This assignment is approximately marketing management of Sony Cooperation. The principles and concepts of marketing are discussed in details in this assignment. Following will be the known reasons for selecting Sony Corporation:
Sony has a universal existence being a multinational company.
With variety (variety) of products
Financial strength with MNC to inspect and enforce all aspects of the Marketing Mix including high spending on Promotions.
Sony's corporate culture that was established 60 years ago roots the current financial difficulties. Strong planning and strategies should be implemented in such a big multinational corporation.
Better communication and cooperation internally in different departments of the company is essential. To produce standards in new fields concordant and cooperation between competition should be sorted out. Instead of being rebel, Sony should aim at being the leader.
Rather than striving on the fast and easily changing consumer goods market, Sony should use its technological knowledge for well developed and prosperous business.
Sony spirit of innovation should remain intact even with structure and strategirial change because that is exactly what made Sony strong.
Innovation and high-technology- electronic goods is the first thing that comes to customers minds of the products and company of Sony.
Sony is the leading manufacturer for information and technology globally. Sony believes that the power of technology can produce new ideas and vibrate the senses assisting to create different and new experiences.
Sony's attitude is to explore whatever can be done and develop new ideas. Sony continually challenges the boundaries and rules that surround the entertainment world.
Sony with this innovation created a multinational, multibillion electronic empires out of ashes in post war Japan. Rather than focusing on profit and loss statements, focus on new products and product volatility was the key objective of the company.
Sony Corporation the beginning
Headquartered in Tokyo, Japan Sony Corporation is a multinational merger corporation. Sony is one of the greatest media merger based in Minto Tokyo with earnings of $77. 2 billion (FY2010)
Sony recently changed its slogan from 'Like no other' to 'Make-Believe' that may differentiate it from its countless competitors and will also encourage the customers round the world to enclose all the Sony is.
Sony is probably the World Top 20 Semiconductor Sales Leaders
Sony Group the parent company and Sony the electronics business unit both run there business through five operating segments, they are:
Sony BMG Music,
Sony Financial Holdings,
Sony Pictures Entertainment,
Sony Corporation has an exclusive culture especially in relation to its two founders, Masaru Ibuka and Akio Morita which continues to be firmly rooted in the business.
In many different ways Sony is a normal Japanese company. With strong norms and values and loyalty to the business helps Sony to create Strategies.
In 1946 engineer Masaru Ibuka, and physicist Akio Morita, established Sony in Tokyo Tsuchin Kogyo. The name Sony derives from the Latin word 'Sonus' meaning sound and the English word 'Sonny-boy' - a term utilized by the Americans in the 1950's to denote a bright youngster. Ibuka and Morita realized that they needed a worldwide brand which crossed cultural and language borders.
In 1954, the business started out to make progress when it attained a license to produce transistors and made Japan's first transistor and the first all-transistor radio.
In 1955, the company listed stock on the Tokyo OTC market and in 1958, changed its name to Sony Corporation and was listed on the Tokyo STOCK MARKET.
In 1968 with the launch of Sony United Kingdom in London Sony's UK history began.
On four occasions in the 80s and 90s the prestigious Queens Award for Export was awarded to Sony.
Today Sony employees around 180, 500 people in functions like Sales, Marketing and Manufacturing.
The Roman letters were used for the first time by Sony to spell the business's name instead of kanji.
Two founders of Sony Interaction with employers
The logo through times The worlds first all- transistor Radio
Masaru Ibuka, one of the founders of Sony set a primary goal as his mission was the promotion of science education among everyone. He was persuaded that for the recovery of Japan after war the scientific literacy was significant and science education for the children was the solution. 13 years after Sony's establishment he established Sony Fund for the Promotion of Science Education in
1959 in the search of science education excellence.
Mission- Sony's mission is to develop a broad range of products and multimedia services that stimulate just how consumer's access and enjoy digital entertainment.
Sony is constantly aiming to create new exciting world of entertainment that may be viewed on different products.
Sony aims on collaboration between businesses within the organization.
Vision - It is the way that we do business. Our vision is our guiding force. We bring together the cutting edge products with latest services and generation content and create a thrilling digital entertainment for our customers.
Aims and Objectives
Being one of the leading consumers electronically firm Sony aims to have the most significant market share.
Sony aims, to contribute effectively to the environment and the dreams of future generations, through home based business initiatives and continuous technological innovation.
Sony Group top business priority is sustainable economic development by recognizing the most need for natural life-support systems.
