work possible
working on this project has been a learning experience for me and I thank to all
people associated with me during this period.

AADHYA MEHTA
BBA 6th SEM
 CONTENTS
Topic PageNo.

CHAPTER-1:

INTRODUCTION

1.1:Selling Strategy

1.2:Marketing Strategy

1.3 :Overview of Marketing Strategies

CHAPTER-2:COMPANYPROFILE
: About Sony company

:SWOT Analysis

:Strategic network of Sony Company

CHAPTER-3:RATIONALEOFTHESTUDY
:Objectiveofthestudy

:Limitationofthestudy

:ResearchMethodology

CHAPTER- 4: QUESTIONNAIRE
CHAPTER-5:CONCLUSION
:Findingsofthestudy

:Suggestionsofthestudy

:Conclusion
 CHAPTER – 1 INTRODUCTION

Selling strategy
Definition of selling strategy
tors of selling strategy
14 effective selling strategy
es management
The process involved in sales management

Marketing strategy

Definition of Marketing Strategies

aracteristics of an Effective Marketing Strategies

tors of Marketing Strategies 1.2.4Characteristics of

Real Life Marketing Strategies

1.2.5 Advantage of marketing Strategies

Overview of Marketing Strategies

Types of Marketing Strategies

Key Elements of Marketing Strategies

inciples of Marketing Strategies

eps of Marketing Strategies

Strategy is one of those business-speak buzzwords managers and business owners love to toss
around, the Center for Sales Strategy says. Talking about sales strategy sounds impressive,
but what actually happens is often less so: Your company offers a discount to new customers,
or you set higher quotas for your sales team. Those are tactics, not strategies.
A sales tactic is any new maneuver you try to increase sales. A strategy is a plan to achieve
specific sales goals. It's long-term and usually includes a variety of tactics. For example, a
sales strategy might involve a plan for finding new prospects, plus a way to screen them and
identify the most likely buyers. Your sales people then work to meet with those prospects and
close a deal with them.

Tactics are typically deployed as short-term sales boosts, like a 15 percent discount if
someone buys before the end of the month. A sales strategy involves consistent tactics and
methods for the long haul. If the plan is successful, you should be able to keep using it for
years. There are many possible sales strategies, but Lead Fuze says they all include answers
to three key questions:
What is the company going to sell?
Who are the customers we're selling to?
What tactics will we use to grow sales?

MARKETING VS. SALES STRATEGY

Marketing is important to sales, but your marketing strategy is not your sales strategy. A
marketing strategy identifies your target demographic and explains how you'll make them
aware of your company's offerings. Sales strategy is about closing the deal, converting people
from "target demographic" to "loyal customer."
Richardson sales performance says a good marketing strategy will generate inbound leads.
These are potential customers who've become aware of your company and call up or go
online for more information. They're warm leads, which are people who are at least a little
interested in buying. Outbound leads are the ones your sales team generates by networking,
asking around and cold-calling.
Following up an outbound lead is often a long shot, but it can pay off. Inbound leads have
more potential, but many warm leads are just curious. Others are interested but not qualified,
like someone test-driving a Porsche who can't afford to buy one. Even with warm leads, your
company has to screen the prospects and work to close the deal.

SALES STRATEGY VS. REALITY

A sales strategy can easily become a pie-in-the-sky fantasy if it's not grounded in your
company's everyday reality. Before you start strategizing, sit down with last year's sales
reports and crunch some numbers. How many sales did you make? How much of that was
repeat business? Which customers generated the most revenue? How many leads became
customers?
Talk to your sales team about all this, marketing donut recommends. Numbers only tell part
of the story. Your salespeople can tell you what sort of objections they run into, what the
competition is doing better and what the big obstacles to increasing sales are. It may be the
problem isn't sales but product quality or shippers consistently delivering items late.
The goals for your strategy should be ambitious but attainable. Talking to your sales force
can also help with that. They can tell you, realistically, how many added prospects they have
the time to reach out to. It may be that to meet your goals you'll need to hire a couple of extra
team members. If that's not practical, you may have to lower your goals to something your
current team can handle.

BUILDING A STRATEGY

While there are many types and varieties of strategy, successful ones all have common
elements. Every strategy should have clear goals, up lead says. For example, yours might
centre on finding new prospects, increasing repeat business or increasing the number of leads
who become customers. Your sales data should give you an idea where you need the most
improvement.
The goals should come with key performance indicators (KPI). If your strategic goal is to
find new prospects, how many should you have at the end of three months, or a year? If you
want to boost repeat business, what percentage would justify a victory lap? You also need to
decide who evaluates performance and what happens if sales miss the benchmarks.
Good strategies usually come with standardized procedures. Your sales team should have a
process for handling inbound and outbound leads, with clear steps to follow. They should
also know how to report performance so you can keep track of the KPI.

STRATEGY AND SELLING

Corporate vision says a good sales strategy should include ways to improve your team's sales
skills. When a prospect hears a pitch for a new product or service, saying no can feel safer
than taking a chance on the unknown. More sales are lost from prospects doing nothing rather
than signing with your competition. Your sales team has to convince them it's not only good
to close, but give them a sense of urgency – they need to buy ASAP!
It helps if your team is flexible. Prospects are under no obligation to follow the steps in your
strategy. They have their own concerns they want your company to take care of. Your sales
people have to listen and understand the other person's issues and problems, including the
ones the prospect doesn't bring up in conversation.
One part of your sales strategy might be to look at different sales channels. If your sales team
are closing lots of small sales with in-person meetings, it might be cost effective to steer
those customers into buying online. Other options include direct mail, online ads or working
through intermediaries. If you're branching out overseas, for instance, working with popular
stores in the target country might be more effective than sending customers there to your
website.
 FACTORS OF SELLING STRATEGY

Factors to consider before you sell

There are a number of factors to consider before selling to ensure success.

COMPETITION
All businesses face competition, and success is often based on how well you respond to it.
You should be aware of your competitors and always strive to develop a competitive
advantage over them.

To gain a competitive advantage, you could:

 raise or lower your prices

 improve your product or service - improving or modernising features or the
manufacturing process
 use creative channels of distribution - such as channels of distribution not normally
associated with your product or service
 exploit supplier relationships
* understand your competitors.

MARKET SHARE
Market share is the percentage of all sales within a market that is held by one brand/product
or company and can be measured in several ways, such as:

 sales revenue
 sales volume
Market share is directly linked with profitability and many companies aim to increase their
sales relative to their competitors.

You can measure your company's performance relative to a competitor by the proportion of
the market that your company is able to capture - Market Share = company sales divided by
total market sales.

You can increase market share by:

 providing more value for potential customers - eg improving product quality

 price cutting - to increase sales revenue, though this tactic may not succeed if
competitors are willing and able to meet any price cuts
 adding new channels of distribution or increasing the intensity of established
distribution channels
 promotion - increasing advertising expenditure, though competitors may respond
accordingly
* increase your market share.
CUSTOMER BASE

The consumers that buy your business' goods or services define your customer base. Consider
the things you should know about them, including why they might buy from you.
* assess your customer base.

NICHES

A niche is a small but profitable section of a market that is often suitable for a specific range
of goods or services that meet a particular need. You can create a niche market by identifying
customer needs or wants that are not being addressed by competitors and by offering products
to those customers.

MARKETING STRATEGY
Your company will need a well-developed marketing strategy that will act as your marketing
roadmap and forms an essential part of your overall business plan.
* create your marketing strategy.

BRAND MESSAGE
Before you begin to sell a product or service, you should ask one question of your company -
what does your brand stand for?

For your brand to stand out in the marketplace it should make an emotional connection with
potential customers.

You should aim to sell an experience rather than a product, for example a financial service
providing peace of mind.

WHOLESALE VALUE
Some products are sold via wholesalers. Wholesalers buy goods from producers at a reduced
price. After adding on their profit margin, they then supply the goods to retailers who sell to
the public.

Most businesses will be able to sell to wholesalers, as they can provide a good way to reach
many retailers at once. However, you should look closely at the profit margin you need to
make in order to remain profitable. This is important to ensure you don't sell your products
too cheaply to the wholesaler who will always want the lowest possible price from their
suppliers.
1.1.3 EFFECTIVE SELLING STRATEGIES
Effective selling is the ability to lead a person or group of people toward a mutually
beneficial transaction. Salespeople are persuasive communicators who reach people by
actively listening to them, empathizing with their needs or wants and helping them solve a
problem or reach a goal. Understanding the different selling strategies available to you may
improve your sales approach and help you grasp the nuanced process of buying and selling.

In this article, learn more about the most effective selling strategies that individuals can use
at any point in their sales career, whether they are entry-level sales representatives or senior
sales executives.

WHY IS IT IMPORTANT TO HAVE EFFECTIVE SELLING

STRATEGIES?
Whether you're new to sales, considering it for the future or a seasoned professional, some
common practices are used to facilitate the process of exchanging goods for money. These
selling strategies may help you:

 Present your product with confidence

 Expand and retain your customer base
 Drive sales and increase commissions
 Qualify for promotions
Reliable techniques are just as important to salespeople as motivation, patience and
resilience. With a targeted approach to connecting with your ideal customer, you may be able
to increase sales conversations and advance more quickly through your career.

EFFECTIVE SELLING STRATEGIES

Here are 14 strategies that you can use to become a more effective salesperson:

1.IDENTIFY A PROBLEM AND SOLVE IT

People buy products and services they need. If it's possible to satisfy the need without a
purchase, they will use that money elsewhere. Before you set up a call or meeting with a
customer, understand what problem you are solving for them and how. Try thinking of results
instead of product details and features.
For example, if you're selling a customer relationship management (CRM) system to a small
business that's never used one before, begin by explaining specific ways this will help them
succeed. You could say that a CRM can help them gain more customers by improving the
performances of their sales, marketing and customer service teams.

2.UNDERSTAND YOUR PRODUCT

Firsthand knowledge makes for easy conversation. Pretend you are a customer of the product
and curious about its features. Learn it, use it and test it. Additionally, read any supporting
materials or manufacture brochures that accompany it. This can help you figure out how and
when this product will solve your customer's problem.
For example, if you're selling software that saves time in scheduling work shifts for a large
team, remember that your prospective customer is concerned primarily with time. It may help
to explain the onboarding process and how soon the product can be ready to use.

3.PRICE APPROPRIATELY
If you're able to influence the pricing of what you're selling, make sure it fits in the market
competitively. Pricing that is too low may suggest a poor-quality item or that the company is
struggling for revenue. Comparatively, pricing that is too high may require supporting
evidence to justify the cost, such as compelling marketing materials that detail the product's
invention and customer success stories. If pricing isn't appropriate but cannot be changed,
study your competitors and prepare to explain why your product is more valuable or more
affordable.

4.KNOW YOUR CUSTOMER

It is helpful to know who will benefit most from your product. For instance, your ideal
customer might be private schools that need help with marketing efforts, manufacturing
companies hoping to save on material costs or local hospitals looking to update software
services.
After you target the people who need your product, learn about their unique business
situations. Try to understand their needs before meeting with them so that you can have a
more productive conversation. This may also help you connect with a company or individual
more deeply and show them that you care about them and not just getting their business.

