The very first thing that comes to peoples heads of the company and products of Sony is its high-technology-filled-with-gadgets digital goods and advancement. It was also this development that make Sony the best company that started in post-war Japan. The Sony name was made by combining "SONUS, " the original Latin for "SONIC, " indicating sound, with "SONNY, " denoting small size, or a more youthful boy. It had been chosen for its simple pronunciation that is the same in any language. Sony, well known because of their huge type of gadgets, also produces personal computers, notebooks, and multimedia system peripherals. Sony is a worldwide manufacturer of audio tracks, video, marketing communications and it products for consumer and professional marketplaces.
Their VAIO type of computers is on the forefront of computer technology and visual design. The sony company was founded in Tokyo in 1946, the founder of sony is Maasaru Ibuka and physicist akio morita spent the eqivaqlent of yen 190, 000 to begin a firm with just 20 employes. The rest history.
Behind the remarkable success of Sony are two men. Masaru Ibuka was an engineer and Akio Morita a physicist when they made a decision to generate a company mending and building electro-mechanical equipment. ON, MAY 7, 1946, Tokyo Tsushin Kogyo K. K. (Tokyo Telecommunications Executive Corporation), also called Totsuko, was founded in Tokyo. The brand new company acquired no equipment and little scientific equipment. Possessing only their own intelligence and engineering expertise, Ibuka and Morita go about to build new marketplaces.
VISION AND Objective ON THE COMPONY
Our perspective: - to build interesting new digital entertainment experience for consumers by bringing together cutting along cutting-edge products with latest technology context and services.
Our objective: - Sony is committed to developing a variety of progressive products and multimedia services that task the way consimers access and revel in digital entertainment. By ensuring synergy between businesses with the business, sony is continually striving to make exiciting new worlds of entertainment that may be experienced on a number of different products.
MARKETING OBJECTIVE OF THIS COMPANY
Time to time various techniques of marketing are being employed by the business and the main objective of all marketing activities being undertaken by the business is to understand more and more MARKET-SHARE in all range of products in which company is dealing. So, the main purpose of company behind all the marketing activities could be termed as control in market show. The business also wants to set-up BRAND AWARENESS and BRAND Acceptance in the imagination. Of the clients and moreover its success overseas and creating CUSTOMER SATISFACTION by causing them alert to the distinct. Top features of all the merchandise. A key focus for Sony is to improve its all-important electronics business and keep maintaining market leadership in visible areas such as tv set, digital imaging, home video equipment and portable audio.
- Trends: - As the scenario of today's environment the demand of ac units is rises because of hot weather. in summer months and people will not like to reside in warm weather and every one purchased the ac units for making their life easy and comfortable to stay in summer. It makes the life of folks comfortable to reside in summer. Now air conditioners become very helpful can purchased by every person whether he is from upper category or middle income and today the demand of air conditioners are constantly increasing. So if company launches a air conditioner under its already existing brand there are great prospects. For the company to increase in this portion also.
- Competitors: - As the today's market is filled with competition. if the company will launch a fresh air conditioners in the market it has to handle a great competition from the already existing market market leaders which are VOLTAS, SAMSUNG, LG etc.
All these brands already are enjoying major market show in this particular industry and when the company desires to take a few of the market share it's important that company should take some additional steps to attract the customers towards its products.
- The product should contain some additional features than already Existing products in the market.
- The price should be fine-tuned in line with the competitor's price.
- The marketing strategies being followed by the rival should be studied care off.
- Some activities should be taken to divert the customer's attention from Competitor's product to our product.
Customer profile: - we offer the full selection of services regarding air-conditioning and other product such as mobiles, LCD'S, kitchen appliances etc
Design, estimate and project control installations of new AC and process cooling down equipment.
From solo splits up to large air handling place with normal water chillers.
Best customer satisfaction and customer support.
