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Sony: Premium Branding Strategy

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Price The policy that Sony used is premium pricing policy because of their highly innovative technology background and unique features. Sony uses price skimming for latest product where the price of the product is high as gaming fans had high expectations toward the product. Sony are low in sales due to premium pricing policy. Whenever competitors release their latest products, consumers tend to choose other substitutes such as Nintendo and Microsoft Xbox which leads to lowering the price of Playstation. To attract more customers, Sony has lower the price of hardware. As the low price attracts more customers, sales would eventually went up due to a better and cheaper game console. With just 350 US dollar, consumers can get a package which includes a customized …show more content…

The target market includes gamers from all age, which depends on certain video games bought. In Los Angeles, Sony introduced its new product details at an event (E3 press conference) and promoted a teaser of information so that people were aware of its latest product, Playstation 4 (Hamway, 2013). The features of Playstation 4 and its video game are a promotion in itself as Sony uses “Umbrella Branding Strategy” where product name and corporate name is placed together in both promotions and sales. The promotions also include commercials and advertisement that are showed through websites and televisions. Online advertising can get attention from people that are watching, especially those who want access to exclusive video games. To increase the awareness of consumers, display in the stores can be directly tested by the consumers. The PS4 poster features images come with slogan "DriveClub and Knack" along with some text on it reads "Next Generation, Incredible Games, Limitless Play". However, poster features are not as popular as the internet promotion as the target market is young players (LaRae,

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