5.ALIGN WITH YOUR CUSTOMER'S NEEDS

Each customer has a unique set of objectives and concerns related to their business. Some
sales conversations might require you to offer more in order to meet the customer's needs. For
instance, your client may request a custom package of services outside of the standard
packages you typically offer. In this instance, your customer's needs necessitate this mix of
services. By letting your customer know that you would love to be able to do that for them,
you can make them happy while also taking the time you need to obtain manager approval if
necessary.

6.DON'T SELL WHAT ISN'T NEEDED

Effective selling involves exchanging something of value for money. When your customer
spends money on a product that doesn't deliver, they may hesitate to buy from you again or
recommend your product to others. If you discover that your customer doesn't actually need
what you're selling, refrain from finishing the sale.
Explain your insight into their situation and that you believe they may be better off with
another product or service. If you know of a specific company they can work with, help
connect them. Your honesty in this situation may lead to a sale at another time because your
customer trusts that you care about their interests.

 Related: 15 Ethical Principles in Business

7.BUILD A RELATIONSHIP
Take notes after you've conversed with your customers and follow up on important matters. If
they mentioned an upcoming anniversary trip, the loss of a family pet or their sports team
making the playoffs, reaching out for something other than business might help strengthen
your relationship. Long gaps in communication may allow your customer to seek pricing
elsewhere. Instead, hearing from you regularly reminds them how easily they can reach you if
they have a question or need to purchase an additional product.

8.ARTICULATE A CLEAR SALES MESSAGE

Prepare a concise message that will leave plenty of time for your customer to respond. You
can do this by practicing and revising your sales approach to ensure it's as clear as possible.
Notice which topics slow you down when you say them aloud, and try describing them
differently. If you have a friend or family member who isn't familiar with what you're selling,
ask to do a mock sale for them. They may be able to point out areas of your message that are
unclear and need more explanation.
It may be helpful to take notes after your sales pitch about what went well and what didn't. If
your message is met with confusion or concern, try altering your approach at that point in the
sale to ensure you are as clear as possible and that you can ease the customer's worries.

9.ASK INTELLIGENT QUESTIONS

Knowing your customer allows you to ask the right questions and lead the conversation
toward a positive outcome. Rather than using yes or no questions, asking open-ended
questions will help get your customer talking so that you can listen to their needs and, if
possible, offer a solution. For example, you could ask your customer which areas of their
project management process could be better. This question prompts your customer to think
critically and share concrete details that you can respond to with specific solutions.
Your goal is for the customer to conclude that your product or service is what they need.
Conversely, if they determine your product is wrong for them, you have the opportunity to
redirect their effort toward a different solution that might be better for them. In doing so, you
have gained a business relationship that may produce a sale later on.

10.OFFER A FREE TRIAL OR DEMONSTRATION

Make it easy for your prospective customer to understand your product and how it will help
them by offering a personalized demonstration of your company's product. If you are selling
to a university, try including their logo and school colors for visual appeal. Then, focus the
demonstration on addressing the challenge your customer is facing. If tracking prospective
students through the admissions cycle is a concern, focus exclusively on that process rather
than giving a standard demo that explains all of your product's features.
After explaining the product, allow your prospective customer to experience positive results
by offering a short, free trial. If possible, have your team ready to reach out and offer
customer support during this time.

11.CREATE A SENSE OF URGENCY

Your customer may have more than one need to address, which may cause them to delay in
purchasing your product. Instead of sending follow-up emails that focus on why they need
your product, try giving them a reason to make the purchase today. A few exciting ways to
incentivize time-sensitive purchases include:
  Offering your returning or prospective customer a discounted service or upgrade
 Inviting them to participate in testing a new product or feature
 Announcing an upcoming price change that may prompt them to buy sooner

12.SPEND MORE TIME SELLING

If you have administrators or assistants on your team available to complete the paperwork
related to your sales, ask for their help. Many people prefer to stay behind the scenes while
also contributing to the team's success. Any organizational tasks that your colleagues remove
from your day can result in more time with customers.
Having more time available for customers is especially helpful for cold calling, which may
involve a long list of prospects who are unfamiliar with your product. Cold calling sometimes
includes a sales script as a basis for the conversation, but you should still speak candidly with
a prospect to listen for their unique needs.
Though acquiring new customers is important, it is vital to maintain your current customer
relationships as well. Try spending time with your current customers by asking how
implementing a new product is going or brainstorming a more elaborate package for their
contract renewal. If one of your clients hasn't yet achieved their goal, try helping them by
offering a training session with your product or introducing a new product that may help
them more than the one they're currently using.
 Related: What Is Cold Calling?

13.START A REFERRAL PROGRAM

A referral program is a fun way to give back to your existing customers while generating new
leads. Excite your customers with discount opportunities on the products they love. With
manager approval, a recurring customer may receive reduced pricing if they refer new
customers to the company.
 Related: Generating a Lead: How To Do It (Plus Tips)

14.SHOW CREDIBILITY
Despite your best presentation, your customer may not fully understand the value of your
product. In this instance, a customer may determine whether to work with you based on how
much they trust you as a sales representative. It is possible that your relationship-building
skills may help you close more deals than your product knowledge will.
Share your experiences and successes with your customer whenever possible. Include these
along with your credentials in your professional profiles. Allowing customers to learn about
your achievements may affirm their decision to work with you.
1.1.4 SALES MANAGEMENT
Sales management is the process of developing a sales force, coordinating sales operations
and implementing sales techniques that allow a business to consistently hit, and even surpass,
its sales targets.
If your business brings in any revenue at all, a sales management strategy is an absolute must.
When it comes to managing sales and boosting sales performance for any size of operation,
no matter the industry, the secret to success is always precise sales management processes.
This starts with a great sales manager who knows how to inspire and lead a sales department.

Besides helping your company reach its sales objectives, the sales management system
allows you to stay in tune with your industry as it grows, and can be the difference between
surviving and flourishing in an increasingly competitive marketplace.
Whether you’re an experienced or new sales manager, you should be able to evaluate and
gain visibility into your current sales force with the following guide to sales management.
Once you have a clear picture of what processes to monitor and how to keep track of them,
you’ll be equipped to pinpoint issues early on, coach people before it’s too late, and have a
better overview of the tasks the team should be doing to increase its sales.

If you’re a sales rep who happened to stumble upon this guide out of curiosity, you’re already
winning.

This guide will give you an understanding how your company's sales process is managed,
allowing you to become more in sync with your team, create a better relationship with your
manager and achieve better sales results yourself.

THE THREE KEY ASPECTS OF SALES MANAGEMENT

There are three umbrellas to manage within the sales process:

o Sales operations
o Sales strategy
o Sales analysis

The process will vary from business to business, especially as you work your way down the
line, but operations, strategy and analysis are the three key starting or focal points.
WHAT IS A SALES MANAGER?
The first place to start when answering the question “What is sales management” is
understanding the role of a sales manager. A great sales manager is the person who guides
your salespeople and is responsible for:
o Setting sales goals and quotas
o Motivating and mentoring the team
o Creating sales plans and workflows
o Hiring and onboarding new hires
o Organizing sales training programs
o CRM and pipeline management
o Ensuring coordination with the sales enablement and marketing teams
o Overall team management
These are just some of the responsibilities in a sales manager's job description. Let’s focus on
three of the most important tasks a good sales manager excels at: building the team, defining
the sales process and reporting.

Sales operations: Building the team

After you’ve acquired a great sales manager, it’s time to start thinking about expanding the
team. This may not be a total shocker, but the sales team is the backbone of the company;
they are the direct connection between the product and the customer.
All in all, the sales team should feel like they are a part of the company and be equipped with
the resources to progress rather than be viewed as money-making machines.

When selecting and onboarding new talent, you should take your time to be thorough in
training them and developing their skills, regardless of their experience.

Salespeople shouldn’t just be great sellers, but need to be great at selling your product and be
a representative of your organization that customers want to work with.

Once you have a few more hands, the sales team should all be on the same page, working as
individuals within a single, collaborative unit. A more systematic approach will result in
fewer errors and greater achievements for the sales force and company as a whole.
Then this is where the fun really begins.

You can set your team up for success by giving them high yet realistic targets, which you’ll
be able to track to measure future success (you’ll learn more about this in the “Reporting”
section). To do this you would need to:
o Set targets
o Assign territories
o Establish goals and quotas
But the sales manager’s job isn’t done there. It’s also their duty to counsel the team
throughout the process, make sure they are still on track, and motivate them when needed.
Think about what experiences motivated you throughout your career, and use them to inspire
and motivate your own sales team. On the flip side don’t forget to share your disappointments
and failures, how you overcame them and offer support during difficult periods.

SALES STRATEGY: DEFINING THE SALES PROCESS

Once you have a sales team and know your targets, you might be wondering: How do you
actually carry out the sales?

There are many definitions of sales, but essentially, you’re facilitating a transaction between
your company and its customers, moving them through a process which leads to an exchange.
Every business has a sales cycle, which is a series of tasks that helps a company’s product
reach its users. Therefore, having a sales pipeline, or sales funnel, will make that easier to
maneuver these deals to completion.

WHAT IS A SALES PIPELINE?

A sales pipeline is a visual sequence of activities to achieve with each prospect, from the
initial lead to the closing of the deal.

Simply put, a pipeline helps salespeople stay organized and takes control of their work. After
all, there are some things you cannot control or have little control over, such as your results.

That’s where managing activities comes into play. If a salesperson can see their progress, or
their activities, they will be motivated to do more work and conquer more challenges.

Sales activities that are within a sales person’s control include:

o Lead generation, scoring and qualification
o The number of sales calls, follow- up emails, social media messages and other
outreach activities they undertake
o Market research on new products, new segments and other other pertinent
information
o Product knowledge
Keeping salespeople accountable for performance is also an important aspect of the sales
manager’s job.

SALES ANALYSIS: REPORTING

Reporting helps you understand how your current strategy affects your company’s success
and gives you insight into what you can do to increase your efforts, whether it’s hiring more
salespeople or redistributing tasks.

Successful reporting involves using sales metrics, or quantifiable indicators, that tell you how
each aspect of your sales operations is performing and whether you are achieving your
targets.
With the standard sales funnel, you should be able to measure the following four metrics:
o Number of deals in your funnel
o Average size of a deal in your funnel
o Close ratio, or average percentage of deals that get won
o Sales velocity, or average deal lifetime before it is won
Collecting data will allow you to find your ideal customer quicker and, as a result, serve them
faster. A CRM tool, which you’ll learn more about in the section on technology below, will
help you streamline your sales management process.