All staff of Sony will be educated constantly about a wide variety of environmental issues.
In a joint quest Sony will cooperate with stakeholders to enhance the world in which we live.
By developing new and original technologies Sony aims to contribute to the improvement of environment.
Using its creative technological capacity Sony will introduce "Cradle-to-Cradle" design principle to all or any products and services.
Around the globe Sony offers a number of products in different products.
Bravia LCD TV
Home Theater Projector
Public Display Panel
Blue-ray Disc Player
DVD Portable Player
Home Audio Accessories
Walkman mp3 Series
Home Theatre system
DVD Home Theatre System
Home Theatre Component System
Digital Photo Frame
Hand cam video camera
Handcam HI-DEF Video Camera
Digital Photo Printer
VAIO Laptops and Computers
Play Station 2/3
PSP (Portable Playstation
Xplod CD Receiver
Storage and Recording media
USB Storage Media
Data Storage Media
Video Storage Media
Batteries and Charger
The key element of marketing program is Promotion and is situated on
communicating strategy of marketing efficiently and effectively to influence perceptions of target customers' satisfies the objectives of the client and the company and facilitates exchange between the customer and marketer.
The only means to establish awareness among publics are company's promotional efforts about their products and services, their features and influence and about themselves.
Sony advertises its product in many ways like TV, Newspaper, magazines, posters, TV programmes and recently through its outdoor advertising.
Sony uses some events to market its products.
Sony has advertised Play station through English Premiere League
Sony Marketing Mix
Each financial year Sony spends millions on promotion and advertising of the entire range of gadgets.
The major components of this promotion mix are:
SONY Place (Distribution)
Sony distributes its products through different channels.
Sony being the business with a reputation of durable and high end products is practicing Selective Distribution from selective dealers like Sony World.
There are some Grey-Markets in a few other countries where Intensive Market Coverage is practices. In these markets the merchandise do not have all the features and benefits like warranty and guarantee which Sony offers.
Sony in addition has reached its customers through the Internet and by going on their website you can get full information about its products.
JUMBO ELECTRONICS - THE BIGGEST SONY DISTRIBUTOR INSIDE THE UAE
There are two principals on which Sony Procurement is based:
To meet up with the expectations of the customer's worldwide Sony is likely to offer higher level of value because of its products and services and also through its businesses customers want Sony to be a good corporate citizen.
Sony's worldwide activities require smooth relationships with suppliers predicated on mutual cooperation and trust. Sony therefore lays focus on creating such relationships with suppliers.
Sony Environmental Contribution:
There are other ways in which the Sony's business will affect the environment. With the objective of realizing the Sony Group Environmental Vision, Sony is introducing different activities to diminish its environmental impact.
Sony Group Environmental Vision
Principals and philosophy for environmentally friendly activities throughout the world with the purpose of reorganization for a sustainable society represent the Vision of the Sony Group Environmental Vision.
Trough partnerships and communications with the inner and external stakeholders, Sony specifies targets and concrete plans and initiate actions to implement, to realize the Environmental Vision.
Sony has established its special set of environmental indicators to consider carefully the life cycles of the business activities of Sony Group. These indicators indicate quantitative measurements of environmentally friendly impact, by lowering numerical values which indicate lower levels of impact.
To ensure the accuracy of information associated with the activities, products and services of Sony Group's business on the whole life cycle Sony is introducing steps.
Greenhouse gas emission and resource use will be the two environmental indicators which Sony uses to determine this effect to its likely extent.
Green peace's Guide to Greener Electronics which evaluates 18 leading companies' policies on recycling, toxic chemicals and climate change ranked Sony 6th along with Panasonic and Motorola, in October 2010.
Many Sony models on the market are partially free of PVC and BFRs. The Company aims at removing PVC in all models of mobile phones and BFRs in the casing by April 2011. It still needs to set a period line for eliminating all these elements from its product to boost its ranking.
Environmental Conference held by Sony in 1976 takes notice of its policies effect on the environment and on global warming. They introduced the steps in a process called 'Green Procurement' where they decrease the amount of greenhouse gases emission and also regulate the merchandise which they obtain their suppliers.
Sony signed to have 75% with their buildings running on geothermal power.
In U. S they introduced 'Sony Get back Recycling Program' aimed at recycling the electronic products purchased by Sony customers to 'eCycle' drop off point.
Sony introduced the most powerful biobattery that utilizes sugar and carbohydrates like living creatures to work. And to date its the tiniest one.
