TABLE OF CONTENTS TITLE PAGE

ABSTRACTS.....................................................................2

INTRODUCTION...............................................................2

1.0

INTERNAL ENVIRONMENT...........................................2

1.1-1.4 SWOT ANALYSIS.....................................................3-5

2.0 EXTERNAL ENVIRONMENT..........................................5

2.1 PEST ANALYSIS..............................................................6-7

2.2 FIVE FORCES.................................................................7-8

2.3

MARKETING MIX.............................................................8

3.0 CONCLUSION...................................................................8

4.0 REFERENCES...................................................................9

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MARKETING AUDIT ANALYSIS

ABSTRACTS: In the description of this assignment is about marketing audit analysis. It covers the every possible areal of internal and external audit analysis with the help of sony corporation, which i choose as a case study in finding the way that organisations has apply to their marketing mix. Here the following point to be going to discussed: INTERNAL AUDIT ANALYSIS (SWOT ANALYSIS) EXTERNAL AUDIT ANALYSIS (PEST ANALYSIS AND FIVE FORCES) MARKETING MIX ARE CURRENTLY USED RECOMMENDATION ABOUT AUDIT ANALYSIS OF SONY

INTRODUCTION: Marketing audit is systematic, independent and time evaluation of a organisations market advantages. It the most effective part in re-examine the competitive advantages of marketing strategies, analyse the objects, policies and current situation of organisations marketing department. Because of regular changing in business environment, the audit is now being used not only the starting of planning diagram but also implementation stages and possible future action evaluation. Marketing audit depend on a particular basis of powerful reference point, reflection of evaluation in the external environment, internal experience and strategy improvement. It consists of three key features The external marketing environment The internal marketing environment Evaluation on the existing marketing strategy

1.0 THE INTERNAL EVIRONMENT: There are so many tools to analysis the internal environment. Swot is one of the most effective tools in internal analysis as well as external analysis. Two Part SW- internal and OT- external analysis. SWOT ANALYSIS OF SONY:

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STREANGHT

WEAKNESS

OPPORTUNITY

THREAT

1.1.STREANGTH: Their greatest strength is their ability to manufacture innovative and high quality products. Its innovation process has become a part of its mainstream culture and it starts with the invention of first magnetic tape and tape recorder in 1950: the radio transistor in 1955, the world first tv transistor in 1960, the first colour video cassette in 1971: the personal walkman stereo in 1979 CD called compact disk in 1982, the md player in 1992, the most attracted play station, which change the gaming world in 1995, dvd player in 1998. Sony reader was the 20 most attractive products in 2006. They successful in their mobile market as well with some exclusive mobile phone called xperia series. To be successful in different market also another strength of sony corporation. They have huge impact on game market, mobile business, tv market and computing world as well.

1.2.WEAKNESS: Their first weakness is their product is not available for low income people, that price quite high. By using their brand image they still in a good position but the world changing rapidly and people are looking for the cost effective product. If anybody gets the same configuration pc in lowest price, they must not go to buy sony laptop, only for brand image. Lack of variation in ps3 games is a another weakness, because of their high definition theory in tv set lots of people cant play their game and also the price is so high rather than xbox-360.

1.3. OPPORTUNITY: Sony is looking for lots of opportunity that can utilize their product perfectly. All the story of sony erricson experia phone its performance is just awesome from the good looking phone. Its got the ID-L0722RBRB1010

amazing feature, user friendly application, attractive visual display with high resolution video features. Design is the important differentiator in mobile related products. Sony reader enter into the market and blast its popularity with numerous of feature which is essential as well as attractive for the customer. Sony netbook has got much more popularity because of its nice design and light weight.

1.4 THREAT: A Common threat is facing competition or people buy substitutes product instead of the original one. Sony vaio is the greatest innovation of sony but the price range is so high. On the Other hand dell got the great reputation and its quite cheap as well. In the tv market few years ago sony did not face any difficulty but now a days they face so many competitor like Samsung, sharp, lg, Panasonic and many more.

2.0. THE EXTERNAL ENVIRONMENT: The external environment of marketing audit surroundings analyses customers, their necessity and how to meet them. The external environment includes pest analysis and 5 forces analysis as well. 2.1 PEST ANALYSIS:

POLITICAL

ECONOMICAL

SOCIAL

TECHNOLOGICAL

POLITICAL: Political factor is the most important external factors. New government come and taking new policy and that can be tough for the business to continue the same planning. May tax increasing happen then a great impact take place on its price? Sometimes inflation cause the great lose for the company if they cannot take the proper decision on time. The government also have the power to

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change the minimum wages, vat. It may increase their expenses and made a great impact on profit maximisation. ECONOMICAL: After the recession the economy still not comes back the strong position. The economic growth has slowing down which mean, economy is still in negative position. Because of recession the interests rate can be increased, and exchange rate also decreased. Always be careful about any kind of trading restrictions through by the government. Since sony is one of no 1 international company the different countries exchange rates have changed, so sony should be more careful about it.