MARKETING STRATEGY
Marketing strategy is a process that can allow an organization to concentrate its limited
resources on the greatest opportunities to increase sales and achieve a sustainable competitive
advantage. Strategic planning involves an analysis of the company’s strategic initial situation
prior to the formulation, evaluation and selection of market oriented competitive position that
contributes to the company’s goals and marketing objectives. Strategic marketing as a distinct
field of study emerged in the 1970s and 80s, and built on strategic management that preceded
it. Marketing as a link between the organization and its customers Marketing scholars have
suggested that strategic marketing arose in the late 1970 and its origins can be understood in
terms of a distinct evolutionary path:

 Budgeting control
 Long range planning
 Strategic planning
 Resource based view
Budgeting control also know as scientific management Date: from late 19th century Fredrick
Winslow Taylor Frank and Lillian Gilbreth, Henry L.Gantt, Harrington Emerson. Emphasis
on quantification and scientific modelling, reduce work to smallest possible units and
assign work to specialists, exercise control through rigid managerial hierarchies, Standardise
inputs to reduce variation , defects and control costs, use quantitative forecasting methods
to predict any changes. Long range planning Date: From 1950s Herbert A. simon to
managerial focus was to anticipate growth and manage operations in an increasingly complex
business world. strategic planning also known as corporate planning Date: From the 1960s
Michael porter organisations must find the right fit within an industry concentration and
market power firms should strive to achieve a monopoly or quasi monopoly successful firms
should be able to erect barriers to entry. Strategic marketing management it refers to a
business overall game plan for reaching prospective consumers of the products or services the
business provides. Date: from late 190s each business is unique and that there can be a
formula for achieving competitive advantage firms should adopt a flexible planning and
review process that aims to cope with strategic surprises and rapidly developing threats
managements focus is on how to deliver superior customer value highlights the key role of
marketing management as the link between customers and the organisation. Resource Based
View (RBV) also known as resource advantage theory date from mid 1990s. The
firm’s resources are financial, legal, human, organisational, informational and relational
resources are heterogeneous and imperfectly mobile managements key task is to understand
and
organise resources for sustainable competitive advantage. Jay B. Barney George s. Day Gary
Hamel, Shelby D. Hunt G. Hooley and C.K. Prahalad. A vision statement is a generic
competitive strategy as the basis of maintaining a sustainable competitive advantage for the
forthcoming planning period a vision statement is designed to present a realistic long term
future scenario for the organisation. It is a clearly articulated statement of the business scope.

DEFINITION OF MARKETING STRATEGY

A marketing strategy refers to a business overall game plan for reaching prospective
consumers and turning them into customers of their products or services a marketing strategy
contains the company’s value proposition, key brand messaging , data on target customer
demographics and other high level elements. A through marketing strategy covers “the
four Ps” of marketing: product, price, place and promotion. A marketing strategy is a
business game plan for reaching prospective consumers and turning them into customers of
their products or services. Marketing strategies should revolve around a company’s value
proposition. The ultimate goal of a marketing strategy is to achieve and communicate a
sustainable competitive advantage over rival companies. A clear marketing strategy should
revolve around the company’s value proposition which communicates to consumers
what the company stands for , how it operates and why it deserves their business . This
provides marketing teams with the template that should inform their initiatives across all of
the company’s products and services. For example is widely known as a discount retailer
with “everyday low prices”, whose business operations and marketing efforts are rooted
in that idea. A marketing strategy is all of a company’s marketing goals and objectives
combined into a single comprehensive plan. Business executives draw a successful marketing
strategy from market research. They also focus on the right product mix so that they can get
the most profit. Put simply a marketing strategy is a strategy designed to promote a good or
service and make a profit. In this context the word good means the same as product. A good
marketing strategy helps companies identify their best customers. It also helps them
understand consumers needs. With a good strategy , it is possible to implement the most
effective marketing methods. SERP Co digital marketing & has the following definition of
the term: “An company’s strategy that includes every one of its marketing approach.”
To broaden knowledge and widen the range of strategies you could implement should learn
about CPA marketing, digital marketing, word of mouth marketing , and relationship
marketing. When a company has an edge over a rival or rivals in the provision of a product
or service, it has a competitive advantage. Marketing strategies are long term forward
looking approaches to planning .Their fundamental goal is to achieve a competitive
advantage. Mercedes did not obtain this competitive advantage overnight or because it was
lucky. It was part of the company’s long term strategy. Specifically part of its marketing
strategy It provides a blueprint for attaining these marketing objectives. It is the building
block of a marketing plan it is designed after detailed marketing research. A marketing
strategy helps an organization to concentrate it scarce resources on the best possible
opportunities so as to increase the sales. Choosing the target market we mean to whom the
organization wants to sell its products. Not at all the market segments are fruitful to an
organization there are certain market segments which may be having great potential but there
may be high barriers to entry. A careful choice has to be made by the organization. An
indepth marketing research has to be done of the traits of the buyers and the particular needs
of the buyers in the market. Gathering the marketing mix by marketing mix we mean how the
organization proposes to sell its products the organisation has to gather the four P’s of
marketing in appropriate combination. Gathering the marketing mix is a crucial part of
marketing task. Various decisions have to be made such as;
o What is the most appropriate mix of the four P’s in a given situation
o What distribution channels are available and which one should be used
o What developmental strategy should be use in the target market
o How should the price structure be designed
The definition of marketing is the action or business of promoting and selling products or
services including market research and advertising. Today marketing is something that every
company and organization must implement in its growth strategy many companies use
marketing techniques to achieve their goals without even realizing it as they work to promote
themselves and increase sales of their product or service. They days marketing is one of the
key aspects of business People often do not know exactly what marketing is and when asked
they define it as selling or advertising while these answers are not wrong they are only a part
of marketing there are many other aspects to marketing like product distribution,
promotion, designing and creating materials like landing pages and social media content,
improving customer experience doing market research, establishing market segments and
much more. Marketing is very broad and encompasses all the strategies that help a company
brand or individual achieve their objectives. This discipline centres on the study of market
and consumer behaviours and it analyzes the commercial management of companies in order
to attract acquire and retain customers by satisfying their wants and needs and instilling brand
loyalty. Not too long ago marketing mostly consisted of outbound marketing which meant
chasing potential customers with promotions without really knowing if that person was
interested in purchasing. Thanks to the digital transformation and rise of new communication
channels marketing has drastically changed over the years. It is important to define how you
want to position the product in the market in order to achieve positioning among customers
and fulfil customer and organisation relationship loyalty is the method to create sales
opportunities also to communicate and position the product and service and to translate the
operational lines that allow reaching a target market through the right channels. A marketing
plan is a strategic roadmap that businesses use to organize execute and track their marketing
strategy over a given time period.

CHARACTERISTICS OF EFFECTIVE MAKETING STRATEGY

Crafting and executing an effective marketing strategy is the most important job for any
marketer and failure to do so is the greatest threat for building business momentum. The key
to creating an effective strategy lies in fulfilling company’s needs, and how can
appropriately market products and services to customers. The characteristics outlined below
either individually or collectively of marketing strategies can help companies achieve
positive outcomes.
1.KNOWING OUR TARGET AUDIENCE

Without knowing what and to whom you are marketing our product or service is just going to
get lost in thin air. Companies need to make sure there is actual need for their offering and
actual people to serve. Knowing the demographics and psychographics, along with a client
profile will help direct the strategy to an individual.

2.STRATEGIC WITH A DEFINITE PURPOSE

Implementing a plan at the beginning of the marketing journey is the best way to start. The
strategy is a purposeful guide for a company that can help communicate easily to customers
telling them what they do and why they do it. Being simple and consistent in communication
across various marketing collaterals can be an added characteristic for an effective marketing
strategy. Keep communications simple and consistent across all of our marketing materials.

3.THINK OUT OF THE BOX

If you are repeatedly reading the same thing, it’s not going to make our strategy stand out
from the rest businesses should ensure their team has a brainstorm session to come up with
unique ideas to be able to create an impression on potential customers with as quickly as
technology advances these days it’s important to try to stay innovative. Researching for
new data platforms and constantly updating the database is a good way to keep improving our
strategy and incorporate fresh information.

4.COMPETITION AND CREDIBILITY

With knowledge of customers and their journey, it is equally important to know the
competition in our market. An analysis of the competitor’s strengths and
Weaknesses are a great way to understand how we stand apart from our competition followed
by their marketing activities and campaigns. An effective strategy needs to be achieved
sustainably in the prescribed time and amount.

5.PERFORMANCE FRIENDLY AND MEASURABLE

Every effective marketing strategy or campaign needs to have responses that can be measured
and tracked to see the success picture of the company. Use an appropriate analytical tool to
generate numbers in real time. Furthermore having metrics like ROI traffic and reach with
click through rates or bounce rates for our website or social media platforms can help chase
effectiveness.
 FACTORS OF MARKETING SRATEGY
Arguably one of the most important aspects of growing your business is marketing strategy
with an effective marketing plan in place will be able to flesh out such things as potential new
growth opportunities who actual customers are versus who thought they were how to acquire
more customers and where best to spend future marketing dollars. Companies that fail or
struggle indefinitely However just because you create a strategy does not guarantee success.
Here are five factors that can make or break marketing strategy.

1.UNDERSTANDING OF OUR TARGET MARKET

Every marketing strategy has a target market that want to reach even if not certain who
should target start by inputting information that do know figuring out the demographics of
target audience is a great place to start. Once you nail down the demographics want to create
a buyer’s persona. The buyer’s persona is the secret weapon used by successful marketing
companies. The buyer’s persona is the secret weapon used by successful marketing
companies. The buyer’s persona includes information such things as age, gender and income.
Depending on needs it can include details like what they enjoy eating how many kids they
have or even what sports teams they cheer for. The point is you need to understand target
market so know where can target them how they behave and what kind of interests they have.
If don’t understand target market can’t possibly expect to reach them. For a company like the
buyer persona was one of the essential first steps in creating the marketing strategy we knew
we had an awesome product that simplified the payment process so it was a natural action to
build out that buyer persona from a person who needs to buy or sell online.
2.COMMUNICATING THE VALUE TO CUSTOMERS
The most impressive marketing strategies in the world won’t work unless
communicate the value of product or service to customers need to clearly communicate
exactly what product offers. If they can purchase a similar good or service elsewhere need to
communicate what makes different and better than competition. Vault bank is a company that
aims to make investing easier and more accessible to everyone. Vault bank didn’t invest their
model but it made it better as a managing director clunky ways of investing and we have
never been shy about advertising the uniqueness of our product to current and potential
customers. In this competitive business marketing is more about effective communication
than anything else.

3.WATCHING THE DATA

In these days of Google analytics a free marketing data tool there’s no excuse for not keeping
a close eye on the data. with the availability of marketing data companies can track which
web pages are generating the most clicks how long visitors are staying on pages where site
visitors are coming from and much , much more failure to spend the time needed to watch
data can mean the failure of the entire marketing strategy. Just ask Zhixianyan of Echolink.
As a PhD and computer science guru yan knows all too well the value of computer data in
forensic customer habits investigation as well as highlighting areas where future marketing
money should be spent.
4.FOCUS
The best companies out there focus on helping customers not on making money. It isn’t an
intuitive idea the thought of putting customers ahead of profits but it works. As soon as
company starts focusing on giving value to customers there is an almost inexplicable says the
founder of marine chain. The practice of placing more value on money rather than the human
component sabotages any kind of effort you make grow business good businesses don’t just
work that way. To achieve this kind of focus be sure to include marketing team on meeting
about R&D and find other ways company can add value to people’s lives. This will help
remind marketing team of the real mission of the business.
5.PASSION
Never underestimate the power of passion in any business venture. If care or don’t care about
a project it will show in the final product. Whether selling a hair care product or bananas need
to be passionate about company product or service and marketing strategy. Business is along
term investment need to find a strong motivator at the beginning. If don’t have passion at the
outset never be able to keep it going in the long run. Eventually lack of enthusiasm will
manifest itself , whether in the quality of product the lack of direction in marketing campaign
or in the way handle customer interactions on social media and online forums. Simply
stated people can tell when a company doesn’t care about it’s customers and eventually
they will stop caring too.
If lost passion for business or marketing strategy, consider changing it up in a way that
generates renewed interest. This may mean adding a new product line altering how interact
with customers or even moving marketing business to a new agency. Of course the first step
ensuring the success of marketing strategy is to have a good plan set in place of begin with.
Get marketing wheels in motion by implementing these ideas.

