Marketing New Product

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Sony Sri Lanka Marketing Plan for Sony Digital Music
ACKNOLEDGEMENTS
First of all author would like to thank Marketing Management lecturer Mr. ...for his continuous support and advices which encourage me to complete successfully this report. My special thanks go to my parents who always encourage me to fulfil my career objectives and who provide me all the support to me. I take this opportunity to thank my friends who stayed with me and helped me lot in completing this report. Your support is greatly appreciated. Finally, I am responsible for any errors remain in this report
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TABLE OF CONTENT
ACKNOLEDGEMENTS.............................................................................................ii TABLE OF CONTENT...............................................................................................iii LIST OF FIGURES......................................................................................................v LIST OF TABLES ......................................................................................................vi EXECUTIVE SUMMARY........................................................................................vii 1.0 INTRODUCTION..................................................................................................9 1.1 Introduction to SONY Corporation. ..................................................................9 1.2 SONY SRI LANKA ..........................................................................................9 1.3 Introduction to the Product range ......................................................................9 1.3.1 Product range description .........................................................................10 2.0 MARKETING OBJECTIVES .............................................................................11 2.1 Qualitative objectives........................................................................................11 2.2 Quantitative objectives .....................................................................................12 3.0 PRODUCT STRATEGY .....................................................................................13 3.1 Product profile .................................................................................................13 3.1.1 Product identification ................................................................................13 3.1.2 Branding ....................................................................................................13 3.1.3 Packaging ..................................................................................................14 3.1.4 Labelling ...................................................................................................14 2.3 Product levels ...................................................................................................15 2.4 Product unique attributes .................................................................................17 2.5 Segmentation ....................................................................................................18 2.5.1 Sri Lankan market can segment using four main segmentation bases. .....18 2.6 Appropriate targeting strategy .........................................................................21 2.6.1 Target market ............................................................................................21 iii
Sony Sri Lanka Marketing Plan for Sony Digital Music 2.7 Positioning .......................................................................................................23 .....................................................................................................................................24 3.0 PRICING STRATEGY ........................................................................................26 3.1 Structuring pricing............................................................................................26 3.1.1 Pricing objectives.......................................................................................27 3.1.2 Asses the target market demand................................................................27 3.1.3 Estimating the cost ....................................................................................27 3.1.4 Analyze the competitors............................................................................28 3.1.5 Pricing strategy .........................................................................................29 3.1.6 Final Pricing ..............................................................................................30 4.0 PROMOTIONAL STRATEGY ...........................................................................31 4.1 Marketing communicating objectives ..............................................................32 4.2 Promotion mix strategies .................................................................................32 4.3 Communication platforms................................................................................33 4.3.1 Advertising ................................................................................................33 4.3.2 Sales promotion ........................................................................................36 Source: Authors work........................................................................................36 4.3.3 Public relations..........................................................................................37 4.3.4 Direct marketing .......................................................................................37 4.4 Promotional budget for the first six month ......................................................38 5.0 BUILDING A STRONG BRAND ......................................................................39 6.0 CONCLUSION ....................................................................................................40 REFERENCES...........................................................................................................41
