I.

Introduction
B. Sony
1. Sony Corporation
Founded in 1946, Sony Corporation, more commonly known as Sony, is a Japanese
company mainly in electronics manufacturing yet has also ventured into films and music, among
others. The company was first incorporated as Tokyo Tsushin Kogyo which translates to Tokyo
Telecommunications Engineering Corporation and in 1958, changed its name to Sony (from the
Latin word sonus, meaning sound) as the company globalized. Through the years, the company
has supplied various electronics including electric rice cookers, tape recorders, transistor radios,
video cassette recorders, personal computers, and more. Four decades after the company
started, they diversified into the entertainment industry by acquiring CBS Records Group,
followed by Columbia Pictures Entertainment, Inc, and in 2002, launched Sony Online
Entertainment preceded by the success of its first video game console, the PlayStation which
provided 10% of their profit by 2002 (Hall, n.d.).
2. Playstation
According to Sterman, Jekarl, & Reavis (2011) the Sony PlayStation (PS1) was released
in 1994 after the earlier achievements of Atari and Nintendo in the video game industry with
Pong and Famicom (Nintendo Entertainment System) respectively. Although, the PlayStation
was distinct from the competition due to its three-dimensional games which were more life-like,
its compact-disc format which held more information than traditional cartridges while doubling as
a CD/DVD media player, and its less restrictive game selection. This led to the console reaching
$700 million in sales by 1996. Three years later, the PS1 makes up 60% of the American video
console market with the next, Nintendo, holding only half their market share while the
succeeding version, the PlayStation 2 (PS2) held a 55% market share by 2006.
3. Video Game Competition
As demand for home video consoles increased, companies have entered the market
launching their own consoles to rival the PlayStation. In 2001, Microsoft introduced the Xbox
which held 24% of the market in 2006, the Xbox 360 which launched in 2005. Meanwhile,
Nintendo had GameCube with 15% of the market in 2006 and the Wii releasing in the same
year as the PS2. Sega briefly entered the “console war” with Dreamcast which was more
interactive than its competitors being able to meet, chat, and play with each other. Although,
Dreamcast lagged behind in hardware revenue which led to the company exiting from hardware
development, focusing on its software releases instead. This left Microsoft, Nintendo, and Sony
competing for market share using varying strategies targeted to various audiences through
pricing, functionality, and game selection and quality (Sterman, Jekarl, & Reavis, 2011).

C. Game developers/publishers
The largest contribution to the growth of the gaming industry would be the constant
innovation from gaming software. Because of the continuous releases of various games from
Sony, Ubisoft, Gameloft, etc., producing consoles that allowed users to play these varying
games evolved the role of game developers as a whole. Being a top manufacturer of gaming
consoles, companies like Sony and Microsoft were able to profit off of both first and third party
game publishers for their compatibility with their devices, and generated a ripple effect for
revenue in the surrounding industries. Game publishers are those who fund the overall
development of the games, and this could involve scouting and supporting independent game
developers as well as producing the actual games from their respective manufacturers
(Sterman, Jekarl, & Reavis, 2011). On the other hand, game developers are those who design
and program the gaming software.
Conventionally, the top companies of gaming consoles also produced their own games,
which characterizes them as first party game publishers and acquire game development studios
that would exclusively produce games compatible with their consoles. The advantage of in-
house game developers would be more autonomy when it comes to the game’s distribution and
overall operations. However, third party publishers are those that partner up with independent
game developers, which are never permanently working with a single publisher, allowing them
more freedom to explore other publishing platforms that could distribute their game. As the
gaming industry became more saturated in the 1990s, game concepts became more creative
and the need to have the freedom to develop them brought on numerous developers breaking
away from their publishers to establish their own studio (Sterman, Jekarl, & Reavis, 2011).

II. Framework for Analysis

B. Porter’s Five Forces Analysis of Console Developers

Console developers are faced with a low threat of new entrants to the
industry. One major factor that serves as a barrier is the high capital requirement
needed to operate and compete within the market. New firms would need a
substantial amount of investment to acquire the resources needed for production
and to establish a strong brand. This consequently allows supply-side economies
of scale, giving incumbents an edge by forcing new entrants to enter at a cost
disadvantage. In addition to cost-benefits, incumbents are also in a better
position due to their established brand loyalty. Customers would incur high
switching costs should they shift towards a different supplier. In doing so, they
will have to forego certain games that are exclusively available to a developer.
Moreover, given that majority of the investments required to enter the industry
are illiquid in nature, it is difficult for firms to exit the industry.

