The paper “ Marketing Strategies of Play Station Vita Launched by Sony Computer Entertainment Which Brought a Revolutionary Change in the Gaming Market” is an exciting example of a case study on marketing. This report has been prepared with the prime objective of developing marketing strategies for Play Station Vita a gaming product manufactured, marketed and sold by Sony Computers Entertainment. Play Station Vita has been successful in creating a new gaming experience for people fond of playing computer games. This report throws light on the various stages or phases of the product life cycle and suggests strategies most suitable to be implemented to mitigate the changing risks in different stages of the product life cycle and ensure better success.
The current operating stage of Play Station Vita is identified and operating strategies are recommended. The report then moves on to identify whether Play Station Vita follows a pioneer or a follower strategy along with a study of the organizational structure of the company. A SWOT analysis is further prepared to throw light on the potential strengths and threats from both internal and external factors.
Finally, the report is concluded with a marketing metrics and marketing audit techniques best suitable for the company to ensure proper checkpoints and evaluation criteria and achieve higher returns and better growth of the organization. BASIC IDEA ABOUT PLAY STATION VITAPlay Station Vita is a handheld gaming device manufactured by Sony Computers Entertainment. The product came into existence a decade back during December 2011 and was a grand success with over 2.2 million devices being sold. The product brought a new revolutionary change in the gaming market and was appreciated, liked and enjoyed by over 2 million customers.
The product was developed internally by Sony Computers Entertainment with all exclusive rights and patents and by use of the best latest technology in terms of its hardware and software components. Best processors were used with huge spending on effective designing and graphics to make its users experience a real-time gaming adventure. Microsoft and Google have also developed their own processors with high-quality speed gaming and emerging as a tough competitor to Play Station Vita. It is be noted that the distribution system of Play Station Vita is managed by an excellent networking system of Sony and the product has been able to create a brand image of its own under the head Sony, a leading electronic brand that customers trust and rely upon.
The product has been launched globally with its presence in Japan, Australia, the United Nations, parts of far European countries and some parts of Asia. Further, the company is constantly looking to add new features to gain a competitive edge over its rivals and ensure higher growth and success of the organization PRODUCT LIFE CYCLE (PLC)A product life cycle represents the entire life cycle of a product which mainly consists of four different stages which are introduction, growth, maturity, and decline.
It is important for any organization to understand the position in which its product lines since each stage is characterized by its own features and management need to develop strategies accordingly to make optimal utilization of its available resources and ensure the smooth running of the business with the regular flow of returns. The different phases or stages of a product life cycle are discussed as under.