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LIST OF FIGURES
Figure 1 Sony Digital Product Range......................................................................10 Figure 2 Branding advantages ................................................................................14 Figure 3 - Packaging example.....................................................................................14 Figure 4 Product levels ...........................................................................................15 Figure 5 Core features .............................................................................................16 Figure 6 Target segment characteristics .................................................................22 Figure 7 Positioning Map.........................................................................................24 Figure 8 - Structuring pricing.....................................................................................26 Figure 9 Pricing strategy ...........................................................................................29 Figure 10 Conditions applicable to price strategy ..................................................30 Figure 11 - Communication platforms........................................................................33 Figure 12 TV Viewing ...........................................................................................34 Figure 13 TV Viewing ............................................................................................34 Figure 14 Implementation of Public relations ........................................................37
LIST OF TABLES
Table 1 Product range description ..........................................................................10 Table 2 Product description ....................................................................................13 Table 3 Product unique attributes ...........................................................................17 Table 4 Segmentation bases ....................................................................................18 Table 5 Target segment (Kotler & Keller 2007; Kotler et al, 1999).......................21 Table 6 Final cost of SONY JAPAN.......................................................................28 Table 7 - Analyze the competitors..............................................................................28 Table 8 Final price calculations ..............................................................................31 Table 9 - Final price....................................................................................................31 Table 10 - Sales promotion techniques ......................................................................36 Table 11 - Promotional budget for the first six month................................................38
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EXECUTIVE SUMMARY
This is a marketing plan for a newly introduced SONY portable music devices product range. Product range branded as SONY Digital Music. Product is introduced by well known multinational company SONY Corporation. SONY Corporation introducing this product range to the Sri Lankan Digital portable music players market for the first time. Product range introducing to the Sri Lankan context through newly started SONY Sri Lanka. Product range will targeted to high end and middle end income earning, young, techno oriented males and females in Sri Lanka. Within the report introduction to the SONY Digital Music product range, objectives of the marketing plan were briefly discussed. Product strategy, Pricing Strategy and promotional strategies were critically evaluated. Finally this report will give recommendations and other implementation strategies which will use near future for the introduction of the SONY Digital Music product range to the Sri Lankan market. Key Words Product, pricing, promotional strategies. Sony.
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1.0 INTRODUCTION
1.1 Introduction to SONY Corporation. Sony Corporation is a leading electronic appliance manufacturer located in Tokyo, Japan. According to Sony website (2012) its motion picture, television, computer entertainment, music and online businesses make Sony one of the most comprehensive entertainment and technology companies in the world and further mentioned in the website Sony recorded consolidated annual sales of approximately $79 billion for the fiscal year ended March 31, 2012, and it employs 162,700 people worldwide. In the Sony annual report (2012:15) company mentioned according to the company growth strategy they are focused on more emerging markets all over the world. They predict 20% growth in consumer electronics market. Sri Lankan growing GDP rate (Central bank annual report, 2011) affects SONY Corporation to enter the Sri Lankan market with high end music devices. According to the Sunday leader (2008) Sri Lanka as an emerging digital market. Sony Corporation introducing its latest portable music devices to Sri Lanka as the first enters of the product range to the market. 1.2 SONY SRI LANKA SONY Sri Lanka is a local company which will start up in near future to introduce latest SONY Music devices to Sri Lankan market. With the company vision which is To be the preferred choice of portable digital music devices Sony Sri Lanka expect achieving company objectives and aims. SONY Sri Lanka will be the authorized reseller for the SONY Digital Music product range in Sri Lanka.
1.3 Introduction to the Product range Sony Corporations latest product introduction which will introduce to Sri Lankan market through Sony Sri Lanka named as Sony Digital Music. Sony digital music 9
Sony Sri Lanka Marketing Plan for Sony Digital Music product line is a total music solution product range which will cater all portable music requirements by consumers. Sony Digital music product rage introduced with 8 different kind of portable music devices as mentioned bellow.
Figure 1 Sony Digital Product Range
Source: Authors work
1.3.1 Product range description

