a) Slashing the price.
b) Paying big money for exclusives.
Either way, Sony is going to have to take a hit to right the ship. If they truly can't do that, then I don't see the Vita bouncing back.
a) A price cut will definitely help... Sony is being too slow to make the bold changes it needs but it also loose too much money on each unit sold as is and can't really afford price cuts
b) The PS+ promotion is a great way to entice PS3 PS+ subscribers to start seeing themselves as having a game-library on PS-Vita that they are not utilizing. Might cause some hardware to move. It will finally happen next week, so again while PS3 got the big surge of PS+ value at E3, the Vita is yet to get such a surge.
c) Is Sony even marketing their games that are valuable enough to sell the hardware to the right people if they would just learn about it? I give example of game Smart As which got an 8.5/10 review from IGN but I think is more like a 10/10 game for people that jumped on board the Brain Age games for Nintendo DS. That was a system seller... yet the Smart As game gets no coverage, no promotion, no Kiosk demos, no mall demos, no showing at E3, etc.
d) The "console" experience on the go promise that became the PS-Vita messaging platform is yet to be realized, because console gaming is so much better than the games made so far on the PS-Vita. It isn't competing against the 3DS or iPhone... it is competing against the PS3 and X360 by targetting its games and marketing at that already very satisfied crowd with more games than time to play them. The same crowd that only wants free version of their PS3 game on PS-Vita with cloud save feature so they can resume on PS3 when they get back home. Why would they spend $250 for portable to just play their PS3 games on the go... especially if they had to buy 2 copies of the game to do it.
The PS-Vita marketing intended to promote how "powerful" it is has done nothing but hurt it because it targets PS3 players and the results on PSV are not as "powerful" as the PS3.