Institute of Southern Punjab (ISP) Multan

Southern Business School (SBS)

Assignment No: 03

Discipline: BBA

Section:B

Date:16/05/20

Subject: Entrepreneurship

Student Name:Muhammad Asim

Student Reg #: BBA-023R16-82

Student Signature: Asim

Submitted to:Sir Muhammad Azhar

 Question#
Briefly explain marketing mix strategies with an example?
Answer

The marketing mix

The marketing mix is one of the most famous marketing terms. The marketing mix is the
tactical or operational part of a marketing plan. The marketing mix is also called the 4Ps and
the 7Ps. The 4Ps are price, place, product and promotion. The services marketing mix is also
called the 7Ps and includes the addition of process, people and physical evidence.
The marketing mix is . . . The set of controllable tactical marketing tools – product, price,
place, and promotion – that the firm blends to produce the response it wants in the target
market.

Kotler and Armstrong (2010).

The concept is simple. Think about another common mix – a cake mix. All cakes contain
eggs, milk, flour, and sugar. However, you can alter the final cake by altering the amounts of
mix elements contained in it. So for a sweet cake add more sugar!

It is the same with the marketing mix. The offer you make to your customer can be altered by
varying the mix elements. So for a high profile brand, increase the focus on promotion and
desensitize the weight given to price.
Price
Price is the amount the consumer must exchange to receive the offering.

Solomon et al (2009).

The company’s goal in terms of price is really to reduce costs through improving
manufacturing and efficiency, and most importantly the marketer needs to increase the
perceived value of the benefits of its products and services to the buyer or consumer.

Place
Place includes company activities that make the product available to target consumers.

Kotler and Armstrong (2010).

Place is also known as channel, distribution, or intermediary. It is the mechanism through

which goods and/or services are moved from the manufacturer/ service provider to the user or
consumer.

Product
Product means the goods-and-services combination the company offers to the target
market.

Kotler and Armstrong (2010).

For many a product is simply the tangible, physical item that we buy or sell. You can also
think of the product as intangible i.e. a service.

In order to actively explore the nature of a product further, let’s consider it as three different
products – the CORE product, the ACTUAL product, and finally the AUGMENTED
product.

Promotion
Promotion includes all of the activities marketers undertake to inform consumers about
their products and to encourage potential customers to buy these products.

Solomon et al (2009).

Promotion includes all of the tools available to the marketer for marketing communication.
As with Neil H. Borden’s marketing mix, marketing communications has its own promotions
mix. Whilst there is no absolute agreement on the specific content of a marketing
communications mix, there are many promotions elements that are often included such as
sales, advertising, sales promotion, public relations, direct marketing, online communications
and personal selling.
Physical Evidence
(Physical evidence is) . . . The environment in which the service is delivered, and where
the firm and customer interact, and any tangible components that facilitate performance
or communication of the service.

Zeithaml et al (2008)

Physical Evidence is the material part of a service. Strictly speaking there are no physical
attributes to a service, so a consumer tends to rely on material cues. There are many examples
of physical evidence, including some of the following buildings, equipment, signs and logos,
annual accounts and business reports, brochures, your website, and even your business cards.

People

(People are) . . . All human actors who play a part in service delivery and thus influence
the buyers’ perceptions; namely, the firm’s personnel, the customer, and other customers
in the service environment.

Zeithaml et al (2008).

People are the most important element of any service or experience. Services tend to be
produced and consumed at the same moment, and aspects of the customer experience are
altered to meet the individual needs of the person consuming it.

Process
Process is) . . . The actual procedures, mechanisms, and flow of activities by which the
service is delivered – this service delivery and operating systems.

Zeithaml et al (2008).

There are a number of perceptions of the concept of process within the business and
marketing literature. Some see processes as a means to achieve an outcome, for example – to
achieve a 30% market share a company implements a marketing planning process. However
in reality it is more about the customer interface between the business and consumer and how
they deal with each other in a series of steps in stages, i.e. throughout the process.

Sony Marketing Mix

Introduction
Sony was founded in 1945 by partners Masaru Ibuka, (an engineer), and Akio Morita, (a
physicist),and was originally named Tokyo Tsushin Kogyo (Tokyo Telecommunications
Engineering). The firm was launched in Nihonbashi, Tokyo .
 Product
 Audio – Home, portable and car as well as personal navigation systems
 Video – Video cameras, digital cameras, DVD/Video players & recorders
 Televisions – LCD televisions, Projection televisions CRT-based televisions
 Information and computers – personal computers, printers
 Semiconductors- LCD, CCD, and other types of semiconductors
 Games – PlayStation
 Television and motion pictures
 The company offers a Sony Card and a PlayStation card, these are rewards cards credit cards
which allows customers to earn redeemable points when they purchase Sony products and
services