Table 1 Product range description
Product Digital Ear Digital Watch Digital Bangle Digital Walkmen Digital Touch Digital Music Tab
Product Description Small music device which can fix to human ear and play through Bluetooth phone application. Music player comes with SONY electronic displayed clock looks like a bangle but which is an electronic music player More advanced version of SONY WALKMEN. Touch devices which can play music Touch devices which can play music
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2.0 MARKETING OBJECTIVES

Based on following factors marketing objectives are categorized as quantitative and qualitative objectives with SMART features (Jobber, 2007). 1. Market share 2. Product characteristics 3. Sales revenue 4. Profit margin 5. Resources
2.1 Qualitative objectives. 1. Through strengthening the SONY brand and Digital Music Product line within the Sri Lankan market to be the leading portable mp3 player in Sri Lankan market.
2. Maintaining the standard quality level of after sale services.
3. Increase the product life cycle of SONY Digital Music. Increasing the product life cycle maturity stage by modifying the target market or by adding new features that expand the products usefulness (Kotler and Armstrong 2007, p. 271)
4. Increase the customer satisfaction By delivering high quality services and after sales services through the sole agent, SONY Inc. can increase the customer satisfaction.
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2.2 Quantitative objectives 1. Increase the market share in Sri Lanka by 40% by the end of 2015 through implementing the SONY business strategies and marketing strategies. SONY Digital is a totally new product to the market. So capture the market and increasing the market share is a challengeable task to the company. Product implementing the company business strategies and marketing strategies may take the company to the above objective. 2. Increase the awareness of the product by 30% within first six month using advertising methods.
3. Increase the number of sales outlets and distribution centres in target areas by 10 in the end of year 2015.
4. Increase the sales of SONY Digital Music by 5% in next year.
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3.0 PRODUCT STRATEGY

According to the Armstrong and Kotler (2007: 247) Product which formulates a value to the target market will achieve the objectives of the product marketing plan. If the product is with promised values it will finally satisfy the end consumer. (Kotler & Keller 2007; Jobber, 2007, Kotler et al, 1999) 3.1 Product profile 3.1.1 Product identification
Table 2 Product description
Variable Product Product Concept Number of Products Source: Authors work
Description SONY Digital Music Delivering enhanced delighted music experience to the music lovers 8
3.1.2 Branding
Parent company brand:
Sri Lanka sole agent brand:
Product brand:
Sony Digital Music
Through the branding SONY Digital Music creates a value to the product by attracting the customer loyalty towards the product. Through the branding following factors are expecting by the marketing department; (Kotler & Keller 2007).
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Figure 2 Branding advantages
Source: Authors work compiled from Kotler and Keller, 2007
3.1.3 Packaging SONY Digital Music comes with one of innovative packaging which Sony Inc introduces. Its secondary package is seeing through package which consumer can actually see which type digital music device he or she is buying. Following is a packaging example which use in Sony digital Music. (Kotler & Keller 2007)
Figure 3 - Packaging example
Source: Sony Corporate website (2012) 3.1.4 Labelling SONY Digital Music label is carrying all necessary information about the products as a summary. Simply it acts as a promotion activity by attracting the customer. The label might promote the product through attractive graphics (Armstrong and kotler 2007: 261, Jobber 2007).
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Sony Sri Lanka Marketing Plan for Sony Digital Music 2.3 Product levels According to the Armstrong and Kotler (2007) each product should have three levels which will discuss below. (Kotler & Keller 2007)
Figure 4 Product levels
Source: Armstrong and Kotler (2007)
Core product: Core product is what customers are expecting to fulfil the Benefit basic fundamental requirements from the product. That is entertainment from listening to the music. (Kotler & Keller 2007)
Actual product: Actual product is the products which deliver the benefits to the customer. Through using SONY Digital Music customers can fulfil their entertainment requirement. Actual product includes many product decisions such as branding, labelling and packaging.
Augmented product: Augmented product deliver additional value added services and features with the product. These value added features are not core benefits but these leads consumer to make purchase choice. (Kotler & Keller 2007)
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Sony Sri Lanka Marketing Plan for Sony Digital Music SONY Digital Music is an augmented product. Because product includes following feature; (features which includes in following illustration only few comparing to actual product range).
Figure 5 Core features
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2.4 Product unique attributes SONY Digital Music is a new product range to the market. Following are the unique features which can identify in SONY Digital Music product range. (Kotler & Keller 2007)
Table 3 Product unique attributes
Quality
Product quality is very high. Because product is manufactured well known Sony Japan Wireless ear buds are one of unique feature to Sony digital music and to mp3 player market. Product range exist with different kind of portable devices Sony digital music includes 2GB, 4GB and 8GB memory capacities.
Wireless feature
Features
Portable
High memory capacity and high battery life
Holds up 2000 or 4000 songs in 128Kbps Battery life: 48 hours stand by time and 8 hours listening time. Sony digital music delivers high quality audio quality to customers.
Audio quality
Frequency response 20Hz - 20000Hz Support audio formats are MIDI. Ogg, Mp3 and AAc
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2.5 Segmentation Market segmentation is dividing a market into smaller groups of buyers distinct needs, characteristics, or behaviour that might require separate products or marketing mixes (Jobber, 2007). Identifying groups of customers who have similar requirements is helps SONY Digital Music to serve successfully and effectively. Through successful market research following segmentation bases can identify. (Kotler & Keller 2007; Kotler et al, 1999) 2.5.1 Sri Lankan market can segment using four main segmentation bases.
Table 4 Segmentation bases
Segmentation bases Geographic segmentation Country Population Sri Lanka
Characteristics
Province
Western Central Southern North, North Central, North western Eastern and Sabaragamuwa Population in urban areas and rural areas in Sri Lanka. Total population is 21 million 0-14 years: 23.9% (male 2,594,815/female 2,493,002) 15-64 years: 68% (male 7,089,307/female 7,418,123) 65 years and over: 8.1% (male 803,172/female 926,372) (2009 est.) (CIA The World fact book 2011)
Density Market size
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Table 4 cont.
Demographic segmentation
Age Gender Income Occupation
Below 15 Between 15 35 Above 35 Male, Female Above Rs 75000 Between Rs 35000 - Rs 75000 Below Rs 35000 Young professionals, homemakers and high end income earners. Private high school students Local university students Private university students Graduates High end (upper uppers), middle class and low lowers class Expensive spending patterns, cheap spending patterns Customers who shows the social status by owning a branded product
University
Psychographic segmentation
Social class Lifestyle
Personality
Quality sensitive customers' People who are addicted to the advertisements

