Assignment 1 Sony’s PS4 Centennial College School of Business Marketing Management MKTG 716 Brinston Marneni 300970473 Submitted to: Toussaint Xavier October 04, 2018 SONY PS4 Sony’s new Ps4 is winning laurels across the world. On 17th November, 2017, in both America and Canada, at least 1 million units taken by the customers in the first day itself. (Joseph, 2013) Sales: Over the last fiscal year, Sony has sold from 17.7 million to a whopping 40 million PS4 consoles. The company has observed a 11.8 percent jump in sales. PS3 had led to some loss in the recent market years, but the PS4 brought it back to the position. The product became such a hot commodity, that Sony reached its first full year profit in 3 years. The profit …show more content…
The reputation and quality is so strong that the customers have become solely responsible in the business development. It has strongly secured its reputation taking a jab at its competitors. They have strongly branded themselves with their messages and have associated themselves with the ‘gamers’ and are constantly showcasing their superiority (Grubb, 2015). The global gaming market has risen to $100 billion and Sony is slowing monopolising the market. Microsoft’s products aren’t even coming close to the …show more content…
• They have a very high resolution Blue Ray function which makes it very appealing. Weaknesses: • It is very expensive compared to its competitors. Xbox and Wii are considered affordable to the gamer audience. • Sony has taken it slow after monopolising the gaming console market. They wait for its competitors to come up with something new and innovative that will jeopardise their position. Their innovation is slow until their seat is threatened. • There aren’t many games that consumers could play. The list is limited. Also the online service is bad as there have been several cases where people’s accounts have been hacked • Even though PlayStation has a reputation, Xbox has been in the market for even longer period of time and have their own set of audience. Opportunity: • There are so many ways of enhancing the innovation even more like combining all Sony products into one. • Giving a better price to the audience. The PS4 has been known to be overpriced, and its games even more. • Introducing new games every month for game buffs to review. Threats: • There are so many tech start-ups or new technology that can affect or revolutionize