Great Business Insight From Sony PlayStation 4 Success
The Japanese giant Sony, has certainly had plenty of things to consider when it comes to their business as a whole. This is generally due to the changing world of technology. It seems fair to say that Sony have been into many different areas, from TVs to laptops. However, the business started to stall, and it was time for them to re-think how they should operate moving forwards.
With that said, one key area was, of course, Sony’s PlayStation 4 gaming console, which has become a selling machine with over 35 million international sales. This number keeps on climbing. Microsoft, on the other hand, hasn’t received the vast numbers in sales with their XBOX One console. Simply put, Sony seemingly had the right plan and Microsoft did not.
When it comes to business, the brand is extremely important. Sony’s decision to keep the PlayStation brand alive by simply using number 4 was a smart move. It was simple, expected and gave the impression of progression. On the other hand, Microsoft did the complete opposite with the XBOX One brand. Once you were to see their explanation, it kind of made some sense. However, it gave the opposite impression to the PS4, and ultimately a very confusing message.
With that said, Microsoft has, once again, delivered mixed messages with their newly announced console – Xbox One X. Many suggest the X could confuse those in a text, appear as a kiss. In other words, Microsoft is digging an even deeper whole for its Xbox brand. Whilst their new system will be more powerful than any other console available, the pricing is high and the system appears to dramatically lack content.
Whilst Microsoft’s XBOX One hasn’t been a disaster; after all it is selling, it’s clearly not achieving what Sony’s PS4 has to-date. Of course, this could change, it’s the nature of console gaming, especially in today’s ever-changing world. Price drops, exclusive games, accessories and importantly, virtual reality, which is sure to be somewhat of a game changer and effect future console buyer decisions. But, for now, that is in Sony’s court – as, again, they’ve kept things simple and direct with their PlayStation VR. Call the brand a little simple, but that’s often-what customers desire, it tells you exactly what it is – something of great importance.
Not every business model uses something simple or meaningful, but it sure has worked for Sony, and not just with the PlayStation 4, but with all of their previous console releases. What’s more, you could already place a bet that their future console release will likely be called the PlayStation 5. After all, why suddenly change a concept that is working really well? A key ingredient to remember for any business – or as the saying goes; if it ain’t broke, don’t fix it.
Jay, owner of PS4 Home and Gamerbolt, is quoted as saying: “Having a more powerful system at an initially cheaper price tag was probably a key reason as to why Sony had a better console launch. Add to this, the fact it is smaller, weighs less and there are many additional reasons to pick Microsoft’s competitor.”
Sony’s recent console upgrade, the PS4 Pro, is ready to compete with Microsoft’s newly announced Xbox One X. Signals are already showing that the PS4 Pro has the right strategy and Microsoft hasn’t learned from past mistakes.
Ultimately, there seems to be many lessons to learn from both Microsoft and Sony with the two products since they launched. Of course, they’re two juggernaut companies, but the same concepts apply at every level of business. From launching a product to developing a brand.
Here are the things we should take note of from Sony’s success:
. Keep a brand simple and progressive
. Initial costing
. Product design
. Always keep a close on eye on your competition
. Be better than your competitor
. Keep your consumers happy
. Ensure you come up with fresh ideas
. Don’t let a little success stop you from wanting more
. Ensure you understand the market
. Don’t overspend on adverting
. Be reliable and trustworthy
. Research every aspect of the business carefully
. Promote your product to the correct target market
I’m sure you’ll agree, it’s actually a great comparison when it comes to business, even though this shouldn’t be considered your average business venture. Marketing is just one aspect of an overall strategy, but this example shows how the product itself can actually be flawed. We are able to learn from others mistakes and take note, applying these lessons to our own business models. Which brand comparisons shout out to you something of importance? Leave your comments below.