Markstrat Report
ii) COMPETITION: Identify an industry that is most similar to your markstrat world that housed sonites and vodites or identify two industries one each for sonites and vodites - Cull out the similarities in competition between real world and markstrat world.
One example in comparison to Sonites and Vodites in Markstrat world to real world is Portable media player (WALKMAN) and mobile phones
Portable media player, popularly called Walkman, brand trade name owned by Sony was introduced in the year 1979. This was the entirely a new concept introduced by Sony and subsequently adopted by other players in the market. The time before the Walkman, people were using Tape Recorders for listening songs which were not portable.
Soon after the introduction of Walkman, Sony faced stiff competition in the market. In early 80’s Panasonic came up with a new model in reduced size and with improved sound quality. Similarly every now and then, a new product came up with the more conveniences and better performances. Consumers’ minds were also changing time to time, they were preferring more of convenience and better performances than earlier.
Sony cannibalized many of its products in this same segment to give way for the new improved products from the same category. And later after losing its dominant market share to other companies, they left the Walkman market and entered in to music-centred mobile phones marketed under the Sony Ericsson brand. They came up this product after huge investments in R&D. They fore saw a new market with huge potential, ie the mobile phones with music players, which is huge success even today.
Today, the consumers who were using portable media players shifted to mobile segment, but still, few consumers remains in this segment and demanding very high convenience and better performances like people still preferring iPod for its convenience and its performance. But the growth of entire market for Portable media player is stagnant.
In Markstrat
One example in comparison to Sonites and Vodites in Markstrat world to real world is Portable media player (WALKMAN) and mobile phones
Portable media player, popularly called Walkman, brand trade name owned by Sony was introduced in the year 1979. This was the entirely a new concept introduced by Sony and subsequently adopted by other players in the market. The time before the Walkman, people were using Tape Recorders for listening songs which were not portable.
Soon after the introduction of Walkman, Sony faced stiff competition in the market. In early 80’s Panasonic came up with a new model in reduced size and with improved sound quality. Similarly every now and then, a new product came up with the more conveniences and better performances. Consumers’ minds were also changing time to time, they were preferring more of convenience and better performances than earlier.
Sony cannibalized many of its products in this same segment to give way for the new improved products from the same category. And later after losing its dominant market share to other companies, they left the Walkman market and entered in to music-centred mobile phones marketed under the Sony Ericsson brand. They came up this product after huge investments in R&D. They fore saw a new market with huge potential, ie the mobile phones with music players, which is huge success even today.
Today, the consumers who were using portable media players shifted to mobile segment, but still, few consumers remains in this segment and demanding very high convenience and better performances like people still preferring iPod for its convenience and its performance. But the growth of entire market for Portable media player is stagnant.
In Markstrat