Who this income bracket is because that’s around
Who are the target customers for the company/brand? Make sure you tell why you selected each item that you did.
Age Bracket: 35 – 45 – Most parents start having kids around the age of 25, that’s why my target age is 35-45 because that would make their children between the ages of 10-20.
Gender: Male and Female – According to an Entertainment Software Association survey taken in 2016, 48 percent of female’s play video games. That’s almost half our market. (Chen, 2016).
Income Bracket: 25,000 + — The reason I selected this income bracket is because that’s around 12 dollars an hour and most high school graduates with no high education make an average of 30,000. Console starting cost is 400.00.
Education Level: High School and Above —– The average income of a high school graduate is 30,000 compared to the average income of a high school dropout being 20,241. (James, 2016)
Lifestyles: Purchaser = Working Class – User of product = Gamer — The target in my market strategy is for the parents going out to purchase this for their children. The parent must make at least 25k+ to be able to afford a 400-dollar base console. The console is a convince item for the parent to keep their children out of trouble but out of their hair.
Psychographics: The user will be a gamer, but the purchaser will be the parent — 68 percent of Americans are gamers between the ages of 13-18 according to Statistics Portal survey taken in 2016. (Chen, 2016). Most parents buy the PlayStation 4 to get their children out of their hair and keep them busy. PlayStation are kind of expensive starting at 400.00 dollars, so I think we can target parents with discounts or sales.
Values: The value of the user is to have the hottest titles and play them with their friends, however the value to the purchaser (our target) the parent is to give them peace and quiet.
Other items you would segment up on:
Bundles: PlayStation has always had the best bundles when it comes to gaming, bundles can include additional add-ons and games or a limited addition console that will grow in value with age. Bundles are typically little more expensive than the traditional PlayStation 4 that comes with just the console. Bundles can cost between 450-600.
Product value: Since the PlayStation 2 launch back in 2006 Sony has dominated the gaming industry. During the time of the PlayStation 2 150 million units was sold. (Sony Playstation, 2017) (James, 2016).
Game Selection: PlayStation has the biggest game selection compared to its competitors. PlayStation has +5000 games in their liberty just for children 10 – 16 that’s not adding the crazy liberty for players 17+ of over 15,000 games This liberty of games is more than (Sony Playstation, 2017) both competitors Xbox and Nintendo combined.
How could/does the company reach its customers/users? What methods and media might and/or does the company use to reach the customers/users? Make sure you list the media type and why you think it will reach the customers.
The company is excellent about promoting their products such as Television Commercials, Gamer Magazines, Gaming Conventions and Social Media outlets (Facebook, Twitter, etc.). I think there are some ways to improve though with today’s busy parents. Sony could get the message out using billboards for the product or radio commercials, Companies such as Apple and HP have made a killing from advertising their products this way.
What would grab the customers/users’ attention? Why do you think this will capture their attention?
I think we can capture the customer’s attention by marketing a “limited” time sale for the console or some of the console bundles. We can do this by advertising over commercials, social media outlets, and billboards. The reason I think this is going to capture their attention is that these consoles are expensive starting at 400.00 for a base model raging to 600.00 for some bundles (Sony Playstation, 2017).
What do these target customers’ value? Why do you think they value these items?
Our customers value the convince the PlayStation 4 gives them with their children. It keeps the children busy so that they can handle their day to day activities. PlayStation also makes it super simple to purchase games through their PlayStation store, so you don’t have to run to GameStop or Best Buy.
Who are the brand’s competitors? Provide at least 3 competitors and tell why you selected each competitor.
Competitor 1: Microsoft Xbox One – They offer competitive gaming same as PlayStation 4
Competitor 2: Nintendo Wii U – They offer gaming similar to PlayStation 4 anime collection
Competitor 3: Retron 5 – They allow the customer to play older games like Super Nintendo, Nintendo, and Gameboy, ect. PlayStation 4 also offers this as a selection with their console.
What product category does the brand fit into? Why have you placed this brand into the product category that you did?
Product categories that can fit with this console educational, technology, gaming, electronic, pc (has a web browser). The reason I selected this category is that PlayStation 4 offers multiple things to their customers such as liberty of over 5000 educational games (Sony Playstation, 2017). This system can also search the web, steam and record live content like a laptop or computer.
What frame of reference will customers use in making a choice to use/purchase this brand/service? What other brands/companies might customers compare this brand to?
Customers are always looking for the next best thing. Our customers what to be able to use their older games from past consoles, buy their games online and not have to run out to multiple different outlets for exclusive content like the Xbox users have to do. The brands that are compared to PlayStation 4 are Xbox one, Nintendo WII U and The Retron 5.
3. USP (Unique Selling Proposition)
How is this brand/company better than its competitors? What is the brand’s USP (Unique Selling Proposition? Why have you decided upon this particular USP?
Unique Selling Proposition: Sony PlayStation has engineered the way gamers play video games from its realistic game effects to its multi-spread gaming selection. PlayStation offers a gaming store where you can buy your game instead of going to GameStop. Sony is the only company in the gaming industry to have backward compatibility with older gaming systems (USP). The reason I chose this USP is that when customers decide to purchase the new gene console with any other company, they can’t play older gene games on the console, but PlayStation offers just that.
What is the brand’s uniqueness? Why do you think this is a key uniqueness for this business?
Sony was the first company to pave the way for virtual reality video gaming and the first for backward compatibility. The reason I think this is a key to the uniqueness of this business is that with ever gene PlayStation they come out with they change something for the better such as graphics, ability, and price.
What is the competitive advantage of the brand? How is it different from other competing brands? Why do you consider this a competitive advantage?
A key competitive advantage for Sony PlayStation 4 is that you can play games up to 30 days early if you purchase them though their game store. Competing brands such as Microsoft Xbox and Nintendo Wii U doesn’t offer this to their users. The reason I find this to be a competitive advantage is that most of the games that are created now days are sister companies of Sony or Sony owns a portion of the creative team that’s why they get access 30 days early.
What attributes or benefits does the brand have that dominate competitors? Why do you think they dominate?
There’s a couple of benefits that makes PlayStation superior to its competitors, 30-day early access to any games that are bought on the play store, backward compatibility, and the virtual reality. They dominate because Sony is always the first one in the gaming community to explore new avenues. Sony is always looking for the latest and hottest trends and how they can explode them.
4. Positioning Statement & Motto
Develop a new positioning statement and motto for the brand you selected. Below is an example of BMW’s positioning statement and motto. Discuss why you created the items that you did?
· BMW Positioning statement:
· BMW Motto: BMW is the ultimate driving machine.
Positioning Statement: The PlayStation provides the most accomplishment for all video game console users through its gaming experience, multiple video apps, and USB compatibility
Motto: PlayStation is the wave of the gaming future.
PlayStation is the wave of the future in the gaming world and is fur ahead of its competition. That’s why I create the motto and the positioning statement I made. Sony will keep making advancements and extreme changes to the gaming console/community for the next number of years. PlayStation is the Lamborghini of consoles.