The suppliers of hardware components, particularly those of

semiconductor chips, are more concentrated than the video game industry. This
implies that these suppliers have a low dependency on the industry. For
instance, Advanced Micro Devices (AMD) - the company responsible for the
CPUs and GPUs used in PlayStation and Xbox, also supplies processors for
commercial and consumer PCs. Since these materials are highly specialized,
there are little to no substitutes available. The varying capabilities of each
processor differentiate the product of one supplier from the other and make it
costly for console manufacturers to switch to a competing supplier. The
combination of all these factors contribute to the high bargaining power of
suppliers.
 Buyers of gaming consoles, on the other hand, have a moderate
bargaining power. Retailers possess monopsony power since they are the direct
customers of console developers and they purchase in large quantities.
Moreover, since these retailers carry multiple console manufacturers (ex. Sony,
Microsoft, Nintendo), switching costs are low. Although price sensitivity is one of
the main considerations in this console war, retailers are still likely to make a
purchase despite high prices since individual customers prioritize quality over
price. Furthermore, since console purchases do not make up a significant portion
of their total expenditures, retailers are less sensitive to price changes.

Personal computers, smartphones, tablets, and mobile games are among

the substitutes for gaming consoles as these provide comparable benefits to
customers. However, only PCs are considered as close substitutes since the
other products mentioned do not support similar gaming formats. Despite this,
the relatively higher price of PCs may deter customers from making the switch.
Overall, substitutes are a moderate threat to console developers.

Moving onto the rivalry among existing competitors, it has been

mentioned previously that developers produce differentiated products, resulting
in high switching costs for customers. Meanwhile, firms have high fixed costs and
low marginal costs due to the capital required to set up production facilities. In
the event that these firms decide to pursue expansion, they will again have to
shell out a huge investment. This makes it even more difficult for firms to exit the
industry later on. Perishability is also a concern for console developers since the
release of a new model would immediately devalue previous configurations.
Although there are only three major players in the industry, these firms are
roughly equal in size and therefore make viable competition. It was noted in the
case that in early 2006, Sony controlled 55% of the market share for video
consoles while Microsoft and Nintendo each have 30% and 15%, respectively.
Industry growth has also been steadily increasing over the years, as evidenced
by the volume and sales of video game software. In terms of diversity in their
approaches, Sony and Microsoft target core gamers or males in their 20s while
Nintendo maintains a more family-oriented approach. This results in a moderate
rivalry within the industry.

There are numerous complementary goods that are often purchased with
gaming consoles. Some of which are video games, monitors, TV, speakers,
headphones, virtual reality headsets, and gaming chairs. Given that these
complements are highly fragmented, it is relatively easier for customers to switch
across complements rather than to switch their gaming console. It is also easy
for customers to purchase consoles independent of these complementary goods,
giving complements a weak influence on console demand. However, video
games are an exception to this as they can foster brand loyalty. The absence of
 asymmetric threats and the high growth rate of profit opportunity further weaken
the influence of complements.

C. Porter’s Five Forces Analysis of Console Game Developers

Console game developers experience a low threat of new entrants.
Barriers to entry within the industry include economies of scale and high capital
requirements. Aspiring console game developers are faced with the challenge of
competing with established game developers’ technology and talent, along with
their capacity to churn out new and improved games faster. Not only that, new
entrants must also go around trademarks and copyrights of existing developers.
These trademarks also further the incumbency advantage as consumers tend to
exhibit game loyalty, not particularly brand loyalty, which is why lucrative
franchises are a big hurdle to overcome, especially for independent newcomers.
Moreover, since industry investments are illiquid in nature, such as the
technology, trademarks, and copyrights, this adds an additional barrier to exit.

In their value chain, console game developers’ suppliers include compact

disc (CD) or cartridge manufacturers and the casings of these discs or cartridges.
These manufacturers cater to many industries, not only the console game
developers, which means that they have low supplier concentration. These days,
the use of CDs or cartridges are dwindling with the emergence of their online
counterparts, wherein users may purchase the games directly from the console’s
online application store. As such, these online counterparts contribute to low
industry switching costs and the emergence of a significant substitute for supplier
products, as the option for online availability of games are easily accessible to
game developers and consumers alike. These CDs, cartridges, and casings are
non-differentiated and the threat of forward integration is very low as the
production of console games are highly specialized, which the said
manufacturers may not have the capability to produce. And lastly, since CDs,
cartridges, and casings are on the brink of obsolescence due to mass digitization
of software commodities, the suppliers are said to have a high dependence on
the industry. All in all, this results in a low bargaining power of suppliers.