6.LONG TERM OBJECTIVES OF THE FIRM

It is essential for the company to pan its vision and determine where it wants to see itself in
the long term. This vision is the basis of all business strategies and so is for the marketing
strategy of the company.

7.TACTICS
Various short term tactics like freebies sales discount, lucky draws, contests, etc. supports the
marketing strategy adopted and attracts more customers in the short run.

8.STRATEGIC PLANS
Knowing the company’s in and out, i.e. the product specification strengths weaknesses
marketing mix marketing channel sales budget etc is necessary to select a useful marketing
strategy. Company now where it needs to be backed up by a strong mission or plan of action
the marketing strategy adopted must align with the organization.
 CHARACTERISTICS OF REAL LIFE MARKETING STRATEGY
Developing and executing an effective marketing strategy is the most important job of any
marketer and failure to do so is the single greatest threat to creating anything that looks and
feels like business building momentum. While few would argue with the statement above
marketing strategy as a practical tool remains little more than an academic exercise for most
businesses. Wrestling with the idea of developing useful real life marketing strategies for
small businesses and have concluded that there are a handful of characteristics that can be
minded explored and shaped in order to make marketing strategy the foundation of business
building. These elemental characteristics are rooted deeply in human wants and desires and
act to create a connection between a company its products and services its people and
ultimately it customers. I believe any company can create a marketing strategy that will
actually serve as the catalyst to creating a remarkable business by deeply exploring and
exploring and embracing one or some combination of several of the characteristics outlined
below.

1.SINGLE MINDED PURPOSE

If were going to point to a requisite characteristic it might be this one. When a company is
built with a single minded purpose and communicate that “why we do what we do” in a way
that makes meaning in the lives of its customers and prospects, magic can happen. The idea
of higher purpose can be a tricky one too. A customer can resonate with the fact that mission
is to bring peace and harmony to the world , but it’s just as likely that there’s market hungry
to do business with a company that believes bringing beauty to the world through incredibly
simple design is why they do what they do. The key is a thorough understanding and simple
and consistent communication of the why and can’t fake this characteristic but can move
higher purpose front and centre in marketing strategy. Some of the companies that enjoy the
highest levels of staff and customer loyalty focus almost entirely on why they do as opposed
to simply trying to do what they do better. The product is almost secondary to this single
minded purpose marketing strategy is one that claims to bring a return to what’s good about
creating all natural products in small hand crafted batches and by the way we sell dairy
products.

2.DESPERATELY SEEKING INSPIRATION

People want to go on journeys they feel are epic in nature. Now this may sound a little far
fetched if simply building a small law firm focused on small businesses but every business
can inspire. We can inspire by telling stories by communicating the why by standing up for
simplicity and by bravely connecting our own purpose in life with that of the goals and
objectives of our clients. Leadership the kind that’s drawn from deed and word the kind that
understands that the best way to get more is to want more for others is inspirational. Firms
that draw commitment from customers and staff give them a way to sign up for something
that can allow them to be their best self. Steve Jobs is cited more often than any other
company leader for his ability to inspire through telling stories about the apple brand.

3.AN OBVIOUS INNOVATION

Every industry engages is some practice that customers just come to live with. And then
someone comes along either from outside of the industry or as method of survival and
shakes it up but suggesting there’s a better way. Creating what ends up looking like an
obvious innovation in an industry and then embracing that change as a marketing strategy is
one way that companies create a clear differentiation. A hosting company located in Austin
Texas, created an obvious innovation in the hosting industry by simply making a decision to
provide real service. While that shouldn’t seem like an innovation it was in an industry that
appeared to abhor actually talking to its customers. To sum up marketing strategy –
“Fanatical support isn’t just what we do. It’s really what makes us well us. It’s our need to
make a difference in the lives our customers no matter how big or small. Really, it’s our way
of life.”

4.LET US ENTER
People will give their last dollar to be entertained. I believe this has never been truer than it is
today since so many of the products services and ideas we sell can be acquired for free
these days the money’s in the package and the experience. Fun, joyful, theatre and stage
aren’t words than are always connected with business, but bring them in and a new world
opens up. I had reason to spend a day at Google recently and they get this one very well.
Work is often long, hard and boring, but when do we ever tire to play and make that fact that
yours is a business that’s fun to go to work in and fun to do business with central to strategy
and people will be drawn to the game. Step inside the offices of t-shirt maker and will be
greeted by giant stuffed creatures, two airstream “think pods” offices decorated by staff to
show off departmental personality, and a basketball court in the warehouse. This place is
definitely fun.

5.THE ROLE OF CONVENIENCE

This one goes hand in hand with simplicity and surprise, but it’s something different entirely.
Some businesses are actually hard to do business with. We may love what they do but scratch
our heads at how they do it. This one is all about non-friction speed of change and a mentality
of yes. Take down the barriers to communication give people the tools to do what they want,
rethink meetings, eliminate the policies of control trust customers and staff and above
all use technology to enhance personal relationships rather than wall them off. Being easy to
do business with is a marketing strategy that can become a culture and mantra that spreads
word of mouth and drives customer adoption faster than any promotion or campaign ever
could. Ever is easy to do business with. Their products across all my various tools and just
work without the need to consult an owner’s manual.

6.SIMPLICITY US HARDER THAN IT LOOKS

Life’s too complicated, instruction manuals and return policies and messages and mission
statements and features and design are all too complicated. One of the most attractive features
of organizations that enjoy high levels of commitment is a lack of features. Simplicity is the
most appreciated attribute of the products and services love to love and yet it can be one of
the hardest to actually achieve. This can’t really be achieved by simply stripping out
features. If this is to be a marketing strategy it must become a way of life that informs every
decision. They make great software that does just a handful of thing very, very well.
According the CEO Jason Fried they spend more time considering what features to leave out
of a release then what to add. 37 signals is a great example of a business that has embraced
simplicity as a marketing strategy.
7.THE ELEMENT OF SURPRISE
Few things like exceeding someone’s expectations. This might end up sounding more
like a personality trait but companies that turn customers into volunteer sales forces fully
understand and use the power of giving more than was promised and surprisingly beating
expectations as a marketing strategy. Who doesn’t like to get little unexpected gifts, free
overnight shipping and hand written notes and yet when was the last time you got any of
those.Again I return to Zappos has an unstated policy of surprise. If order shoes on a Monday
the order confirmation will suggest that you allow 3-5 days for shipping but don’t be
surprised if they show up the next morning. Red bull is a brand that inspires their audience to
challenge their limits, using never done before marketing campaigns. Perhaps one of their
most famous
sponsorships is Felix jump from the stratosphere. However that’s only the tie of the iceberg
when it comes to their years of sponsorship of high risk athletes. And that is exactly the word
defines marketing strategy risk in the jump and in all of the other brands campaigns many
things could have gone wrong but these marketers knew that high risk equals high reward.
Hope this list has left feeling inspired and full of ideas for your marketing next strategy.

ADVANTAGES OF MARKETING STRATEGY

All business decisions have their advantages as well as disadvantages and it is important to
consider them before making a choice. Entering a new market and creating the go to market
strategy are the biggest challenges for business owners. Go to market strategy is the basis of
business wants to engage with new clients convey product cost set up powerful relations and
achieve business aims on the new market. The strategy outlines what to say how to say and
whom to say it to in order to make more sales. A market research company is the exact one
can rely on in the business have to know the companies do not develop go to market strategy
with the help of intuition at least note everyone. Unlike the others can provide with the
proficient strategy based on up to date information and digital technologies. Many
entrepreneurs think about the importance of the go to market strategy and now it is time to
discuss the advantages of doing go to market strategy.

1. KEEP FOCUSED
It is common knowledge that a clear plan helps us to be focused on solving our challenges in
its turn go to market strategy helps to focus on the new market entry. This allows
concentrating on every element that influences overall strategy. It is also important to divide
strategy into smaller actionable activities that help to ease the process of the market entry.
And the staff of the digital agency will help to complete these tasks.

2.HELP TO DISCOVER USP(UNIQUE SELLING PROPOSITION)

Do not imagine that are selling just product may be in a bad position from a promoting point
of view. People search for answers for issues they have that is why they look for products that
give those advantages. Become superior to competitors when have a unique selling
proposition. It can separate by showing to clients how new product will take care of an issue
in a way competitors will not. At the core of brand marketing strategy has to be unique
selling proposition. No one knows better the exclusive features of product than discover
additional highlights of offers while creating go to market strategy. Then our team can add
them to the promotion campaign and guarantee the target audience notice product or service.

3.MEET THE NEEDS AND WANTS OF THE TARGET AUDIENCE

Have to know exactly what needs potential customers because can fail to try to encourage
customers because can fail to try to encourage customers to buy products no matter how good
they are. Should also know that customers often have a list of requirements and help our
clients to define these requirements to choose the best marketing strategy and increase future
sales. Marketers can also try several hypotheses about target audience and find their needs
and wants.

4.PROMOTE BUSINESS TO THE POTENTIAL CUSTOMERS

The study found that more than 75% of business owners consider social media ads and
Google ads as the top sources for promotion. The social network allows to find network
target audience interact with them share relevant content and drive traffic to site. For most
brands we recommend starting with Facebook and You Tube. Those social networks have
many active users that is why they are the most powerful ad platforms. Depending on the
target audience, we can also set up ads on. Each social media ad consists of an image or
video text and link to website or profile in the social network. We handcraft each of these
elements in corresponding with the personality of target audience and business on the whole.

5.DETERMINE THE DEMAND FOR THE PRODUCT OR SERVICE

Demand is just another word for “requests from customers.” If know online demand can plan
next steps and simply feel more confident and secure about the future of company. Obviously
it has no sense to be presented on the market where is no need for products or services Use
online tools that allow us to find out today’s search trends and which are only gaining
popularity. Our team can also explore how to use Google data to create quality content on
website keep up with the latest trending searches see what was popular on Google by year.
Have to know the online demand helps to improve SEO(Search Engine Optimization) and
content marketing of brand because can find what question and issues internet customers.

6.REVEAL THE COMPETITION

Remember should never forget about future competitors. Even if have a successful business
can lose selling point one day. Competition is always high and have to know everything
possible about it. We usually analyze 7-14
direct and indirect competitors to find the best features and trends. It can help business to
become a marketer leader. Who is the better the customers of potential competitors.
Benchmarking research to find to questions the aim of service is the analysis of the buyer’s
journey comparison of performance with competitors finding the ways to become more
competitive. Discover what features appeal to the customers what strategies the competitors
use and how to attract their clients to buy.