Technology sensitive Fashion conscious and enjoyments.
People who like to spend their time with the fun

Values
Customers who want to increase their self
respect by products which they are using'
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Following criteria were obtained from Kotler and Armstrong (2006:196)

Table 4 cont.
Behavioural segmentation
Loyalty level
High loyalty towards products if that product delights the customer' Low loyalty if the product is satisfy them None loyalty if dissatisfied Regular occasions using younger generation' Special occasion Rarely occasion Heavy users Light users Medium users Well informed about latest technology, latest products and innovative products especially on branded manufacturers' And intend to buy latest products' Unaware about latest products and even it is available no intention to buy those products' If the product is delivering specific features and maintain the top quality then positive attitudes towards the product and vies versa'
Occasions
User rates
Readiness stage
Attitude toward products
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2.6 Appropriate targeting strategy After evaluating different segments, the company must now decide which and how many segments it will target. A target market consists of a set of buyers who share common needs or characteristics that the company decides to serve. (Kotler and Armstrong 2006, p.210) 2.6.1 Target market After evaluating the above segmentation variables in Sri Lankan market it shows following segment is the suitable target market for SONY Digital Music because customer expectations and company objectives can fulfil with this segment. Target market profile can identify as follow according to four main segmentation bases.
Table 5 Target segment (Kotler & Keller 2007; Kotler et al, 1999)
Geographic segmentation Province All provinces Age
Demographic segmentation Between 13-30 Occupation
Psychographic segmentation Social class High class (Upper Uppers) Lifestyle
Behavioural segmentation Usage rate Medium and heavy users Loyalty
High school students Graduate students Young professionals

University Private university students Gender Male and female Above Rs 35000 Income level
Expensive spending patterns
High loyalty towards branded products
Personality
Fashion conscious/lovers, technology oriented, quality and price sensitive
Readiness to buy
Who always ready to buy latest and innovative products
Values People who spend most of the time with fun and enjoyments
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Sony Sri Lanka Marketing Plan for Sony Digital Music Following illustration explains the characteristics of the target segment which was identified above (Kotler & Keller 2007).
Figure 6 Target segment characteristics
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2.7 Positioning According to the Primary Research data SONY Digital Music product range is a unique, innovative, user friendly and safely product within competing products/ Therefore SONY Digital Music product range will position as a high quality and high price product among the competing products in the portable music player market. Following diagram demonstrate the positioning of the SONY Digital Music product range. Diagram was drawn according to the primary data which author has been collected from a primary research (Kotler & Keller 2007).
High Price SONY Digital Music
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Competing Products
Figure 7 Positioning Map
Low Price
Law quality
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Law quality
High quality
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3.0 PRICING STRATEGY