Moving onto the bargaining power of buyers, customers are said to be

fragmented as retailers and individual consumers have the accessibility to
purchase these games, with the latter having “direct” access through console
application stores. Since there are multiple games in the market, customers
experience low switching costs due to the myriad of game choices available.
Essentially, console games are differentiated, with distinctions not only on the
genre, but also on the gameplay, quality, and the age and content ratings. In
terms of backward integration, there is a credible threat, particularly in the lens of
console developers, as they are able to develop their own games given the
technology and talent that they also possess. It is also determined that there is a
 low concentration of purchases, as console games do not represent a significant
fraction of their expenditures – be it console developers, retailers, or individual
consumers. Customers are also less likely to be price sensitive since many give
importance to the quality of gameplay that will be catered to them. Thus, buyers
are said to have a low bargaining power in this industry.

Console game developers face a massive hurdle through their

substitutes, which include mobile apps, computer games, and even online
gaming platforms such as Roblox. Essentially, these substitutes are very close,
particularly since some console game developers even produce their mobile and
computer counterparts of their games. Moreover, these substitutes tend to be
cheaper, with most being virtually free to download and access on the internet.

Looking into the rivalry among existing competitors, it was already

mentioned that industry players are faced with low switching costs but with
differentiated products. High fixed costs and low marginal costs are also present
due to the high wages needed to pay top talent, the investments needed for
technology, along with the trademarks and copyrights of the games. As such, this
also emphasizes the importance of economies of scale to keep afloat and
relevant in the industry. Perishability is also an issue, particularly when new
consoles are released and the existing games are incompatible with the new
software, raising the need for reconfiguration of games. With the rise of gaming,
the industry is faced with high growth. And as mentioned earlier, there exists high
exit barriers due to illiquid investments. Moreover, rivals tend to have diverse
approaches, with some targeting more of a wholesome approach for the games
they develop, while others focus on developing games for certain market
segments. In summation, there exists a moderate rivalry between competitors in
the industry.

Lastly, complements of console games are the consoles on which they

are played and the add-ons that are available for purchase to improve gameplay.
These complements are highly concentrated as console games are practically
hand-in-hand with consoles and add-ons tend to be purchased in-game. In terms
of relative switching costs, it is easier for consumers to switch games rather than
to switch consoles, giving the complements significant power. With regards to
unbundling, it is easy to unbundle consoles for games, as mentioned above
where consumers may opt to switch to different games if they like. Consoles also
have an influence on the demand for these games. Asymmetric threats are
present as some console developers are able to produce their own games or
acquire upcoming game developers if they see fit. And lastly, as there is a fast
industry growth, the rate of growth for profit opportunity is also high. Therefore,
complements have a powerful influence on the industry.

D. PESTLE analysis
Political ● While there is no single primary data protection legislation in the
US, there are several laws both at the federal and state level to
ensure the privacy of consumers. The Federal Trade
Commission monitors whether businesses comply with their
published data privacy policy or if they engage in malicious
practices such as deceptive marketing (Pittman & Levenberg,
2021).
● Political stability and trade regulations are crucial to businesses
such as Sony who operate a global supply chain and cater to an
international market as these can affect production costs
(Whitten et al., 2020).

Economic ● Per capita disposable personal income in the US has been

steadily increasing over the years. In 2006, an average
American has $11,384.7 to spend after paying for taxes and
other mandatory charges, which is a 7.35 percent increase from
the previous year (U.S. Bureau of Economic Analysis, 2021).
● The rise of e-commerce provides an opportunity for businesses
like Sony to reach a wider audience. Online platforms such as
Steam allow consumers to download video games without
purchasing a physical disc or cartridge. In the US, the total value
of e-commerce (ie. sales, shipments, and revenue) grew by 13.9
percent year-on-year in 2006 (U.S. Census Bureau, 2008).

Social ● As video games became more graphic and lifelike, parents

began to worry whether these games perpetuate violence
among its users. Despite having no scientific evidence to prove
this correlation, some argue that playing such games contribute
to aggressive behavior (ex. the school shooting that occurred in
1999) (Hilgard et al., 2019).
● Recent lifestyle changes have transformed how individuals view
leisure. A study by Morse et al. (2021) shows that participants
devote more time to leisure activities now as they are perceived
as a crucial aspect in maintaining one’s well-being.

Technological ● Between 2005 and 2006, the number of Americans with home
broadband connection increased from 60 to 80 million. During
the same period, households have begun to transition to a
wireless broadband connection or Wi-Fi, with a total of 6 million
users (Pew Research Center, 2006). Since then, numerous
advancements have been made with regard to accessibility and
speed. This allows consumers to play online multiplayer games
against other gamers in real time.
 ● The global shortage of semiconductor chips, which started in
2020, has caused a slowdown in various industries from
automobile, home appliances, as well as the video game
industry. Analysts from JPMorgan expect this shortage to
continue until 2022 (Choudhury, 2021).