7.LIMIT RISKS AND BOOST OPPORTUNITIES FOR THE MARKET ENTRY

Go to market strategy protects the company from unpredictable economic conditions and help
to overcome the challenges that the market entry may face. Business can enjoy the benefits
for many years with a robust go to market strategy. Moreover the strategy increases ability to
make more profit in the long run initially creating the strategy requires investment. But as a
result entering new markets increases long term cash flow. Moreover if home activity
becomes lower business does not hurt much the other markets that get more income.

8.FIND THE WEAK SIDES OF THE BUSINESS

It is not easy task because think that brand is flawless. Like an iceberg cam see only 20% of
the business conditions. But can find pain points in another 80% of business. Our team
usually checks the business conditions of the clients before doing go to market strategy ready
to help reduce the chances of failure and find solutions to the pain points of company.

9.BUILD BRAND AWARENESS

Branding is the recognition of product or service by its time. Want to be remarkable for the
clients. So our team can help to develop a solid brand strategy. It will help to promote
product or service on the new market. Branding allows to complete with more experienced
and recognizable companies should anticipate building a noticeable brand that can draw the
attention of potential clients should concentrate on authenticity so business can dominate but
only with a careful brand strategy.

OVERVIEW OF MARKETING STRATEGIES

Marketing strategy involves mapping out the company’s direction for the forthcoming
planning period whether than be three five or ten years. It

involves undertaking a 360 review of the firm and its operating environment with a view to
identifying new business opportunities that the firm could potentially leverage for
competitive advantage. Strategic planning may also reveal market threats that the firm may
need to consider for long term sustainability. Strategic planning makes no assumptions about
the firm continuing to offer the same products to the same customers into the future. Instead
it is concerned with identifying the business opportunities that are likely to be successful
and evaluates the firm’s capacity to leverage such opportunities. It seeks to identify the
strategic gap that is the difference between where a firm is currently situated and where it
should be situated for sustainable long term growth. Strategic planning seeks to address three
deceptively simple questions specifically. Due to increasing need for accountability, many
marketing organisations use a variety of marketing metrics to track strategic performance
allowing for corrective action to be taken as required. On the surface, strategic planning seeks
to address three simple question however the research and analysis involved in strategic
planning is very sophisticated and requires a great deal of skill and judgement.

TYPES OF MARKETING STRATEGY

Marketing strategy is used by different companies to collaborate with their consumers. It is
also employed to aware the customers about the features, specifications and benefits of
company’s products. It is basically focused on encouraging target population to buy those
specific products and services. Marketing strategies might be totally innovative or they can be
previously tried or tested strategies. Effective marketing strategies help to get ahead in the
competition. There are different types of marketing strategies available have to pick one as
per business requirement. Before choosing the right marketing strategy of business consider
following points.

1.DEFINE THE TARGET POPULATION

Defining target population is main and necessary step in choosing marketing strategy. It gives
the proper demographics which help in selecting the most appropriate marketing plan for
business.
2.TEST YOUR AUDIENCE
Create a hypothetical process of buying to test audience. Once know the buying behaviour of
target audience can select more appropriate marketing strategy.
3.CONSIDER MARKETING STRATEGIES
Once know the demographics their knowledge attitudes and behaviors can select more
appropriate marketing strategy.
4.EVALUATE THOSE STRATEGIES
Once have considered the marketing strategies and found the applicable ones. Asses them
apply them and evaluate them. This process must be for testing purposes and the most
suitable and productive strategy must be applied.

There are different types of marketing strategies available picking up a marketing strategy
includes analyzing the needs of business target audience and specifications of products the
two main types of marketing strategy are
1.PAID ADVERTISING
This includes multiple approaches for marketing. It includes traditional approaches like TVCs
and print media advertising. Also one of the most well known marketing approach is internet
marketing. It includes various methods like PPC(Pay Per Click) and paid advertising.
2.CAUSE MARKETING
Cause marketing links the services and products of a company to a social cause or issue. It is
also well known as cause related marketing.
3.RELATIONSHIP MARKETING
This type of marketing is basically focused on customer building. Enhancing existing
relationships with customers and improving customer loyalty.
4.UNDERCOVER MARKETING
This type of marketing strategy focuses on marketing the product while customers remain
unaware of the marketing strategy. It is also known as stealth marketing.
5.WORD OF MOUTH
It totally relies on what impression leave on people. It is traditionally the most important type
of marketing strategy. Being heard is important in business world when give quality services
to customers it is likely that they had promote.
6.INTERNET MARKETING
It is also known as cloud marketing it usually happens over the internet all the marketing
items are shared on the internet and promoted on various platforms via multiple approaches.
7.TRANSACTIONAL MARKETING
Sales is particularly the most challenging work. Even for the largest retailers selling is always
tough especially when there are high volume targets. However with the new marketing
strategies selling isn’t as difficult as it was. In transactional marketing the retailers encourage
customers to buy with shopping coups discounts and huge events. It enhances the chances of
sales and motivates the target audience to buy the promoted products.
8.DIVERSITY MARKETING
It caters diverse audience by customizing and integrating different marketing strategies. It
covers different aspects like cultural beliefs attitudes views and other specific needs.
Marketing strategies have made it much easier to promote products and services. They also
limit the strategy to target audience ensuring the proper advancement of the business.
9.MASS MARKETING
Major corporations need to drive large numbers of purchasing of their products in order to
survive and grow while mass marketing may seem like a shotgun approach to marketing this
is far from the truth big businesses spend big money in understanding big data that a lots of
big this gives them an insight to where to place media for their potential national customers
who buy their products and services. As the number one retailer in the world they are very
smart about their mass marketing efforts often giving their customers a feeling of locality and
warmth.
10.SEARCH MARKETING
These days when consumers have questions they often don’t ask their friends they go straight
for Google in fact Google is so good at answering our questions that million of people daily
search for their answers on his leading internet search site one does not have to look far to see
the power of search marketing Google has shaped the industry for many years now and has
helped hundred of retailers grow their businesses. While many businesses used to advertise in
their local yellow pages as less and less consumer consult their local physical directory this
channel becomes increasingly less effective each year consumers right where they live at
home while there is often a negative side to this approach many smart companies execute
direct
marketing well created direct marketing programs that their customers
 KEY ELEMENTS OF MARKETING STRATEGIES
When start a company there’s so much to do and so much to learn it can be easy just to wing
it with marketing after all already know plenty about social media and funnels right no matter
how knowledgeable are pays to have a plan here are the 10 key elements of a solid and
effective marketing strategy are:

1.BRAND OVERVIEW
Any marketing strategy or marketing plan is going to begin with the basics what is brand and
what does it do this is opportunity to tell a bit about story and lay the groundwork for the rest
of document.

2.CHALLENGES OPPORTUNITIES GOALS

Won’t see this in every marketing plan out there but i think it’s absolutely essential to
lay out the challenges opportunities and goals see for company start with challenges is the
market looking to enter dominated by one key player or may be product solves a problem
people don’t quite understand yet these are both example of challenges that you will need to
address later in marketing strategy with messaging positioning and strategies for creating
exposure. Think about the opportunities if there are only a few companies out there might
have the opportunity to gain a large portion of the market share if create a brand advocacy
early on if the market is saturated might have a very unique angle with product positioning
will make brand extra appealing to a key market segment no matter how tough an industry
might be there is always an opportunity available to if take the time to find it.

3.MARKET RESEARCH
Market research can actually be more difficult to complete than actually think if already have
paying customers that’s the first place should go for feedback and insights. If don’t have
paying customers yet need to develop customer avatars and make some educated guesses
about what they both want and need when it comes to market research going want to start
with the basics age gender location job title hobbies but then got to start asking some less
obvious questions who are their favourite thought leaders where do they like to shop podcasts
or books what’s their biggest challenge at work right now answers to these kinds of questions
will really help to develop the messaging positioning and even help to determine the best
strategies to use to reach intended audience.

4.COMPETITIVE ANALYSIS
Can’t move forward without knowing the competition and studying them should certainly
pay attention to their pricing their messaging how their advertising and even the way they
show up on social media. This will help to learn a lot about what should be doing but it will
also give insight into what don’t want to do. Studying about the competition will aid in
discovering much about marketing for the industry but it will also tell a ton about what makes
special and how can do things differently.

5.PRICING + POSITIONING
Pricing is an important part of positioning at the high end and low end need to figure out how
they fit into the market but of course positioning goes much farther than that. Once
understand our competition can identify the position in the market how are like them how are
they different are approaching to customer’s pain point from a unique angle when know more
about positioning can construct effective messaging and strategies to share that messaging
with the world.

6.MESSAGING
Messaging is so important based on competitive analysis and what see as unique position in
the market can begin to develop brand’s core messaging. As do this try to identify specific
words or phrases that will really speak to audience and speak directly to their pain points.
Love to develop messaging so much because it allows us to define a clear voice and tone for
the brand. Messaging done right will carve out clear market share for company and it will
speak straight to the heart of ideal customer.

7.STRATEGIES
Everything have done up until this point as been about research and defining own brand on a
core level. Now must take the next steps and determine the actual strategies will use to
market product or service. Start with competitive analysis what are the competitors are doing
are they on Instagram or linkedin are they utilizing paid ads or SEO this is a good opportunity
for to identify is working well and chose some strategies of own some marketing strategies to
consider include:

 Search engine optimization

 Content marketing
 Social media marketing
 Influencer marketing
 Paid advertising
 Networking and association membership
 Print materials like flyers or mailers
 Strategic partnerships

8.BUDGET
Executing any particular strategy is going to be near impossible if haven’t allocated a clear
budget for its implementation might need money for ads or money for someone to produce
content for anything all this needs to be worked out before you get started maybe a one
women show if that’s the case still need to set a budget for own pay check and also any
association fees, software might be using etc it’s valuable time and resources wasted anyone
to develop elaborate marketing plans when there’s only enough money to pay for
Google advertising at the end of the day.

9.TIMING
The marketing plan or campaign’s timing should be influenced by the following the
organization budget cycle (fiscal year or calendar year) seasonality (holiday shopping season
the super bowl etc organizational events (date of a new product launch store opening sales
promotion etc. A good campaign reflects a timeline to accommodate these circumstances but
a great marketing plan takes it a step further and projects how it will support sales revenue
milestones each month in order to provide cash flows here’s an example going back to our
kitchen design and installation client a simple of performance model is more than sufficient.
10.EXECUTION PLAN
Last but certainly not least is execution plan now that have set goals and identified strategies
that will help to reach those goals must create a plan for how each thing will be implemented.
Start with one goal at a time declaring when had like to achieve that goal by now work
backwards to see what milestones will have to achieve each day each month each quarter etc
to see that goal fruition now know which strategies need to implement.

Felling more prepared to tackle marketing strategy these 10 elements will be key to success
work through each one thoughtfully and thoroughly and be on way to rocking marketing
efforts and building a strong viable brand.