Price
 HVRA1U C-MOS 1080i HDV Camcorder – Broadcast & Promotion- U.S. List price -
$2,750.00.
 XCL5005 5 Mega Pixel PoCL B/W Digital Video Camera- Industrial & Professional U.S.
List price – $4,377.00.
 Total Performance Projector VPLDX10-2500 Lm 3LCD XGA Mobile Projector-U.S. List
Price – $1,410.00.
 Medical Equipment Monitors & Displays GXDL52H1 52inch Full Hd Ruggedized LCD-U.S.
Listed Price – $5,700.00.
 Security Systems – SNCCH140 Network 720p HD Fixed Camera with View-DR Technology
U.S. List price – $1,298.00.
 Video Conference Devices PCSG70S – 4 Mbps High-End Video Communication System
(Codec Only) U.S. List price $8,200.00

Place
 Sony has an online presence in several formats, for
example http://pro.sony.com/bbsc/home.do provides information on products and their prices.
The site also has information on corporate applications for its offerings.
 Sony Product distributors that sell selling to VARs + System Integrators include: ASI Corp,
Avnet Inc. and Bell Microproducts, Microland Electronics Corp.
 Wholesale distributors of Sony Products include but are not limited to : Best wholesale co.
Ltd, Dongsheng International Trade Co. Ltd, Denzuke Network Sdn. Bhd., Front-Page Trade
Co., Ltd.

Promotion
 The company offers a Sony Card and a PlayStation Card, these are rewards cards credit cards
which allows customers to earn redeemable points when they purchase Sony products and
services.
 Sony implements a discount coupon program offering 25% to 50% discounts on products
such as PC speakers, Blue-Ray Disc Players, notebooks and laptops.
 Sony’s Rebate Zone website provides rebates such as the following $500.00 rebate (by mai)l
following the purchase of a Sony HVR-V1U HDV Camcorder or a Sony HVR-DR60 Hard
 Disk Recorder/Player or a $300.00 rebate by mail following the purchase of a Sony HVR-
A1U HDV Camcorder.
 Process
 Sony employs an umbrella branding strategy by placing the product name along with
corporate name. This strategy lets the product to assume its own identity and positioning, but
also draws strength of the corporate brand. The goal is to bolster consumer confidence in the
product. Sony has used this strategy to launch new products.
 The company’s focus on its research and development (R&D) activities is evident in its
expenditure of over $5 billion in 2009. The strong focus on R&D helped the company to
launch technologically innovative products in the market. The strong focus on R&D would
thus enable the group to revive its product base as needs are indicated by customers.
Examples of this strategy include the introduction of BRAVIA, ZX1, a thin, lightest LCD TV
featuring LED edge lighting; The VAIO P Series notebook computer (the world’s lightest 8-
inch notebook PC) and the Cyber-shot HX1 compact digital camera (which allows users to
capture wide-angle of 224 degrees views).
 Sony operates from a philosophy it labels “uniquely Sony”. The company seeks to facilitate
the development of its staff but spurs employees to manage their own career and but to avoid
pigeon-holing. This is a microcosm of the company’s desire to foster adaptability. The
company’s broad outlook extends to its corporate responsibility.
 The desire to make its hardware and interfaces that are easy to use was a catalyst behind
recent reorganization of electronics into “Personal” and “Home categories. The company has
reaffirmed its commitment to make the “Home” category more user-friendly.
 Sony has adopted a “Company of Committees” governance system in order to go beyond
minimum compliance with legal requirements and to add additional transparency. To
accomplish this, the company has revised some Directors’ functions to facilitate the proper
functions of statutory committees.
 Sony has a recently reorganized in order to further improve responsiveness and customer
service. It has established a network of services tailored to the needs of local customers. The
move acknowledges the growing complexity of its products. The company formed Sony
Customer Services, Inc and has intiated special employee training to enhance its ability to
respond to customers inquiries and requests.
 Sony seeks to instill corporate social responsibility policies throughout its supply chain. For
example Sony established the Green Partner Environmental Quality Approval Program for
Sony suppliers. Sony maintains a common global quality standard for parts by purchasing
electronic parts only from suppliers who have passed an audit and have been certified as
Green Partners.

Physical Evidence
 Sony Corporation Headquarters is located at 1-7-1 Konan, Minato-ku Tokyo
 Other locations of subsidiaries include Sony Corp of America at 550 Madison Avenue in
New York, Sony Electronics of Latin America 5201 Blue Lagoon Dr Suite 300, Miami
Florida, and Sony Electronics 12451 Gateway Dr, Fort Myers
Florida
 In 1994 Sony opened its Wonder Technology Lab which is a free interactive technology and
entertainment museum located at 56th street and Madison Avenue in New York City. The
Museum is open to all ages.
 Sony Plaza at 56th Street and Madison Avenue in New York City. The company
compliments the facility with a website at http://wondertechlab.sony.com/index.html
 Sony’s main company website provides helpful information ranging from service and
support, music, electronics and gaming as well as a range of shopping alternatives.

People
 Howard Stringer is Chairman, CEO and President of Sony
 Hiroshi Yoshio is Executive Deputy President of Consumer Products & Devices Group
(NPSG).
 Kazuo Hirai is Executive Vice President of Networked Products & Services Group
 Sony employs 167,900 people world wide
 Sony has an ongoing talent development initiative . In 2008, the company created 13 global
talent directors who are assigned to identify promising individuals in all businesses and
regions and develop them into future business leaders. This initiative also includes a job
rotation project with individuals moving through a schedule of job assignments designed to
give them exposure to a variety of businesses and regions.