Legal ● Video games and other entertainment softwares are subject to

consumer protection regulations such as age-based restrictions.
These may differ per country (ex. Entertainment Software Rating
Board, Pan European Game Information, Australian
Classification Board, Russian Age Rating System, etc.) (Chivers,
2021).
● The video game industry is constrained by various intellectual
property laws that are highly complex in nature. As an artistic
and literary work, video games are copyrightable. Meanwhile,
video game titles and other branding elements are covered by
trademark laws. Although consoles are generally not
copyrightable, developers may apply for patent protection for a
unique device or system (WIPO, n.d.).

Environmental ● As consumers became more environmentally conscious, the

demand for “green” or ecological products have spiked in recent
years. According to a study by the Economist Intelligence Unit,
Google searches for sustainable goods have increased by more
than 70 percent globally within the last 5 years (Bonini, 2021).
● The video game industry is plagued with numerous
environmental concerns (Kondratenko, 2021). The electricity
consumption of gaming, coupled with the energy used for high
resolution cloud-based game distribution, produces a significant
amount of CO2 emissions. In addition to this, e-waste is
becoming a more urgent problem each year with the rapid
introduction of new electronic devices. More than just the sheer
volume of waste, electronics contain hazardous chemicals that
pose environmental and health concerns.

E. Summary
After analyzing the industry environment through the lens of both the
console developers and game developers, we can then derive Sony’s
competitive advantage. As such, Sony is able to make its mark in the industry
through innovation that cultivates brand loyalty, primarily through enabling more
games on their consoles. The problem then arises how Sony can maintain their
majority market share in the industry with their launch of the PS3.

III. Course of Action

 A. Intra-organizational strategy

1. Invest on future tech for improved gaming experience - to differentiate /

set apart from close substitutes (mobile games, pc games, gaming
websites)
Sony needs to continually innovate their consoles to remain on top of its competitors.
Currently, consoles are not only the mediums of gaming for users, there are close substitutes
such as mobile games, pc games, and gaming websites. Having new innovations limited to
Sony will allow great product differentiation that would make consumers choose the Sony
playstation over other gaming alternatives. Providing a niche would allow the playstation to
remain at the top of the market and also gain the most market share amongst its direct and
indirect competitors. Additionally, the continuous improvements to technology allows the
company to release new and upgraded consoles allowing it to catch up with new and more high
tech games.

2. Don’t engage in a price war

Prioritizing a good gaming experience is a better strategy than utilizing low prices to gain
a competitive advantage. Reduction of cost might lead to compromising the quality of the
console and decrease sales. Despite the price war of Sony’s direct competitors, Sony should
put emphasis on the quality of the console and gaming experience it could provide.

3. Marketing Strategy (for consumers)

Sony can improve their marketing and advertising efforts through positioning their
playstation as a lifestyle brand. This approach will encourage users to view the product as
something practical rather than a luxury. By emphasizing on the multiplayer features, Sony can
also promote a virtual hangout idea amongst friends who enjoy playing games. Promoting the
Sony playstation as an avenue for a virtual hangout could also increase incremental sales as
this encourages every member of a friend group to purchase their own console.

B. Interorganizational strategy

1. Focus on providing quality games/Focus on what makes the console

bankable
Given that the main purpose as to why people buy consoles is for the gaming
experience, Sony should put its focus on providing quality gaming. This could be done through
creating long-term partnerships with video game creators. Both video game creators and Sony
can both adjust their products to be compatible with each other producing the most out of the
game’s quality. Good compatibility will create the best gaming experience possible. By having
games that are only available for Sony, consumers will be persuaded to purchase their own
PS3.
2. Trade-in programs: Refurbishing old products to cut manufacturing costs
Another course of action Sony can consider is providing a trade-in program where
customers can "trade in" their old consoles. Essentially this program will promote previous users
to purchase the new Sony playstation model at a discounted price. This trade-in program is
beneficial for both parties as it would allow Sony to cut manufacturing costs. Parts of the
previous models could be used to create a new refurbished model which will then be sold at a
discounted price for Sony and allow cost conscious people to still purchase the product.
Furthermore, this program will allow Sony to improve their customer loyalty as discounts serve
as an incentive to purchase the latest playstation model.

