Speaking to Reuters on Monday, Sega Corp's corporate director Masano Maeda has stated that PS3 is in dire need of a price cut and superior marketing strategies are a requirement in an industry where software availability is becoming less of a unique selling point.

Name brand, price and software are what count," Sega Corp. corporate director Masanao Maeda told Reuters in an interview on Monday.

"Since it's getting difficult to make software availability a differentiating factor, superior marketing and pricing strategy will be the key for Sony."

Sega Corp. is the game unit of Sega Sammy.

Sony, which has dominated the $30 billion global game industry over the past decade with its PlayStation and PlayStation 2, saw a slow start for the PS3 due mainly to its high prices and lack of attractive software titles.