SONY Digital Music product range consists with eight music products, which got eight different prices. Due to innovativeness and technology used in each product, product prices are varies. Following pricing structure will use to determine the price of the products (Kotler & Keller 2007). 3.1 Structuring pricing Set pricing objectives
Assess the target market demand
Estimating cost/ cost structure
Analyze the competitors
Select a pricing method
Select specific final price
Figure 8 - Structuring pricing
Source: Kotler & Keller 2007
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3.1.1 Pricing objectives a. Maximizing profits b. Achieving marketing objectives and promotional objectives. c. Upturn market share SONY Digital Music brand is mainly targeted for the top end market. In such a situation SONY Sri Lanka wishes to increase the market share using price decisions appropriately (Kotler & Keller 2007). d. Market skimming SONY Digital Music will communicate the unique quality image of the product using pricing. Will add a superior value thought the price for the selected segment (Kotler & Keller 2007).
3.1.2 Asses the target market demand Usually the demand and the price are interrelated. If the price is high the demand will be low and vice versa. SONY Digital Music is a luxury good and its targeted for the high and middle market. So the price is set after analyzing the demand. 3.1.3 Estimating the cost Cost includes all manufacturing, distributing and promotional costs. SONY Corporation exports final SONY Digital Music product range to SONY Sri Lanka with cost + manufacturer profit margin. SONY Sri Lanka will add all other freight and storage charges, SONY Sri Lanka costs and promotional cost to the final product cost.
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Sony Sri Lanka Marketing Plan for Sony Digital Music Following table demonstrate SONY Corporation Cost for eight SONY Digital Music devices.
Table 6 Final cost of SONY JAPAN
Product Digital Ear Digital Watch Digital Bangle Digital Walkmen Digital Touch Digital Music Tab Source: Authors work
Final Price $75 $75 $50 $75 $150 $100
3.1.4 Analyze the competitors Following are the competing products prices ranges. Prices were obtained from a primary research which author has been carried out in a leading electronic store.
Table 7 - Analyze the competitors
APPLE Toshiba Creative Samsung
Brand Touch Classic Walk Touch Walkmen E500 100 Galaxy tab
Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs
Price 39000 37000 15500 26000 18950 10250 12500 66700
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3.1.5 Pricing strategy When selecting a pricing strategy, main goals are, sales oriented goals. This pricing goal of increasing sales volume is typically adopted to achieve rapid growth or to discourage other firms from entering a market (Etzel et al 2006:325). When deciding a market entry price strategy, two methods can use.
Figure 9 Pricing strategy
Source: Armstrong and Kotler 2007: 33
Market skimming pricing Pricing strategy for SONY Digital Music is market skimming pricing. Using a high price when introducing to the market and reducing according to the product life cycle. Even though this kind pricing strategy follows, it is based on value of the product. (Value based pricing). Because value, which customers are expecting and value, which deliver from the product also high. At the growth stage penetration pricing strategy and at the maturity stage competitor base strategy will use to sustain in the market.
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Sony Sri Lanka Marketing Plan for Sony Digital Music Following conditions should be there to make sense this price strategy.
Figure 10 Conditions applicable to price strategy
Source: Armstrong and Kotler 2004: 330
3.1.6 Final Pricing Following table demonstrate the final price calculation which will use in SONY Sri Lanka for SONY Digital Music product range. Following example is calculated for SONY Digital Tab.
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Table 8 Final price calculations
SONY Inc final price for the SONY Digital Bangle Tax (Depends on the value of the product) VAT National building tax Other import taxes 20% 3% 15% $20 $3 $15 $9 $12 10$
$ 100
Distribution cost Promotion cost Sale agent other costs Total cost Profit margin 20% Final price of the SONY Digital Bangle in Sri Lanka in US $ Final price of the SONY Digital Bangle in Sri Lanka in Rs
$69.00 $33.80 $202.80 26364.00
[$ 1.00 = Rs 132.00] To take the advantage of initial pricing; suitable price for product Rs. 26999.99
Using above calculations following is the final price for the entire SONY Digital Music product range.
Table 9 - Final price
Product Digital Ear Digital Watch Digital Bangle Digital Walkmen Digital Touch Digital Music Tab
Manufacturer Price $75 $75 $50 $75 $150 $100
Sri Lanka Price Rs. 17485 Rs. 17485 Rs. 13000 Rs. 17485 Rs. 30940 Rs. 21970
4.0 PROMOTIONAL STRATEGY