PRINCIPLES OF A MARKETING STRATEGIES

Well we can start making sure that effectively dive into the following 10 pillarsof
international marketing and integrate them into global marketing strategy may recognize 8 of
them which are derived from the 8Ps of marketing.

1.PEOPLE
The people are marketing to and the product that are marketing go hand in .However leading
off with the people because if don’t first and foremost understand who are marketing to may
end up trying to sell them a product they don’t want and probably will never buy. Instead of
tailoring their stores to fit the preferred of Europeans which is smaller shops as opposed to
large box stores best buy opened up brick and mortars that were used to. Get more into how
important the place is in which sell product internationally in a bit.

2.Product
If notice that the current offering of product now won’t play in the new market want enter
then can do one of two things decide not to sell in that market change offering to meet the
local demand. McDonald’s put in the work to understand the people they were about serve
and altered their offering to fit their palate overall this decision is an excellent one to learn
from for those looking to branch out to foreign markets. They had no alter their menu for just
about every one of countries.

3.Prices
For the most part if already have a product or service that is successful in one area of the
world the price point see won’t vary much in comparison to the competition in that area if
have a premium product it’s likely premium elsewhere if have a more affordable
economically friendly product be the same in new market. This is for the sake of consistency.
It’s difficult to pull off being associated as a more expensive premium product in one country
and the complete opposite in another may even risk bringing down brand image as a result.
But what if they created an entirely new separate brand to sell in a different country this tends
to be strategy that is often used in international product marketing.
4.Promotion

Figuring out the most effective methods for marketing product or service abroad is not that
much different than doing it domestically even if live where promoting product still have to
do some additional research to find out where target audience is and which mediums they
frequent obviously this doesn’t mean shouldn’t be advertising but this information does
suggest that perhaps focusing more effort on the leading site in geographical location but as
previously stated it will take a lot of research to figure these things out. Are certain markets
susceptible to buy one get one messages in retail stores.

5.Place
Defining where advertising and marketing product or service is one thing. But finding the
right place to actually sell offering is another. One of the bigger question should look to
answer is whether or not be able to sell product online. Meanwhile the U.S, U.K, Sweden
and France are on the other side of that spectrum as they are the 4 counties in terms of
average e-commerce revenue per online shopper.

6.Packaging
The way package product or service may vary a lot from country to country when determine
how to package offering colour is an important choice one reason for this is because different
areas of the world associate specific meanings to certain colours.

7.Positioning
Positioning is absolutely critical when entering a new market if initial positioning falls an
attempt to reposition product can be costly and is not guaranteed to be successful. This is why
it’s important to get it right the first time. A significant part of positioning will be evident in
the messages relay in marketing campaigns.

8.Physical Evidence
If looking to enter a new market abroad with a service listen up because this one is especially
for the company because services are for the most part considered intangible when it comes
to marketing so if there is no product that can altered or changed to fit the needs and wants of
a new market then have to pay attention to the physical evidence in the setting where people
will receive service.

Steps of Marketing Strategy

There are nine major steps required to develop a well crafted strategic marketing plan set
marketing goals conduct market research analyze the research identify target audience
determine a budget develop specific marketing strategies develop an implementation
schedule for the strategies and create an evaluation process.
1. Set Marketing Goals

Once we decided to market practice and need to set realistic and measurable goals to achieve
over next 18 to 24 months. This time span allows to plan activities ground community events
that are in line with marketing goals. Marketing can increase income introduce new providers
or improve practice image among other things. A strategic marketing plan requires to define

practice in terms of what it does for patients. Every goal strategy and action in marketing plan
is subject to change as evaluate in progress.

2. Conduct A Marketing Audit

A marketing audit is a review of all marketing activities that have occurred in practice over
the past three years be as through as possible making sure to review every announcement
advertisement phonebook ad open house brochure and seminar and evaluate whether it was
successful.

3. Conduct Market Research

The purpose of market research is to draw a realistic picture of practice the community
practice in and current position in that community practice in and the current position in that
community with the research make fairly accurate projections about future growth in the
community identify competitive factors and explore non traditional opportunities offering
patients nutritional counselling as well as solutions can implement right away.

4. Analyze the research

Next we need to analyze the raw data collect and summarize it into meaningful findings that
will be the foundation for determining which marketing strategies make the most sense and
will get the best results for practice. The research will identify the wants and needs of current
and potential patients and will help to define target audience.

5. Identify a Target Audience

With the help of market research analysis should be able to identify practice’s target audience
which is the specific group of patients to which could like to direct marketing efforts. Target
audience might include patients of a certain age, gender, location payer type. Keep in mind
that target audience should not only be the patients want to attract but also the people who
can influence and provide exposure to that segment of the population.

6. Determine a Budget

Before we decide what specific marketing strategies want to implement to achieve goals need
to examine financial information and come up with a marketing budget. Marketing budgets
vary by the type of market a practice is in the age of a practice and whether the practise has
marked before. There’s no standard for how much a practice should spend. However in our
experience practices in open markets annual gross income the first year implement the plan.
7. Develop Marketing Strategies

With the budget in place can begin to define specific marketing strategies that will address
goals reach target audience and build patient base. Remember to focus strategies on the
elements of practice that can be used to create a special value in the minds of patients and
referral sources. Each strategy should be related to a specific goal and should be made up of
numerous actions

8. Develop an Implementation Schedule

An implementation schedule is a time line that shows which marketing actions will be done
when and by whom. The schedule should also include the cost of each marketing action and
how it fits into the budget estimates for 24 month period when creating the schedule carefully
consider how the activities will affect the current practice operations whether there are
sufficient resources to accomplish the necessary tasks down list or postpone some activities.
9. Create an Evaluation Process

The value of a marketing plan is its effectiveness which requires deliberate and
timely implementation and monitoring and evaluation of results. It’s
important to measure results against the standards you set in establishing goals
review by comparing progress with the implementation schedule there are
several ways can measure the results of progress patient survey scores referral
sources increased income increased new patients and decreased complaints.
Chapter-2 Company profile

About Sony Company

2.1.1Introduction
Company History
Profile of the Company
Vision and Mission
Awards and Achievements
Products of Sony

Swot Analysis

Strategic network of Sony company

Sony Corporation, commonly referred to as Sony, is a Japanese multinational
conglomerate corporation headquartered in Kōnan, Minato, Tokyo, Japan. It
ranked 73 on the 2011 list of Fortune Global 500. Sony is one of the leading
manufacturers of electronics products for the consumer and professional
markets.

Sony Corporation is the electronics business unit and the parent company of the
Sony Group, which is engaged in business through its six operating segments –
Consumer Products & Services Group (consumer electronics, game & network
services), Professional, Device & Solutions Group (B2B products & services),
Pictures, Music, Financial Services and Sony Ericsson. These make Sony one of
the most comprehensive entertainment companies in the world.

The Sony Group is a Japan-based corporate group primarily focused on the

Electronics (such as AV/IT products & components), Game (such as
PlayStation), Entertainment (such as motion pictures and music), and Financial
Services (such as insurance and banking) sectors. The group consists of Sony
Corporation (holding & electronics), Sony Computer Entertainment (game),
Sony Pictures Entertainment (motion pictures), Sony Music Entertainment
(music), Sony Financial Holdings (financial services) and others.
 Sony group headquarters at Sony city in Minato , Tokyo

2.1.2 Company’s History....

In late 1945, after the end of World War II, Masaru Ibuka started a radio repair
shop in a bomb-damaged department store Shirokiya building in Nihonbashi of
Tokyo. The next year, he was joined by his colleague, Akio Morita, and they
founded a company called Tokyo Tsushin Kogyo K.K., (Tokyo
Telecommunications Engineering Corporation). The Company built Japan's first
tape recorder, called the Type-G. In the early 1950s ,Ibuka traveled in the
United States and heard about Bell Labs' invention of the transistor. He
convinced Bell to license the transistor technology to his Japanese company.
While most American companies were researching the transistor for its military
applications, Ibuka and Morita looked to apply it to communications. Although
the American companies Regency Electronics and Texas Instruments built the
first transistor radio as joint venture, it was Ibuka's company that made them
commercially successful for the first time.

In August 1955, Tokyo Tsushin Kogyo released the Sony MK-55, Japan's first
commercially produced transistor radio. They followed up in December of the
same year by releasing the Sony TR-72, a product that won favour both within
Japan and in export markets, including Canada, Australia, the Netherlands and
Germany. Featuring six transistors, push-pull output and greatly improved
sound quality, the TR-72 continued to be a popular seller into the early sixties.

In May 1956, the company released the TR-6, which featured an innovative
slim design and sound quality capable of rivaling portable tube radios. It was for
the TR-6 that Sony first contracted "Atchan", a cartoon character created by
Fuyuhiko Okabe, to become its advertising character. Now known as "Sony
Boy", the character first appeared in a cartoon ad holding a TR-6 to his ear, but
went on to represent the company in ads for a variety of products well into the
mid-sixties. The following year, 1957, Tokyo Tsushin Kogyo came out with the
TR-63 model, then the smallest (112 × 71 × 32 mm) transistor radio in
commercial production. It was a worldwide commercial success.

From the University of Arizona, Professor Michael Brian Schiffer, PhD, says,
"Sony was not first, but its transistor radio was the most successful. The TR-63
of 1957 cracked open the U.S. market and launched the new industry of
consumer microelectronics." By the mid-1950s, American teens had begun
buying portable transistor radios in huge numbers, helping to propel the
fledgling industry from an estimated 100,000 units in 1955 to 5,000,000 units
by the end of 1968.

Sony's headquarters moved to Minato, Tokyo from Shinagawa, Tokyo around

the end of 2006.

Origin of name…

When Tokyo Tsushin Kogyo was looking for a romanized name to use to
market themselves, they strongly considered using their initials, TTK. The
primary reason they did not is that the railway company Tokyo Kyuko was
known as TKK. The company occasionally used the acronym "Totsuko" in
Japan, but during his visit to the United States, Morita discovered that
Americans had trouble pronouncing that name. Another early name that was
tried out for a while was "Tokyo Teletech" until Akio Morita discovered that
there was an American company already using Teletech as a brand name.

The name "Sony" was chosen for the brand as a mix of two words. One was the

Latin word "Sonus", which is the root of sonic and sound, and the other was
"Sonny", a familiar term used in 1950s America to call a boy. The first Sony-

branded product, the TR-55 transistor radio, appeared in 1955 but the company
name did not change to Sony until January 1958.

At the time of the change, it was extremely unusual for a Japanese company to
use Roman letters to spell its name instead of writing it in kanji. The move was
not without opposition: TTK's principal bank at the time, Mitsui, had strong
feelings about the name. They pushed for a name such as Sony Electronic
Industries, or Sony Teletech. Akio Morita was firm, however, as he did not
want the company name tied to any particular industry. Eventually, both Ibuka
and Mitsui Bank's chairman gave their approval.
Profile of the Company….

 Company Name: Sony Corporation

 Founded: May 7, 1946

 Headquarters: 1-7-1 Konan, Minato-ku, Tokyo, Japan.

 Major Research Centre: (in Japan) Tokyo, Kanagawa,Miyagi

 Consolidated Sales &

Operating revenue : 7,181,300 million yen

(2010)

Vision and Mission….