Technology: - The technology required for the production of the new product also needs to be taken under consideration as it is difficult to start a new product because there are already many brands on the market, professionals committee should be set up who shall discuss on the matters regarding costs to be incurred on installing new machinery, need for recruiting new skilled labour, the entire total cost of producing the merchandise. After analysing all these factors the company came to learn that if it going for the manufacture entire of the product, it will involve huge expenditure and will then increase the cost of the product. So, so that it has been decided by the business to create some parts of its and take some already made parts from the outside vendors and then assemble all the parts to help make the done product.
SWOT ANALYSIS means the evaluation of the inner and external environment where company operate. And by this we get full knowledge about our company's position in the market.
Strengths of the company
- Strong research and development: - sony consumer electronics is strongly commited to investing in reseach and development(R&D) and design to generate products with the most highly valued technology and style.
- Leading technology: - Sony us one of the pioneers in home-networked and internet-enabled gadgets, and has enjoyed a respected role in the introduction of technology requirements for next technology home networking products.
- Production of prime products: - the business moved itself from a manufacturer of cheap kitchen appliances and private label products to one of the world's leading high quality electronics brands renowned for its leading edge technology. Superior products continue to be one of the fastest growing areas for sony electronics. It concentrate on a consumer and delivering products that are impressive and stylish.
Weakness of the company
- HIGH Expenses ON RESEARCH AND DEVELOPMENT must be achieved.
- As the start of the new product also requires HUGE CAPITAL REQUIREMENTS
Oppturtunity of the company
- To launch a new product under the already existing brand which help
- The customers to REMEMBER OR ADHERE TO PARTICULULAR BRAND even for different products.
- As Sony is the popular brand for the customer in the market so there exists again a fresh oppturtunity for the business in the market to increase their brand image by giving the new products with impressive and stylish designs to the customer.
- It has the oppturtunity to capitalize large market tell innovative products.
Threats of the company
- COMPETITORS are one of the major danger for the company, as Sony company has recently has many competitor like LG, Samsung, Voltas etc. which can be found in the market from a long time.
- There is a threat of duplication of resources among the tiny groupings through research and development. So Products shouldn't be duplicated by the marketplace experts.
- One of the risk for the business is the fact if the product doesn't succeed in the marketplace then it could pause a great BURDEN OF DEBTS for the business.
Product can be an thing or service a man produced or make on a large scale or maker with a specific volume of device the marketing combine also encompassed how the product developed, the entire performance of the product\service &the design &framework of the Product.
As the business has made a decision to launch a new product (air conditioners) under. The already existing brand SONY because it has been regarded as an area where the company sees high growth potential clients.
- You see them on some admirers, but with an air conditioning equipment there can be an internal electric motor to get the job done. Oscillating vents sweep the cool air in one side of the room to the other, thus cooling better.
- Ventilation/exhaust. Prevents that horrible, stuffy feel to room where air conditioning has been on all day long, by allowing in fresh air from outdoors.
- Remote temps control just got comfy on the sofa and then decides you are not quite cool enough? Don't move; just have that remote within reach.
- Energy-saver switch. Change the enthusiasts off at exactly the same time as the compressor for a greater saving on energy.
- A few models can dehumidify without cooling down. This feature pays to on humid but cool days and nights in spring and fall season.
- It provides ventilation without air conditioning.
- An air conditioner with a timer can be turned off when you're out and set to turn on just before you anticipate to get home. An energy-saver setting up stops the lover when the compressor is off. These features save energy.
TARGET MARKET AND Costing STRATEGY
The company is targetting the of upper class individuals who have high income and also the middle income people as it's been specially designed with multiple features like Universal remote heat range control, Energy-saver change, Oscillating vents which fulfill the needs of the customers it is becoming this important area of the summer. Early when the ac units is release in the Indian market on that time air conditioners is merely purchased by wealthy people it is the indication of richness but today everyone purchased according with their need, income earn by folks r the which suit them. There is Air-conditioned movie theaters, restaurants, and businesses, which is responsible for creating cool comfort to there customer. It will provide the durable and reliable product to the client. All the products, of the business, are durable enough and customer will keep on using them for quite a long time with no problem.
