What, if anything, should Sony do to turn around the sales of the PS3? What has

Question

What, if anything, should Sony do to turn around the sales of the PS3?

What has been Sony’s strategic approach with regard to new product development?

What are the key success factors in the video gaming industry today? Are these the same as in the past?

What was Sony’s marketing program for the launch of the PS3?

What is the competitive advantage of the PS3?

What are the weaknesses of the PS3? Compare the marketing program of the Nintendo Wii to the PS3. How are they different?

What are the main problems or issues of the case? Include both internal and external issues.

What alternatives have been attempted to resolve the problems or issues?

What recommendations can be made to resolve the case?

Launch of the Sony PlayStation 3 on Page 348 of textbook (Marketing Management, Knowledge and Skills 11th ed., 2013 J. Paul Peter, James H. Donnelly, Jr. McGraw Hill ISBN: 9780077861056)

Explanation / Answer

New product development is the process of bringing a new product to market according to the interest and demands of the customer.So it involves transformation of a market opportunity into a product available for sale.

Sony is one of the renowned company in electronics fopr bringing an advanced technology products so Instead of focusing on one particular target segment (18 to 35 year-old male gamers with above average-education and high degree of comfort with new technology) further target segments should also be focused (e.g. women, children, occasional gamers and non-gamers) ,Few ways in which Sony can turn around their sales of ps3,firstly they could lower their prices and compete with a low price strategy and with additional  features that are easier to supply, but cheaper to produce. Sony can Introduce new games to the format could also help give them an edge over the competition and broaden their marketing campaign and target audiences .

Sony uses a two-fold strategic approach for new product development. They use innovation and technology by using of cutting edge graphics and Blu-ray capabilities in their development of the PS3, and they use a strategy of quality, reliability, and dependability. PS3's are equipped with all thse qualities which help in increasing its sales as well.

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