On 30 July 2008 Sony introduced new flat panel 32 inch TV which consumes 70% less energy than regular models. Sony was able to reduce its carbon dioxide emission following this green product.
Facts and Figures
PEST Analysis of Sony
Another marketing tool is PEST Analysis used to monitor the external influences on business which can be:
The way Sony operates can be directly influenced by the political factors. The energy to change policies and legislation is held by the federal government and this can affect Sony. The laws which affect Sony will also affect its competitors. Government may change or increase trading restriction internationally, minimum wage, tax, VAT etc. Sony must keep an eye on all these factors such that it is prepared for any major global change.
As the planet is facing recession and market meltdown, the economy growth has shrunk. Because of this the interest and exchange rates may change. If the interest and exchange rates change in various countries Sony being an International Company must evaluate what prices their products are being sold and whether it would be worth it.
Sony must stay prior to the modern technology as they have gained a reputation because of its quality product and the assistance they provide. To remain alive in this competion Sony has to create revolutionary equipments and ideas for people.
The technological factors are extremely important for any company including SONY to increase productivity and also to stay ahead of the competitors. Using customer information, conducting general market trends and the utilization of new technology will help Sony to generate services.
SWOT Analysis of Sony
SWOT analysis are helpful in identifying both External and Internal factors for Sony to know their current business standing, it'll give Sony incentive to work toward reaching their goals and objectives.
Picture from Google images
Sony's ability to create quality, progressive products. Sony's webpage writes 'Sony innovation have become part of mainstream culture'.
The 'never copy other' culture is the foundation of Sony's progressive style.
Sony is very successful in several different markets.
Sony's engineers are its greatest asset. They are able to work and produce better after learning from the past experiences.
Sony is very competitive towards other companies.
In the start of 80s the sale has slowed up considerably e. g. PS3 which lacks the innovation.
Lack of general direction in the business is due to a succession problem.
Development and research are run by small teams and secret projects and reports are submitted without the data of the management which ultimately shows insufficient understanding and communication between R&D and management.
R&D department which consists of Engineers are Sony greatest asset and their regular innovation is essential for a consumer electronic firm.
Sony gets knowledge of the neighborhood market by Subsidiaries which are well toned, as in america and Europe. Sony has become an International Corporation by combining the strategies and the talents of both worlds to the organization.
To give greater outlook to all or any the fields of the business and create employee satisfaction the business runs self promoting and job rotating system. Preferably, this might bring about production of better and new products as marketing people gives their ideas while working in production and the engineers will gain knowledge on consumer needs.
Sony with the enough technology increase width by entering into high technology business field which creates an chance to dominate the field and setup standards.
Sony has the chance to employ Asian countries for markets and then for cheap labour.
In order to attract new customers the marketing department has introduced latest advertising techniques.
Due to diminishing margins for the technology advancement other electronic companies can duplicate Sony's technology easily, in short time and offer more competitive prices.
Sony being truly a leader in technology is looking for new markets where well-established and bigger companies aren't always a threat but this brings about the problem of cooperation where Sony is definitely creating markets alone. Sony can no longer just produce high quality machines and expect them to market. It could be profitable to other companies and also to Sony that if they cooperate instead of competing for the same systems.
Sony lacks strategy any formal permanent direction however the rest of the departments like marketing, product development and manufacturing are well established. Short term strategy is also lacking with little stress on profit, research and development of products. Sony needs to renew its original mission statement which is outdated using its references to W. W. II.
The result: a corporation unable to coordinate in a coherent way in order to accomplish maximum potential but with strong components.
SONY not only does represent a variety of businesses, but remains globally unique.
In aggressively carrying out their convergence strategy Sony aims to fully leverage this uniqueness so that SONY can continue steadily to excite and emotionally touch their customers.
Sony has priced its products too expensively with regards to the quality and the services they offer. But it surely does not meet up with the requirements of the lower class customers who cannot afford their products. Sony has always targeted its market mainly to urban customers. Sony must consider lowering the prices of its product line to attract a big number of customers in developing rural areas. Implementation of this policy will help Sony to utilize a huge reserve of potential users.
Sony has expanded its products and services to television set broadcasting and entertainments like music, movie production and distribution
from electronic and digital devices
With high quality and wide selection of products and services Sony has influenced almost all of its customer's perception favorably towards its products. From the time of its establishment, Sony product quality is enhancing each year. Company suffered losses in millions to provide service quality product if any of its product fails. Sony as a business always accepts and rectifies its mistakes.
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