Promotion a companys total marketing communications mix- also called promotional mix consist of the special blend of advertising, sales promotions, public relations, personal selling, and direct- marketing tools that the company use to pursue its advertising and marketing objectives (Armstrong and Kotler 2007:423). 31
Sony Sri Lanka Marketing Plan for Sony Digital Music 4.1 Marketing communicating objectives SONY Sri Lanka marketing team has developed their objective for the period of September 2012 to February 2013 which is to create 65% prompted awareness in the target group. 4.2 Promotion mix strategies Company use two promotional mix strategies. Through producer and customer these strategies are implementing. Producer activities SONY SONY Sri Lanka
Figure 11
marketing
Reseller activities
marketing
Consumers
Push strategy
Figure 11 - Promotion mix strategies.
Source: Armstrong and Kotler 2007: 429; Kotler et al, 1999
When conducting promotions activities conducting it through push strategy are appropriate. As above diagram indicates promotions can be done through SONY Sri Lanka (Kotler et al, 1999).
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4.3 Communication platforms.
Figure 11 - Communication platforms.
4.3.1 Advertising SONY Digital Music target market is high end and large so using mass advertising methods are suitable. Following methods can use as advertising methods in the target market. According to Groucutt et al (2004:330) Product advertising is the type of advertising which is selected to use in this communication plan. 1. TV advertising Advertising in MTV, ETV, ART, DERANA, SIRASA and Shakthi TV is suitable. Because these channels are limited to main city areas and most of the viewers are the target group of SONY Digital Music. Following diagram shows the survey results.
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Figure 12 TV Viewing
Source: Survey results According to the survey results advertising in prime time is the most suitable air telecasting time period to advertise about SONY Digital Music.
Most popular viewing time

6 5 4 3 2 1 0 Between 6.30am- 8am
Figure 13 TV Viewing
Series 1
After 8am Between 5pmBetween 7pm After 9pm -7pm -9pm
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Source: Survey results
2. Radio advertising Most of the younger generation and other target groups are frequently listen to music according to survey results. So advertising in main radio channels YES, Y, SUN and LITE may increase the awareness about the product,
Most popular radio channels

6 5 4 3 2 1 0 LITE Y YES GOLD SUN Most popula r ra dio cha nnels
Source: Survey results 3. Paper and magazines advertising Sunday times, Observer is suitable papers and GO, HI and business today are the suitable magazines for paper advertisements.
4. Outdoor advertising Through using billboards and hoardings near main shopping malls such as ODEL, ARPICO super centres and Crezcat; private universities such as APIIT, ANC; and in some certain areas such as Bambalapiya and Kollupitiya.
5. Internet and e mail advertising
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Sony Sri Lanka Marketing Plan for Sony Digital Music According to the survey results target group surf net at least 2 hours per day. So advertising in popular social networks such as face book and using email advertising is another appropriate strategy. 4.3.2 Sales promotion Following table explain the sales promotion tactics and how it can apply to SONY Digital Music product range promotion activities.
Table 10 - Sales promotion techniques
Samples
Offering sample SONY Digital Music to customer to use and check the flexibility and quality of the product. Gift vouchers can offer to customers to buy SONY Digital Music with a discount rate in specific time period. If the product is not suitable then he can return the product within a specific time period from the purchase date. In Sri Lanka there is several religion and national festivals. So in those seasons company can follow sales promotions. Such as Xmas sales, Aurudu sales, Valentine day sales, Ramazan sales Customers can return SONY product which they have to exchange SONY Digital Music with a discount rate. Participate to specific trade fairs and exhibition with the SONY Digital Music is another sales promotion. Such as Consumer fair, Techno...etc Offering free promotional song CD or Pen drive with a SONY Inc. logo with SONY Digital Music. SONY Digital Music comes with life time guarantee. Which if there any fault in the machine repairing it without payments or replace.
Gift voucher Money back guarantees seasonal promotional activities Exchange schemes Fairs and exhibitions Promotional free gifts Guarantee
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4.3.3 Public relations Company can do promotional activities under public relations by implementing mobile marketing, special events and maintaining high relationship with the customers.
Figure 14 Implementation of Public relations
4.3.4 Direct marketing SONY Sri Lanka can maintain a database of the potential customers of SONY Digital Music products; so company can follow direct marketing activities to those potential customers. Company can implement direct marketing through e mails, telephone calls and company website.
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Sony Sri Lanka Marketing Plan for Sony Digital Music 4.4 Promotional budget for the first six month Following is the promotional budget for the next period of six month.
Table 11 - Promotional budget for the first six month
Promotional activity Advertising