Vision

To create exciting new digital entertainment experiences for consumers by

bringing together cutting-edge products with latest generation content and
services.

Mission

Sony is committed to developing a wide range of innovative products and

multimedia services that challenge the way consumers access and enjoy digital
entertainment. By ensuring synergy between businesses within the organisation,

Sony is constantly striving to create exciting new worlds of entertainment that

can be experienced on a variety of different products.

Awards and Achievements….

Sony has won a number of awards worldwide. At Dubai on March 2009

- Sony announced that it has won 17 International Forum Design (iF)

Product

Design Awards, including three coveted gold awards, at a ceremony held on 3rd
March 2009- the first day of the CeBit trade fair in Hanover, Germany.

Honouring exceptional design for over half a century, the iF Design Award
2009 attracted almost 3,000 entries from 39 different countries. An independent
design institution, iF has a longstanding reputation for supporting and
recognising designs within the industry.

□ iF product design gold awards

✓ Digital Still Camera Cyber-shot™ DSC-T700

✓ Digital Still Camera Cyber-shot™ DSC-T77

✓ Active Style Headphones Series

□ iF product design awards 2009

✓ BRAVIA EX1 Picture Frame LCD TV (This product is not available for
sale in the Middle East)

✓ OLED TV XEL-1 (This product is not available for sale in the Middle
East)

✓ Home Theater System DAV-F500

✓ Digital Camcorder Handycam® DCR-SR85/75/65/55/46/45/36/35(E) &

Soft Carrying Case LCS-SRC

✓ HDV Camcorder HVR-Z7

✓ Digital SLR Camera α350

✓ Digital SLR Camera α900

✓ Digital Photo Frame Canvas Online VGF-CP1

✓ Digital Photo Frame S-Frame DPF-V Series

✓ Active Speaker System Sountina NSA-PF1

✓ Headphones MDR-EX500

✓ Linear PCM Recorder PCM-D50 (This product is not available for sale in
the Middle East)

✓ Digital Audio Player WALKMAN® S Series

✓ USB Flash Drive Micro Vault USM-LX/L Series

□ Sony India has won an award at the Avaya Global connect Customer
Responsiveness Awards 2006 held at Mumbai’s ITC Grand Central on January
19, 2007

□ Sony’s recently launched D-SLR camera, the 100 has been awarded the
prestigious EISA award for the Best Consumer Camera for the year 2006-

07. EISA (European Imaging and Sound Association).

Company Outline In India….

Company: Sony India Pvt. Ltd.

Managing Director: Mr. Masaru Tamagawa

Date of Establishment: November 17, 1994

Location:A-31, Mohan Cooperative Industrial Estate, Mathura Road, New

Delhi - 110044, India.

Staff Strength: 728

Share Capital: Rs. 550 million

Share Holding:100% subsidiary of Sony Corporation, Japan

Branch Offices:Delhi, Haryana, Mumbai, Bangalore,

ChennaiKolkata,Hyderabad, Vijayawada, Jaipur, Chandigarh, Lucknow, Pune,
Ahmedabad, Indore, Cochin, Coimbatore, Ghaziabad, Guwahati, Mangalore
and Ranchi

Business Activities: Marketing, Sales and After-Sales Service ofelectronic

products & software exports

Products: Televisions, Hi-fi Audios, Home Theater systems and DVD

players, Personal Audio (CD/Cassette Radio Players and Walkman), Audio
Video Accessories, Car Audio and Visual Systems, Notebooks, Gaming
Consoles, Camcorders and Digital Still Cameras, Digital Imaging Accessory
(Batteries, Chargers, Microphone, Photo Printers), Mobile Phones, Recording
Media and Energy Devices, Broadcast and Professional products.
Managerial Aspects….

➢ Representative Corporate Executive Officers

□ Howard Stringer: Chairman, CEO and President

Officer in charge of Product Quality & Safety and Environmental Affairs

□ Kazuo Hirai : Executive Deputy President

Officer in charge of the Consumer Products and Services Businesses

➢ Corporate Executive Officers

□ Hiroshi Yoshioka : Executive Deputy President

Officer in charge of the Professional, Device & Solutions businesses

□ KeijiKimura : EVP

Officer in charge of Intellectual Property and the Disc Manufacturing business

□ Nicole Seligman : EVP and General Counsel

□ Masaru Kato : EVP and CFO

❖ Competitors achieving most of Sony’s customers due to the fact that their
products are achieving various market types.
 Products of the company….

PlayStation

VAIO laptops

Sony Ericsson Mobile

 Z610 a 3G mobile

Radio

This retro radio is called the XDR-S16DBP

Sony Lcd TVs

o Bravia TVs of various size

o Smart TVs
o Hd TVs
o Plasma TVs

Sony Cyber-shot cameras and Handycams

Storage Devices

• Pen drives

• Compact disc and Dvd

More about Sony products

Green TV

For sale in Japan on 30 July 2008, Sony's green product, new flat-panel 32-inch
(810 mm) TV 150,000 yen (US$ 1,400; € 900)SonyBravia KDL- 32JE1 offers
ecological consumers' advantages of less energy consumption (70% less) than
regular models with the same image quality. It is one of the least power
consuming LED TV. Sony was able to reduce carbon dioxide emissions
totalling 79 kilograms (174 pounds) a year, without sacrificing quality by
developing a brighter back light and better filtering, which produces light more
efficiently. The TVs will have liquid crystal displays along with high-definition
digital broadcast capabilities.
2.2 S.W.O.T Analysis….

Strengths

❖ Sony able to create high quality products for its customers.

❖ History of products shows that the business is very reputable.

❖ Engineers have learnt from the past failures and so they can produce and
work better

❖ The company is very competitive towards other companies.

❖ Sony is able to expand its market sand work to produce various products.

Weaknesses

❖ Within the last few years Sony has been making a loss with a few of its
products.

❖ Sales of all products are seemingly starting to slow down.

❖ The company has no sense of direction and is not being managed

properly.

❖ The functional departments within the organisation are not

communicating

with one another and so productivity has decreased.

Opportunities

❖ The engineering department has increased in size and so therefore are

working harder.
❖ Sony is known not to copy any of its competitors and so more reputation
is gained

❖ The marketing department has increased advertising techniques in order

to
attract new customers
❖ Sony is trying to sell their high quality products cheaper to attract
customers
❖ Sony Corporation may decide to expand more overseas.

Threats

❖ Sony Corporation has competitors which are more powerful, such as

Microsoft.
❖ Recent reports show that most of their products are forged and sold as
fakes, which means that some of Sony’s reputation is decreased.
❖ Sony also lacks the direction of strategy which means its competitors
could
be doing better.
 Executive Members of the Board

Kenichiro Yoshida

Hiroki Totoki
Shuzo Sumi

Chairman of the Board

Chair of Nominating Committee

Tim Schaaff
Toshiko Oka*

Chair of Audit Committee

Sakie Akiyama*

Member of Compensation Committee

Wendy Becker*

Chair of Compensation Committee

Member of Nominating Committee

Yoshihiko Hatanaka*

Member of Nominating Committee

Member of Compensation Committee

Keiko Kishigami*

Member of Audit Committee

Chairman, President and CEO

Kenichiro Yoshida**
SONY SET OUT its plans for the coming financial year Thursday and stated an
intention to move from being a consumer electronics maker to a "personal
broadband network solutions company" in time for the coming of the broadband
network era, which the company predicts will arrive by 2005.
For the coming year, Sony is focusing on three main areas: the redefinition of
corporate headquarters to put it at the center of strategic initiatives and vision,
strengthening of its core electronics business, and building up its network-based
content distribution services.
Key to the first of these is the creation of a unit with the corporate headquarters
that will work on strategies for Sony's worldwide assault on the broadband
networking sector. Led by Chairman and CEO Nobuyuki Idei, President and
COO Kunitake Ando, and Executive Deputy President and CFO
TeruhisaTokunaka, the unit will focus on big-picture strategies and what it
called "think tank initiatives." The new unit will also include the strategic
business functions of Sony's increasing financial sector business and its U.S.
entertainment business.
The electronics business, including its games and Internet and communications
services business, will also be reorganized under a single headquarters under the
command of Ando. Part of his work will be to push for integration of network
functions into all products from personal digital assistants to desktop computers,
digital televisions, and the PlayStation. The company anticipates these devices
and mobile phones will be key access devices for future broadband networks.
In the area of network content, Sony said it plans to distribute music and movies
digitally over broadband networks and is already testing such systems in the
United States, with a view to launching commercial services this year. It also is
continuing to work on the digital distribution of music, expanding a service
already available in Japan, and plans to tie in online financial services to all of
these systems.
Sony has already begun taking its first steps in many of these areas although the
new business plan will stress much more synergy between these initiatives
across the group. Sony Finance International's payment system, for example,
will be made standard across the group, encouraging customers to use Sony's
planned online bank because of the increased convenience that such a platform
will offer.
This focus on broadband doesn't mean the company is abandoning other areas
of research and development, it said. The company plans to strengthen its
activities in the key system LSI (large-scale integration) and display technology
divisions because of their strategic importance to the electronics business.
Officer in charge of Digital Transformation Strategy, Information Systems, and

Information Security

Senior General Manager, Corporate DX Office

Natsuko Takei

Officer in charge of Legal, Compliance, and Privacy

Senior General Manager, Legal Department

Izumi Kawanishi

Officer in charge of AI Robotics Business

Senior General Manager, AI Robotics Business Group

Representative Director, President and CEO, Sony Mobility Inc.

CHAPTER- 3 - RATIONALE OF THE STUDY

Objective of the study

Limitations of the study
Research methodology
 OBJECTIVE OF STUDY

Ø To study the selling strategy of sony electronics.

Ø Tostudy the pricing strategy of Sony electronics.

Ø Tostudy the promotional strategy of Sony electronics.

 LIMITATONS OF THE STUDY

1) Time constraint serves as the main limitation for the study.

As the project study is vast nature and customer has less time to
give answer.

2) Language barrier is also a big limitation for customer as

well as interviewer.

3) Study is area specific

 RESEARCH METHODOLOGY

Primary sources
In order to gather information about the various products, I personally took help
of the google docs and collected data pertaining to the prices of the products
offered. The market visits were not possible in this pandemic period for
knowing the comparative prices and quality of the offered brands vis-à-vis the
competitive brands. Detail regarding the quality of the products were collected
and I also inquired about the various sales promotion schemes followed by the
these companies. By interviewing these dealers valuable information was
collected. I inquired from them about their marketing advertising and
distribution strategies.

Secondary sources
Information was collected from secondary sources such as public libraries,
newspapers, business magazines. Beside these the use of Internet was also made
in collecting relevant information. The data collected from the above mentioned
sources has been adequately structured and used at appropriate places in the
report. This particular way of data collection was used because of its low cost
(except data collected through surfing the internet) and less time consumption.
CHAPTER 4 QUESTIONNAIRE
 Do you agree that the Sony products was worth the purchase price ?

