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“SONY PICTURE ENTERTAINMENT.” UNIVERSITY OF MUMBAI PROJECT ON MARKETING STRATEGY ON SONY PICTURE ENTERTAINMENT SUBMITTED BY NITHESH MOHAN BANGERA PROJECT GUIDE Mrs. MAHALAKSHMI SANKAR BACHELOR OF MANAGEMENT STUDIES SEMESTER V (2009-10) V.E.S. COLLEGE OF ARTS, SCIENCE & COMMERCE, SINDHI COLONY, CHEMBUR – 400071 1 “SONY PICTURE ENTERTAINMENT.” UNIVERSITY OF MUMBAI PROJECT ON MARKETING STRATEGY ON SONY PICTURE ENTERTAINMENT SUBMITTED BY NITHESH MOHAN BANGERA PROJECT GUIDE Mrs. MAHALAKSHMI SANKAR BACHELOR OF MANAGEMENT STUDIES SEMESTER V (2009-10) V.E.S. COLLEGE OF ARTS, SCIENCE & COMMERCE, SINDHI COLONY, CHEMBUR – 400071 2 “SONY PICTURE ENTERTAINMENT.” UNIVERSITY OF MUMBAI PROJECT ON MARKETING STRATEGY ON SONY PICTURE ENTERTAINMENT Submitted In Partial Fulfillment of the requirements For the Award of the Degree of Bachelor of Management By NITHESH MOHAN BANGERA PROJECT GUIDE Mrs. MAHALAKSHMI SANKAR BACHELOR OF MANAGEMENT STUDIES SEMESTER V (2009-10) V.E.S. COLLEGE OF ARTS, SCIENCE & COMMERCE, SINDHI COLONY, CHEMBUR – 400071 3 “SONY PICTURE ENTERTAINMENT.” DECLARATION I NITHESH MOHAN BANGERA student of BMS – Semester V (2008-09) hereby declare that I have completed this project on MARKETING STRATEGY ON SONY PICTURE ENTERTNAINMENT . The information submitted is true & original to the best of my knowledge. Student’s Signature Name of Student NITHESH MOHAN BANGERA 4 “SONY PICTURE ENTERTAINMENT.” C E R T I F I C A T E This is to certify that Mr. NITHESH MOHAN BANGERA Of TYBMS has successfully completed the project on MARKETING STRATEGY ON SONY PICTURE ENTERTAINMENT under the guidance of _Mrs. MAHALAKSHMI SANKAR. Project Guide Principal Mrs. MAHALAKSHMI SANKAR Dr. (Mrs.) J. K. PHADNIS Course Co-ordinator Mrs. A. MARTINA External Examiner 5 “SONY PICTURE ENTERTAINMENT.” T.Y.BMS. 100 MARKS PROJECT TOPIC: “MARKETING STRATEGY ON SONY PICTURE ENTERTAINMENT.” 6 “SONY PICTURE ENTERTAINMENT.” ACKNOWLEDGEMENT With great pleasure I would like to take this opportunity to acknowledge all the people who have assisted me in the completion of the project. First of all I would like to thank my project guide Mrs. Mahalakshmi Sankar for helping me to gather information and for guiding me with valuable inputs and at crucial stage of my project. Finally I would like to thank Mr. Dheeresh Bangera Marketing Executive for giving his co-operation and time and supplying me with necessary matter in respect of the company for bringing out this project report. 7 “SONY PICTURE ENTERTAINMENT.” INDEX 1. SONY PICTURE ENTERTAINMENT 11-13 1.1. INTRODUCTION 1.2.HISTORY 1.3.ORIGIN OF NAME 2. SONY PICTURE ENTERTNIMENT MOTION PICTURE 14-16 GROUP 2.1. INTRODUCTION 2.2. ANIMATION FILM 3. SONY PICTURE HOME ENTERTAINMENT 17-21 3.1 BLU-RAY DISC 3.2 DVD 3.3 VCD 4. HIT MOVIES 22-23 4.1 BOX OFFICE WINNERS 4.2 THE OSCARS FOR THE BEST PICTURES 8 “SONY PICTURE ENTERTAINMENT.” 5. MARKETING MIX 24-37 5.1 SONY PRODUCT 5.2 SONY PLACE 5.3 SONY PROMOTION 5.3.1 SALES MARKETING COMMUNICATION MIX 5.3.2 ADVERTISING 5.3.3 SALES PROMOTION 5.4 SONY PRICE 6. MARKETING RESEARCH 38-43 6.1 RESEARCH DESIGN 6.2 RESEARCH INSTRUMENTS 6.2.1 FACE -TO-FACE INTERVIEWS 6.2.2 INTERNET 6.3 SAMPLE SIZE 6.4 FINDING 6.5 ANALYSIS 7. QUESTIONNAIRE 44 8. CONCLUSION 45 9. BIBLIOGRAPHY 46 9 “SONY PICTURE ENTERTAINMENT.” 10 “SONY PICTURE ENTERTAINMENT.” 11 “SONY PICTURE ENTERTAINMENT.” 1. SONY PICTURE ENTERTAINMENT 1.1 INTRODUCTION Sony Picture Entertainment is a multinational conglomerate corporation headquartered in Tokyo, Japan and one of the world’s largest media conglomerate with revenue of US $88.7 billion (as of 2008) based in Minato, Tokyo. Sony is one of the leading manufacturers of entertainment (motion picture and music), DVD, CD, BLUE-RAY DISK products for the consumer and professional markets. Its name is derived from sonus, the Greek goddess of sound. Sony’s principle business operation includes Sony Corporation (Sony Entertainment in the US). Sony Picture Entertainment, Sony Computer Entertainment, Sony BMG Music Entertainment, Sony Ericsson and Sony Financial Holding. As a semi-conductor maker, Sony among the worldwide Top 20 semi-conductor Sales Leader. The company’s slogan is Sony like No Other. Sony Pictures Entertainment, Inc. produces and distributes motion pictures and television programming. It engages in the acquisition and distribution of home video; operation of studio facilities for production services; development of new entertainment technologies; development of entertainment products and services for broadband distribution; and distribution of filmed entertainment. The company also offers interactive agency and digital marketing services, including digital marketing strategy, online research, customer relationship management, product development, and Website design and development; digital sound format for motion picture theatres; post production, scoring, re-recording, Foley and ADR stages, plus screening rooms, and editing services through its post production facilities; and feature film clip/still licensing. Sony Pictures Entertainment, Inc. was formerly known as Columbia Pictures Entertainment, Inc. The company was founded in 1987 and is based in Culver City, California. As of October 31, 1989, Sony Pictures Entertainment, Inc. is a subsidiary of Sony Corporation of America. 