Whereas, Sony's purpose is to provide top notch product to higher class and top middle class to enjoy real luxury in their life. Since it has very advanced features, which are usually demanded by in developed countries.
SONY also insures that whatever product they market should be durable enough which last quite many years and give trouble free service to their customers.
so we can say that the business is targetting the upper class, upper middle income, and middle class of the client and also the in line with the income which is earn by the client in the market.
PRICING STRATEGY FOLLOWED BY THE COMPANY
The company has introduction the latest models of of ac units including various features and also some research need to be done before the product is launched, specific staff must be recruited which would increase the product cost but the company plans to buy the raw materials in volume so that special discounts can be availed and High cost included parts from the other small sellers in the market and Assemble them to make the last product. As the product is having numerous kinds additional features than that of competitor's product so it has been chosen that the product must have the high price as compared to the competitor's product but it should be reasonable in line with the quality of the merchandise. So From the price list and dialogue with the management, it would appear that they position their product charges in such a way that their main concentrate is middle and upper middle class. However, they involve some decided on range for upper class as well.
The company gets the coverage that their all product price should be the same in every places and town in market. Sony freight cost and make their product available to their dealers regardless of where they are located. For this, they give uniform margin to their dealers irrespective of whether he is big or small. Sony consider rates as one of the important component of marketing mix. . In order to maintain a standard price all over the country, company bear transportation charges and make the product available at cost price at seller premises.
Whereas the SONY charges strategy is cost + set mark up to protect their GP. Since they cater to higher middle and upper class, therefore their 90% dealers are in big cities only. Product-wise price list enclosed in appendix for research. SONY follows costing policy in which their normal method is transfer cost + realistic gross profit to repay their marketing expenses and also provide them with reasonable revenue.
DISTRIBUTION OF THEPRODUCTS
As the Company is going to launch the air conditioner under its already existing Brand so, it's been determined that the circulation chain being utilized by the Company for the T. V under this brand should be the same one for the air conditioners also.
In order to provide quick and timely delivery with their dealers: they have got big warehouses situated in virtually all big places and towns. Every time they get order from the supplier they try to provide supplies to their dealer from closest warehouse. In case stock is unavailable in the warehouse then it is shipped straight from other Manufacturing plant.
They has retailers generally in big cities plus some in small cities. There is also got a policy that retail price from coast to coast should be uniformed for the customers, whether he/she buy from any where.
They also endure transportation cost and thus provide resources at homogeneous rate to their dealers. They have three big warehouses and from these warehouses they supply their product with their dealers and thus they make their product available to them.
PROMATION ON THE PRODUCT
As much as Advertising strategy of SONY can be involved, it is being planned and performed by SONY, Korea through their Pakistan Office keeping in view their global way and theme brand. Local Agent of SONY simply offers advice and coordinate in its implementation. Since SONY is a multi-national brand, their spending on advertising is so that their all product get advertised. Although for different product they have got different agent And since been decided to develop a verbal advertisement, that ought to be displayed on some highly viewed TV channels and Mr. shahrukh khan has been decided on the brand ambassador for the merchandise. And by advertise in some leading newspapers. Because of being truly a multi-national company and as a part of their global Strategy they, almost all of enough time, divert their money from strong market and spend more on weak or under developed market segments.
Sony is a multinational company and has got different agents in some of the top locations of India. AS, looking toward the success of product on the market. The product enjoys good market stocks both because of the reputation of the business or the brand in the market, high rate of the brand's devoted customer and customer strong believe and more importantly we think we have become able to satisfy the clients needs by providing them good of quality of products at different price list and customer can pick the product regarding to their need and income they earn, it is increase coming at par with the product of the competitor's as shown by the sales record and the business can expand in this section also by launching this practically product. And it the success of product is based on the marketing strategies as well as the regulations of the Government and progressive and stylish design.
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