Q. What should Sonic's mission be?
MISSION
Sonic is committed to producing affordable state-of-the-art, multi-functional electronic devices that provide convenient entertainment, communication, and information storage for consumers and business users on the go.
Q. In what competitive spheres (industry, products and applications, competence, market-segment, vertical and geographic) should sonic operate?
The competitive spheres in which Sonic should operate (Kotler):
Industry: Personal digital assistant, telecommunication, and multi-media products. Product and Applications: Multi-function, multi-media digital assistant products that have advanced features such as hands free capabilities, Wi-Fi, GPS at ultra-fast download…show more content… Suppliers have power because of low volumes but differentiation focused firm is better able to pass on supplier price increase
Threat of Substitutes Can use low price to defend against substitutes Customer become attached to differentiating attributes, reducing threat of substitutes Specialized products & core competency protect against substitutes
Rivalry Better able to compete on price Brand loyalty to keep customer from rivals Rivals cannot meet differentiation-focused customer needs
REFERENCES
Kotler, P. & Keller K. L. (2012). Marketing Management, Fourteenth Edition. New Jersey, Pearson Education Inc. publishing as Prentice Hall.
Kotler, P. & Keller K. L. (2009). Marketing Management. New Jersey, Pearson Prentice Hall.
Quick MBA: “Porter’s Generic Strategies”. Retrieved August 16, 2012. http://www.quickmba.com/strategy/generic.shtml
Chapter 3
A. What demographic changes are likely to affect Sonic's targeted market?
Demographic changes likely to affect Sonic's target market include a reduction in income for middle to upper class consumers, decline in college attendance, decrease in family size, and an increase in blue-collar workers (Kotler). As the economy continues to be unstable, more and more middle to upper class consumers are experiencing a decrease in wages. Due to economic