3. Bundle deals: Create bundle deals for complementary products (Console

+ speakers / console + gaming headphones / console + games)
Aligned with providing discounts, bundle deals are also an effective way to promote the
complementary products that would make the Sony playstation experience better. Sony is
known to manufacture other products such as monitors, headphones, etc. By creating
agreements with retailers, bundling items will encourage users to purchase the deal as it
presents itself worth the price. By partnering up with video game creators, Sony can bundle the
console with the video game plus have a console designed with the theme of the video game.
With this, consumers who are fans of the video game will be more inclined to purchase the
console bundle.

IV. Metrics of success

Determining whether the proposed courses of action would successfully improve Sony’s
market position with its release of their new gaming console, several quantitative criteria
indicating the progress of the business activity must be observed to better understand what
strategies need adjustment or further strengthening.

A. Unit sales
Given its competitive advantage in game development and interface, monitoring the unit
sales of the new gaming console is an appropriate metric of the launch’s success due to its
innovation in comparison with older Sony Playstation models. To maintain the company’s
advantage over its competitors, the unit sales must reflect the demand for the new PS3, basing
it off of the current base of loyal consumers and Sony’s ability to increase it by enticing a wider
market with the gaming innovation that the brand promises over opposing gaming consoles.
This factor is also in consideration of the analysis that buyers of gaming consoles have low
bargaining power because switching to other gaming consoles is costly, and have very few
identifiable close substitutes (i.e., PC, tablets, smartphones) that offer the same gaming
experience. Achieving the targeted sales volume with the aid of the proposed bundle deals and
trade-in programs will in turn achieve economies of scale for Sony’s capital investment for the
new gaming console altogether.

B. Profitability
Sony’s release of the PS3 was a strategic move targeted to maintain, if not improve, the
company’s competitive advantage of being at the forefront of the gaming industry with its goal of
constantly improving their users’ playing experience. Their ability to influence market trends due
to their product innovation allows for them to be one of the most competitive companies in the
industry, and therefore, one of the most profitable. In ensuring that users of gaming consoles
associate Sony’s products with top-notch gaming equipment, their strategy to remain ahead of
their competitors ensures that they would remain profitable, especially with their next console
release. Closely related to Sony’s advantage of an already loyal customer base, the trade-in
program would further strengthen this by making it more accessible for existing users to engage
in the new console release, while at the same time allowing more room for the company to cut
down on manufacturing costs. Companies that produce complementary products to gaming
consoles (i.e., audio/visual equipment) that see Sony as a competitive firm in the industry would
also be encouraged to tie up with its new console release, and further promote its product,
increasing PS3’s profitability in comparison to its competitors.

C. Number of users
As briefly mentioned, an increase in the number of PlayStation users is a definite
determinant of success in Sony’s upcoming console launch, because this would be a direct
relationship to increased profits and units sold. In a study by Arakji & Lang (2007), product
innovation is generally driven by producer-consumer collaboration, which elicits a more efficient
way to address the quick pace of changing consumer needs. In the context of the gaming
industry, digital consumer networks consist of lead users, who constitute “need-forecasting”
agents to firms such as Sony, which better aids them in knowing how else to improve their
products to enable their number of users to expand beyond just experienced gamers.

D. Market share
Market share has long been accepted as a determinant of profitability wherein larger
businesses with more market share are more profitable than rivals with less market share due to
various reasons including economies of scale, market power, and management quality (Buzzell,
Gale, and Sultan, 1975). This relationship, according to Rosenberg (1976) is further
strengthened by the Schumpeter Hypothesis which states that large firms more than smaller
firms influence technological innovation. Through economies of scale in research and
development, the innovative activities of the company improve and become more productive.
Moreover, market share can be a proxy for cost advantages accumulated by a business
including product differentiation, stronger consumer base, and economies of scale for
production and marketing (Rosenberg, 1976). This metric shows the number of customers who
choose to purchase a PlayStation over rival consoles and is found by dividing the total industry
revenue by the total PlayStation revenue and multiplying this number by 100 to get its
percentage.

E. Active accounts
The number of active accounts represent how many active users are currently using the
platform or network which positively affect profitability as a proxy for service satisfaction due to
the implied continued use of the customer. With this, Momanyi (2015) found a positive
relationship between the number of active users of online banking and profitability of their
respective banks. For PlayStation, this would be measured by the number of active users in the
PlayStation network which according to Clement (2021), is approximately 104 million users as
of September 2021, more than double its active users in 2014 which totaled 50 million in March
of that year.
V. Timeline
B. From r&d to promo and release of new console to post-release releases (pro
version, partnerships, etc.)

Time 3 years 2 years 1 year Release 1 year after 2 years onwards

prior prior prior

R&D

Partnerships
(Game
Developers)

Marketing/
Advertising

Partnership
(Retailers):
Promos

Post-
release
consoles
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