TV Paper/ Magazines Radio Internet and e mail
Cost Rs Rs.
Rs. Rs. Rs. Rs. Rs. Rs. Rs.
10,00,000
5,50,000 2,00,000 1,00,000 15,00,000 5,25,000 1,50,000 53,35,000
Sales promotions Public relations Direct marketing Total
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5.0 BUILDING A STRONG BRAND

Sony is a well established brand name in the electronic appliance market. As primary research data indicates 56% of the consumers in the target market have favourable consumer behaviour towards SONY brand. This strong brand creates a brand value to the DIGITAL MUSIC Brand. According to SONY corporate website (2012) SONY introduced its first music device in 1980 s. Since 1980 s SONY walkmen music devices were offered with different types of features to the customers. These high quality features and unique selling propositions help to SONY to create a strong brand image towards the SONY brand. SONY Digital Music product rage introduced to the Sri Lankan market with eight different kinds of music devices. Those unique products are innovative products to the Sri Lankan music player market. This is the first time which a one brand offering different type of music products. Even though many music devices established in the market primary research data proves that this introduction increase the favourability and finally it may create a strong brand image to the SONY Digital Music. SONY Digital Music product includes many unique selling propositions. Those were briefly explained in the product strategy. Unique selling propositions are attractive features for a customer who is selecting a product among competing music devices. Those features create competing and competitive advantages to the SONY Brand. Strong Brand image can create through successful promotional marketing campaign. (Satell, 2012). Promotions will carry out as advertising and sales promotions. SONY brand name and newly introduced brand name SONY Digital Music brand names will promote through paper, radio, TV and magazine advertisements. Those advertisements will establish a strong brand name in consumers mind. (Satell, 2012).
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6.0 CONCLUSION
This marketing report highlights the key elements of introducing a newly introduced product range by SONY Inc. to Sri Lanka through SONY Sri Lanka. Product range named as Digital Music. Report highlights the key marketing objectives of introducing this product, product strategy, pricing strategy and promotional strategy. After analysing the Sri Lankan market, Sri Lanka is suitable to launch the SONY Digital Music. Company can gain all its marketing and long term objectives by implementing this marketing plan for the SONY Digital Music product range.
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REFERENCES
Armstrong, G. & Kotler, P. 2007, ,Marketing an Introduction, 7th ed, Pearson Education, India Brain mass 2008, Apple case study Website, [Online], Available: http://www.brainmass.com/homework-help/business/accounting-business-analysisfinancial-reporting/153466 [Accessed 29 May 2009] Central bank, 2009. Annual report, Central bank Colombo: Central bank ISSN 1391359x CIM. 2009, CIM professional diploma in marketing delivering customer value through marketing, CIM publishing manager/ BPP learning media LTD, UK CIA world fact book 2011, , [Online], Available: https://www.cia.gov/library/publications/the-world-factbook/geos/ce.html [Accessed 12 Aug 2012] Etzel, M. J.,walker, B. J.,Stanton, W. J. & Pandith, A. 2007, Marketing concept and cases, 13th, McGraw Hill, New Delhi Groucutt, J., Lendley, P. & Forsyth, P. 2004, Marketin essential principle new realities, 1st, Kogan page India pvt LTD, India Kotler, P. & Keller, K. L. 2007, Marketing management, 6th ed, Prentice hall of India, India Kotler, P., Ang, S. H.,Leong, S. M. & Tan, C. T. 1999, Marketing management, 2nd, Prentice hall, Singapore Satel, G. 2012. [Online], Available: http://www.digitaltonto.com/2010/how-to-builda-strong-brand/[Accessed 12 Aug 2012] SONY corporate website 2010,home page Website, [Online], Available: http://www.sony.com [Accessed 12 Aug 2012] SONY 2012 Annual report, Available from: http://www.sony.net/SonyInfo/IR/financial/ar/report2011/SonyAR11-E.pdf [Accessed 12 Aug 2012] Sunday leader 2008, digital gadgets boon to it industry, 27 January, p. 4 Jobber, D. 2007, Principles of Marketing, 5th edition, Mc Graw Hill education.
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Sony Sri Lanka Marketing Plan for Sony Digital Music

