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PS3- 24-karat Gold Plated- Sells for $4,999=> Powerful Marketing Lesson Inside

by Peter Helps
10 replies
Hey guys,

I just came across this article. PlayStation is releasing their PS3 in 24-karat gold with a one year warranty. The starting price is $4,999. Nice, huh?

Gold PS3 is gold, costs five grand - Plugged In - Yahoo! Games

But what can we, marketers, learn from this? I think we can learn few things:

1. PR - Obviously, stunt like this will get PS3 some major publicity. Not that they really need it but they did end up on the front page of Yahoo. Think about how you can reposition your product for higher publicity. PS took their regular product and gave it bling, literally!

2. Unique Positioning - Some people might think: Who the hell is going to buy that? I bet you that PlayStation has done their homework to make sure there is a target audience for that and I bet you there is. Not everybody is poor in this economy. Nice profits here. I don't know about I.M. covering their products in gold but we can really get some good ideas here.

3. Perceived value - Talk about giving your product a high perceived value? This $300 product covered in gold goes for $4,999. Nicely done! See how easy it is to add perceived value to your product

That's all I have for now. What do you guys think? Any ideas? How can we apply this type of marketing in our businesses?

Peter
#24karat #999> #gold #inside #lesson #marketing #plated #powerful #ps3 #sells
  • Profile picture of the author HomeComputerGames
    Perhaps Google should have used gold instead of chrome on their browser :rolleyes:

    I believe computer choppers are the ones that do the customization and have it for sale.
    But under $5k for a full page ad on the #3 website in the world seems like a damn good deal.
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  • Profile picture of the author Adam Carn
    You could get them much cheaper on eBay...

    24ct GOLD Plated Sony PlayStation 3 PS3 Games Console on eBay (end time 23-Dec-09 18:45:33 GMT)

    But you're right nevertheless, interesting post.

    Adam
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  • Profile picture of the author Peter Helps
    Thanks Adam. I just went over to that post on ebay and it had 0ver 1200 views already. Whoever is doing that Ebay listing knows one thing or 2 about marketing.

    He's capitalizing on a buzz and is getting a nice attention. Cool!

    Peter
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  • Profile picture of the author P.Sharma
    that looks so good and nice observations
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  • Profile picture of the author Peter Helps
    Thanks Sharma. I wanted to share this with the warriors because I think we can benefit from it.

    FTC Disclaimer: I am not making any money from this. I'm not a PS employee. If fact, if you buy the PS3 gold version, and then leave it sitting on the shelf, you will never get to play any videos, possibly gain some weight and form carpal tunnel syndrome. However, if you buy this product and actually use it as intended, you will possibly gain all of the above stated benefits and enjoy countless hours of non productive time.

    Gotta love the new FTC rules! Aggrrrrr...

    Peter
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  • Profile picture of the author captivereef
    Actually i like PS3 over Xbox due to the fact online gaming is free, with that said i have an Xbox360 and cannot stop playing modern warfare 2. What else is there to do when it 2 degrees outside
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  • Profile picture of the author cgrongs
    3. Perceived value - Talk about giving your product a high perceived value? This $300 product covered in gold goes for $4,999. Nicely done! See how easy it is to add perceived value to your product

    That's all I have for now. What do you guys think? Any ideas? How can we apply this type of marketing in our businesses?

    Peter[/quote]

    Gotta love the new FTC rules! Aggrrrrr...

    r4king.com/dualshock-3-wireless-controller-with-bluetooth-for-ps3.html
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    • Profile picture of the author paulie888
      Originally Posted by cgrongs View Post

      3. Perceived value - Talk about giving your product a high perceived value? This $300 product covered in gold goes for $4,999. Nicely done! See how easy it is to add perceived value to your product

      That's all I have for now. What do you guys think? Any ideas? How can we apply this type of marketing in our businesses?

      Peter

      Typically, the asking price is many multiples of the premium materials utilized (just a very thin layer of gold coating). This premium strategy seems to work quite well for cellphones too, have a look at this gold cellphone that sells for $200,000+ (!)

      Stuart Hughes' gold Privé brick phone redefines 80s excess -- Engadget
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  • Profile picture of the author Hoodyy
    Originally Posted by Peter Helps View Post

    Hey guys,
    See how easy it is to add perceived value to your product
    Damn, now I just need to source some 24 karat gold...

    All jokes aside, this definitely shows that doing some sort of relaunch of your product with 10x more perceived value than the product normally could be a winner. Even if it ACTUALLY is only 10 copies available etc.

    I've seen Lee McIntyre do this sort of strategy. He offered personal, one-to-one coaching with the first 10 people who bought a certain product. Not only did that help sales of that product, it also was great for promoting his brand etc.
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