This past Wednesday, Sony introduced the PlayStation 4 to much fanfare and a few criticisms. While the demonstrations certainly looked incredible, Sony failed to actually show the PS4 during the entire two-hour presentation.

While people are certainly hyped up about the PS4, Microsoft, one of Sony's biggest competitors in the video game market, can capitalize on this when they unveil the rumored Xbox 720. Here are two other ways Microsoft's Xbox 720 can outshine Sony's PS4.

1. Actually Bring The Console To The Launch

It doesn't sound that complicated, but Sony opted not to bring the PS4 to its Wednesday event, and some fans were not pleased. The PS4 is rumored to be released around the 2013 holiday season, so Sony has 10 months before the product actually goes on sale. But the problem is everyone is waiting to see what the console looks like. Shareholders, as the ones financing the company, have a right to see what Sony has been building for the past few years and make investments based on what they see. Since Wednesday, Sony's stock (NYSE: SNE) has been falling precipitously.

Microsoft can assuage Wall Street's concerns about its next-gen console by actually unveiling it. Shareholders and potential customers alike will be relieved to see a (hopefully) sleek and modern update to the Xbox 360 during Microsoft's presentation.

2. Keep The Price Low

Sony didn't announce any pricing terms during its event Wednesday, but rumors indicate the PS4 will be priced between $300 to $500 for all models. It seems like Sony learned from its mistake when the PS3 came out in 2006, where they charged a staggering $600 for the console and initial sales were poor and didn't pick up until the company lowered the price for the PS3.

Unlike Sony, Microsoft had a perfect strategy in 2006, pricing the Xbox 360 high enough to make a decent profit but lower than Sony's PS3. And it worked, as Microsoft's Xbox 360 became one of the best-selling video game consoles ever. Analysts hypothesize the alleged Xbox 720 will come in two different models and be priced at $300 and $400, respectively. With these prices, the Xbox 720 could still be competitive with Wii U, undercut the PS4's prices and potentially make a profit for Microsoft.

3. Release An Amazing Controller/Kinect 2.0

Sony has drastically updated its DualShock controller, and the fourth version might be its best: a touchpad, motion sensors installed into the controller and a share button. Analysts feel that with the DualShock 4 controller, Sony has gotten ahead of the competition. However, Microsoft can easily win back critics by introducing a new controller with as many features as the PlayStation 4 or working on Kinect to turn it into the "next-gen controller."

Microsoft and the Xbox team has an opportunity to build off competitors like Sony and Nintendo and make an even better product. Back in 2005, the Xbox 360 was released before the PlayStation 3, and Sony managed to add some features like a Blu-Ray drive and Wi-Fi connectivity to the PS3. Hopefully, Microsoft can manage to add some features to the rumored Xbox 720 after Sony's event Wednesday that can separate the 720 from other next-gen devices.