12 “SONY PICTURE ENTERTAINMENT.” 1.2 HISTORY Just after World War II in 1945 a man named Masaru Ibuka started a small radio shop in an old bombed-out building in Tokyo, Japan. Shortly afterwards, he was joined by friend and colleague Akio Morita. They founded the company Tokyo Tsushin Kogyo. First, came the thought to use the initials of the company, but TKK was taken by a Japanese railroad company at the time. Next, came the name Totsuko. It was well received, but the American public had a difficult time pronouncing it. Morita thought of the Atchan character and came up with the name Sony. A mix of the Latin word meaning son and sonny (little boy) the company officially changed the name to Sony in January of 1958 In 1989, Sony acquired the American film and television production company Columbia Pictures Entertainment, Inc. (Columbia Pictures, Tri-Star Pictures, etc.) from The Coca-Cola Company for US$ 3.4 billion. The company was renamed Sony Pictures Entertainment in 1991. Sony has since created numerous other film production and distribution units, such as creating Sony Pictures Classics for art-house fare, by forming Columbia Tri-Star Pictures (also known as the Columbia Tri-Star Motion Picture Group) by merging Columbia Pictures and Tri- Star Pictures in 1998, revitalizing Columbia's former television division Screen Gems, and expanded its growth on April 8, 2005, when a consortium led by Sony and its equity partners acquired the legendary Hollywood studio Metro-Goldwyn-Mayer in a deal worth nearly US$5 billion. Sony Picture Entertainment is a multinational conglomerate corporation headquartered in Tokyo, Japan and one of the world’s largest media conglomerate with revenue of US $88.7 billion (as of 2008) based in Minato, Tokyo. Sony is one of the leading manufacturers of entertainment (motion picture and music), 13 “SONY PICTURE ENTERTAINMENT.” Masaru Ibuka and Akio Morita, the founders of Sony 1.3 ORIGIN OF NAME When Tokyo Tsushin was looking for a Romanized name to use to market them, they strongly considered using their initials, TTK. The primary reason they did not is that the railway company Tokyo Kyuko was known as TKK. The company occasionally used the acronym "Totsuko" in Japan, but during his visit to the United States, Morita discovered that Americans had trouble pronouncing that name. Another early name that was tried out for a while was "Tokyo Teletech" until Morita discovered that there was an American company already using Teletech as a brand name. The name "Sony" was chosen for the brand as a mix of two words. One was the Latin word Sonus which is the root of "sonic" and "sound" and the other was "sonny", a familiar term used in 1950s America to call a boy. Morita pushed for a word that does not exist in any language so that they could claim the word "Sony" as their own (which paid off when they successfully sued a candy producer using the name, who claimed that "Sony" was an existing word in some language). At the time of the change, it was extremely unusual for a Japanese company to use Roman letters instead of kanji to spell its name. The move was not without opposition: TTK's principal bank at the time, Mitsui, had strong feelings about the name. They pushed for a name such as Sony Electronic Industries, or Sony Teletech. Akio Morita was firm, however, as he did not want the company name tied to any particular industry. Eventually, both Ibuka and Mitsui Bank's chairman gave their approval 14 “SONY PICTURE ENTERTAINMENT.” 2. SONY PICTURE ENTERTAINMENT MOTION PICTURE GROUP 2.1 INTRODUTION Releases about 30 films per year Sony picture entertainment releasing companies, Sony Pictures Releasing (U.S.) and Columbia Tri-Star Film Distributors International, are responsible for sales, distribution and marketing of SPE's film product in 67 territories worldwide SPE's international motion picture operations include Deutsche Columbia Tri-Star in Germany, Columbia Pictures Film Production Asia in Hong Kong and operations in the United Kingdom, Brazil and Spain The motion picture library is one of SPE's most valuable assets, featuring more than 3,500 films, including 12 Best Picture Academy Award® Winners Sony Pictures International Motion Picture Production Group is an industry pioneer in studio supported local language production programming. The division is currently in pre or post production on 10 films that will be distributed in countries including Germany, India, Russia, Mexico and the United Kingdom. For seven consecutive years between 2002-2008, films from Sony Pictures Releasing have generated more than $1 billion in box office sales in North America as good in India, an industry record matched by only one other studio.