SOCIAL: Sony is successful in their IT business, but need to give attention on social work as well. Microfsoft Corporation is doing cancer research for third world countries. They are connecting with the educational sector as well. They invest billions of dollars in asia pacific area for giving people a better life. Sony should organise talent hunted from the young generation. TECHNOLOGICAL: Sony is too much conscious about new technology. Their e reader was very popular for the people who love to reading. Their gaming system changes the total gaming world. But sony need to make research on product innovation with affordable price, so all type of people can able to get the product.

2.2 FIVE FORCES ANALYSIS:

Threats of new entry

Threats of substitutes Prodcuts

Intensity of rivalry

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THREATS OF NEW ENTRANTS (LOW): Electronic organisation needs huge amount of liquid money and capital as well. Some times government policy also a main barriar for starting new business. BURGAINING POWER OF BUYER (HIGH): For sony corporation components bergain capability of buyer is quit high so that there no cost of switching from brand to brand. And becasue of new technology huge range of alternatives are available. BURGAINING POWER OF SUPPLIER (LOW): Sony is very well known global brand and got the huge popularity so the supplier dont have so bargaining power against sony. Sony negotiates with their supplier straightly by providing high quality products in low price THREATS OF SUBSTITUTE PRODUCTS (LOW): In the market there is lots of substitute products are visible now. People using projector instead of buying tv now. In the other case of laptop, people using now tablet pc INTENSITY OF RIVALRY: organisation rivalry become high due to competition and out cost is so high. The rate of growth is quite slow because of the intensity of the competition.

2.3 CURRENT STRATEGY MIX AND FUTURE TACTIES: Marketing mix is a main theory of modern marketing and it consists of everything such as new product entrants and few marketing mix strategies . Prof. E. Jerome McCarthy classified marketing mix they are:

PRICE PRODUCT PLACE

PROMOTION

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PRODUCTS: Sony has so many products in the market but there is lack of variation. There latest popular invention is sony vaio laptop. There is no doubt about its high quality but only few models seen in the market. By establish lots of variation sony will be always on top. PRICE: Because of high price value sony product is not available for all types of peoples. So should be more price sensitive to reach all peoples home. In computing world because of sonys high price volume dell taking the advantages with their designing products and low price. PLACE: Sony has got the own distribution channels and adequate quantities at where the clients to buy from sony and become satisfy. By the dependence of nature marketing management decides to put into place an exclusive and reliable network distribution, where the sellers and dealers are appropriate. PROMOTION: Sony needs to give huge attention on the promotion and offer. In apple they offer 10% off to student and providing 1 year warranty to iphone. But dont have any kind of offer like this, so most student like apple instead of sony.

3.0 .CONCLUSION: Sony Corporation got the big hand of regular and loyal clients. But due to the new customer demands view they lose the market share and the profits as well. Product designing also a negative side to lose their market, their product good in quality but looking old fashioned. There walkman series totally smashed by ipod. Actually the organisation of electronics is short life cycle of products. In this circumstances they requires high skilled worker alongside with the lots of variation of products as well.

4.0. REFERENCES: 1) Stringer Theory (2011), The Economist, May 26th. Retrieved on june 12. http://www.economist.com/node/18745381 2) Rob (2011) Sony Ericson phone list. October 20, Retrived on june 12, http://www.sony.net/Sonyinfo/csr/quality/code/index.html 3) Business Tech (2011) Sony now expects 3.2 billion loss, may 23, retrieved on july 3, 2011. http://www.news.cnet.com/8301-1001-3-20065339-92.html 4) Alexander Chernev (Aug 15, 2007) STRATEGIC MARKETING ANALYSIS ,2ND EDITION. 5) Rahul Jain and Globalexperts 4U (dec 14, 2011)-Problems Solutions of Marketing Mix & Audit.

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6) 7) 8) 9) 10)

Michael Baker (Jul 7, 2008) The Strategic Marketing Plan Audit Charles R. Macdonald (nov 1988) Marketing Audit Workbook http://www.scribd.com/doc/38840705/Sony-Marketing-Mix-and-Swot-Analysis http://wiki.answers.com/Q/Sony_corporation's_five_forces http://www.marketingprofs.com/ea/qst_question.asp?qstID=11348

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