A. Strongly agree D. Strongly disagree

B. Agree E. Neither agree nor disagree
C. Disagree

(a)PARAMETER NO.OF RESPONDENTS PERCENTAGE

) STRONGLY AGREE 45 45%

(B) AGREE 30 30%

(C) DISAGREE 18 18%

(D)STRONGLY 5 5%
DISAGREE

(E) NEITHER AGREE 2 2%

NOR DISAGREE

TOTAL 100 100%

INTERPRETATION- From the above data it can be inferred that out of 100
respondents ,45 respondents strongly agree,30 respondents just agree,18
respondents disagree, 5 respondents strongly disagree and 2 respondents neither
agree nor disagree that the Sony products was worth the purchase price.
 Do you think that the products of Sony company are more durable in
comparison of other company products ?

A. Yes C. Cant say

B. No

PARAMETER NO. OF PERCENTAGE

RESPONDENTS

(A)YES 59 59%

(B)NO 27 27%

(C)CANT SAY 14 14%

TOTAL 100 100%

INTERPRETATION- From the above data it can be inferred that out of 100
respondents, 59 respondents say yes, 27 respondents say no and 14 respondents
say that they cant say that the products of Sony company are more durable in
comparison of other company products
 Do you agree that the Sony products differentiate in terms of technology
and design ?

A. Strongly agree D. Strongly disagree

B. Agree E. Neither agree nor disagree
C. Disagree

PARAMETER NO. OF RESPONDENTS PERCENTAGE

(A) STRONGLY AGREE 39 39%

(B) AGREE 28 28%

(C) DISAGREE 17 17%

(D) STRONGLY DISAGREE 7 7%

(E) NEITHER AGREE NOR 9 9%

DISAGREE

TOTAL 100 100%

INTERPRETATION- From the above data it can be inferred that out of 100
respondents , 39 respondents strongly agree , 28 respondents just agree, 17
respondents disagree, 7 respondents strongly disagree, 9 respondents neither
agree nor disagree that the Sony products differentiate in terms of technology
and design.
 Do you agree that the Sony brand fulfills the status need ?

A. Strongly agree D. Strongly disagree

B. Agree E. Neither agree nor disagree
C. Disagree

PARAMETER NO. OF PERCENTAGE

RESPONDENTS

(A)STRONGLY AGREE 36 36%

(B) AGREE 26 26%

(C)DISAGREE 22 22%

(F) STRONGLY 7 7%
DISAGREE
(E)NEITHER AGREE 9 9%
NOR DISAGREE

TOTAL 100 100%

INTERPRETATION- From the above data it can be inferred that out of 100
respondents ,36 respondents strongly agree, 26 respondents agree, 22
respondents disagree, 7 respondents strongly disagree and 9 respondents neither
agree nor disagree that the Sony brand fulfills the status need.
 Do you agree that the television and home theater products of Sony brand
are better than any other brands television and home theater ?

A. Strongly agree D. Strongly disagree

B. Agree E. Neither agree nor disagree
C. Disagree
PARAMETER NO. OF RESPONDENTS PERCENTAGE

(A)STRONGLY AGREE 42 42%

(B)AGREEE 28 28%

(C)DISAGREE 17 17%

(D)STRONGLY 6 6%
DISAGREE

(E)NEITHER AGREE NOR 7 7%

DISAGREE

TOTAL 100 100%

INTERPRETATION- From the above data it can be inferred that out of 100
respondents , 42 respondents strongly agree, 28 respondents just agree, 17
respondents disagree, 6 respondents strongly disagree and 7 respondents neither
agree nor disagree that the television and home theater products of Sony brand
are better than any other brands television and home theater.
 Are you satisfied with the additional purchase services of Sony brand ?

A. Satisfied C. Highly Dissatisfied

B. Dissatisfied D. Highly Satisfied

PARAMETER NO. OF RESPONDENTS PERCENTAGE

(A) SATISFIED 50 50%

(B) DISSATISFIED 28 28%

(C) HIGHLY 16 16%

DISSATISFIED
(D) HIGHLY SATISFIED 6 6%

TOTAL 100 100%

INTERPRETATION- From the above data it can be inferred that out of 100
respondents , 50 respondents are satisfied , 28 respondents are dissatisfied, 16
respondents are highly dissatisfied , 6 respondents are highly dissatisfied with
the additional purchase services of Sony brand .
 Are you able to find Sony products easily near by your area ?

A. yes C. Cant say

B. No

PARAMETER NO. OF PERCENTAGE

RESPONDENTS

(A)YES 52 52%

(B)NO 33 33%

(C)CANT SAY 15 15%

TOTAL 100 100%

INTERPRETATION- From the above data it can be inferred that out of 100
respondents , 52 respondents say yes , 33 respondents say no , 15 respondents
 say that they can say that they are able to find Sony products easily near by your
area.

Do you think that the brand Sony provides a good warranty scheme for its
products ?

A. Yes C. Cant say

B. No

PARAMETER NO. OF PERCENTAGE

RESPONDENTS

(A)YES 42 42%

(B)NO 42 42%

(C)CANT SAY 16 16%

TOTAL 100 100%

INTERPRETATION- From the above data it can be inferred that out of 100
respondents , 42 respondents say yes , 42 respondents say no and 16
respondents say that they cant say that the brand Sony provides a good warranty
scheme for its products.
 Do you think that the brand Sony provides a good EMI on its product ?

A. Yes C. Cant say

B. No

PARAMETER NO. OF PERCENTAGE

RESPONDENTS

(A)YES 48 48%

(B)NO 31 31%

(C)CANT SAY 21 21%

TOTAL 100 100%

 respondents , 48 respondents say yes, 31 respondents say no and 21 respondents
say that they cant say that the brand Sony provides a good EMI on its products.

DO you agree that the appearance of brand Sony is better than any other
brand ?

A. Agree D. Strongly disagree

B. Strongly agree E. Neither agree nor disagree

C. Disagree

PARAMETER NO. OF PERCENTAGE

RESPONDENTS

) AGREE 37 37%

(B)STRONGLY AGREE 25 25%

(C)DISAGREE 21 21%

(D)STRONGLY 14 14%
DISAGREE

(E)NEITHER AGREE 3 3%
NOR DISAGREE

TOTAL 100 100%

INTERPRETATION-
INTERPRETATION- From the above
From data it can
the above databeitinferred
can bethat out of 100
inferred thatrespondents , 37
out of 100
respondents just agree, 25 respondents strongly agree, 21 respondents disagree, 14
respondents strongly disagree and 3 respondents neither agree nor disagree that the
appearance of brand Sony products is better than any other brand.

Would you like to prefer the products of Sony brand to others ?

A. Yes

B. No

C. Cant say

PARAMETER NO. OF PERCENTAGE

RESPONDENTS

(A)YES 47 47%

(B) NO 29 29%

(C)CANT SAY 24 24%

TOTAL 100 100%

 respondents , 47 respondents say yes, 29 respondents say no and 24
respondents say that they cant say that they would like to prefer the products of
Sony brand to others.

Do you agree that the products of brand Sony act as status symbol for high
class people ?

A. Strongly agree
B. Agree
D. Strongly disagree
C. Disagree
E. Neither agree nor disagree

PARAMETER NO. OF PERCENTAGE

RESPONDENTS

(A)STRONGLY AGREE 36 36%

(B)AGREE 21 21%

(C)DISAGREE 22 22%

(D)STRONGLY 17 17%
DISAGREE
(E) NEITHER AGREE 4 4%
NOR DISAGREE
TOTAL 100 100%
INTERPRETATION
INTERPRETATION-- From From the
the above data it can be inferred
inferred that
that out
out of
of 100
100
respondents , 36 respondents strongly agree , 21 respondents just agree, 22
respondents disagree, 17 respondents strongly disagree and 4 responds neither
agree nor disagree that the products of brand Sony act as a status symbol for
high class people.

What would be your rating about the after sales service of brand Sony ?

A. Excellent D. Poor
B. Good E. Very poor
C. Average

PARAMETER NO.OF PERCENTAGE

RESPONDENTS

(A)EXCELLENT 38 38%

(B)GOOD 31 31%

(C)AVERAGE 21 21%

(D)POOR 8 8%

(E)VERY POOR 2 2%

TOTAL 100 100%

respondents , 38 respondents say excellent , 31 respondents say good , 21
respondents say average , 8 respondents say poor and2 respondents say very
poor regarding the rating for the after sales service of brand Sony.

Would you like to purchase of Sony brand in future ?

A. Yes

B. No

C. Cant say

PARAMETER NO.OF PERCENTAGE

RESPONDENTS

(A)YES 47 47%

(B)NO 33 33%

( C) CANT SAY 20 20%

TOTAL 100 100%

INTERPRETATION- From the above data itit can can be
be inferred
inferred that
that out
out of
of 100
100
respondents , 47 respondents say yes , 33 respondents say no , 20 respondents
say that they cant say that they would like to purchase the products of Sony
brand in future.

How much you would you like to rate for the products of brand Sony ?

A. 5 STARS C. 3 STARS

B. 4 STARS D. 2 STARS

PARAMETER NO.OF PERCENTAGE

RESPONDENTS

(A)5 STARS 28 28%

(B)4 STARS 36 36%

(C)3 STARS 21 21%

(D)2 STARS 15 15%

TOTAL 100 100%

INTERPRETATION- From the above data it can be inferred that out of 100
respondents 28 respondents has given 5 stars rating, 36 respondents has given 4
stars rating , 21 respondents has given 3 stars rating and 15 respondents has
given 2 stars rating for the products of brand Sony.
CHAPTER – 5

Findings of the study

Suggestions of the study

Conclusion
FINDINGS OF THE STUDY

 According to research of 30 days in Sony India ltd, it reveals that Sony is

real as well as a great leader in electronic and consumer durable.

 Sony has credibility in these products.

 Sony as a brand is so popular in rich class people; they think it is nothing

but a statussymbol.

 Sony is facing tough competition with Samsung & LG because of

reasonable price & quality

 But when considered service attitude, one pricing policy, promotion

policy, quality ofa product, professional appearance & knowledge of staff

regarding product features and function, Sony is ahead from other

electronic brand.

 Sony plays a vital role in consumer durable market .

Suggestions of the study

The study is aimed at analyzing selling strategy and customer satisfaction with
sample 100 members,which has helped in getting an overall view of customer
satisfaction towards the brand sony considering different criteria.

 Recommendation brand Sony should take some initiatives to improve its

selling strategy to attract huge number of customers.

 Brand Sony should enhance its brand image to attract large number of
customers.

 Large range of products is increasing the gap between supply and

demand. Brand Sony should standardize the products. Product should be
available at the time of demand sales and marketing should be proactive
and should plan before the demand by estimations .
Conclusion

 Sony Corporation has a long history of innovative development,

strong
 branding, and excellent quality that has made it a technological leader for
many years.

 Sony's primary market is technology, but over the years, the company has
branched out into other areas, namely gaming and entertainment.

 Sony's marketing is tailored to each product and its respective market

 Sony's strategyseemed to be that in such discouraging times, people just

want to have fun.

 Here by it can be concluded that Sony has great strengths in its strong
branding and many decades of excellent reputation for quality which has
taken the company to great achievements of it history and made it a well-
known brand all-over the world