Sony Sri Lanka Marketing Plan for Sony Digital Music

Sony Sri Lanka Marketing Plan for Sony Digital Music

Sony Sri Lanka Marketing Plan for Sony Digital Music

Sony Sri Lanka Marketing Plan for Sony Digital Music

Sony Sri Lanka Marketing Plan for Sony Digital Music

Sony Sri Lanka Marketing Plan for Sony Digital Music

Figure 1 Sony Digital Product Range

Source: Authors work

1.3.1 Product range description

Sony Sri Lanka Marketing Plan for Sony Digital Music

2.0 MARKETING OBJECTIVES

2. Maintaining the standard quality level of after sale services.

Sony Sri Lanka Marketing Plan for Sony Digital Music

4. Increase the sales of SONY Digital Music by 5% in next year.

Sony Sri Lanka Marketing Plan for Sony Digital Music

3.0 PRODUCT STRATEGY

Variable Product Product Concept Number of Products Source: Authors work

Parent company brand:

Sri Lanka sole agent brand:

Sony Digital Music

Sony Sri Lanka Marketing Plan for Sony Digital Music

Figure 2 Branding advantages

Source: Authors work compiled from Kotler and Keller, 2007

Figure 3 - Packaging example

Figure 4 Product levels

Source: Armstrong and Kotler (2007)

Figure 5 Core features

Source: Authors work

Sony Sri Lanka Marketing Plan for Sony Digital Music

High memory capacity and high battery life

Source: Authors work

Sony Sri Lanka Marketing Plan for Sony Digital Music

Segmentation bases Geographic segmentation Country Population Sri Lanka

Density Market size

Source: Authors work

Sony Sri Lanka Marketing Plan for Sony Digital Music

Age Gender Income Occupation

Social class Lifestyle

Quality sensitive customers' People who are addicted to the advertisements

People who like to spend their time with the fun

Customers who want to increase their self

respect by products which they are using'

Source: Authors work

Sony Sri Lanka Marketing Plan for Sony Digital Music

Following criteria were obtained from Kotler and Armstrong (2006:196)

Attitude toward products

Source: Authors work

Sony Sri Lanka Marketing Plan for Sony Digital Music

Geographic segmentation Province All provinces Age

Demographic segmentation Between 13-30 Occupation

Psychographic segmentation Social class High class (Upper Uppers) Lifestyle

Behavioural segmentation Usage rate Medium and heavy users Loyalty

High school students Graduate students Young professionals

Expensive spending patterns

High loyalty towards branded products

Fashion conscious/lovers, technology oriented, quality and price sensitive

Who always ready to buy latest and innovative products

Source: Authors work

Figure 6 Target segment characteristics

Source: Authors work

Sony Sri Lanka Marketing Plan for Sony Digital Music