Sony, is a Japanese multinational conglomerate corporation headquartered in Minato, Tokyo, Japan. Sony is one of the leading manufacturers of electronics, products for the consumer and professional markets. its founders Akio Morita and Masaru Ibuka derived the name from sonus, the Latin word for sound, and also from the English slang word “sonny”, since they considered themselves to be “sonny boys”. In late 1945, after the end of World War II, Masaru Ibuka started a radio repair shop in a bomb-damaged department store building in Nihonbashi of Tokyo.
The next year, he was joined by his colleague, Akio Morita, and they founded a company called Tokyo Tsushin Kogyo K. K. ,(Tokyo Telecommunications Engineering Corporation). The company built Japan’s first tape recorder called the Type-G. • Ownership Its founders are Akio Morita and Masaru Ibuka, and current chairman, CEO is Howard Stringer. Since June 2005, he has been chairman and CEO of Sony overseeing the entire businesses of Sony, including its media and electronics subsidiaries such as the Sony Computer Entertainment, Sony Music Entertainment, Sony Electronics, Sony Pictures Entertainment and Sony Financial Holdings.
Revenue of sony for year 2009 – 2010 $77. 205 billion. • target customer profile The target customers include the middle class, above middle class and upper middle class as it includes all wide variety of products each in various segments. • product-related attributes the core brand attributes of Sony make it credible and acceptable for Sony to extend the Sony brand into laptops and digital cameras however they are not credible and acceptable to extend the Sony brand into sports clothing. • brand elements
Sony’s brand values are deeply rooted in its spirit of innovation, its proud history and the confidence of its customers. It is undoubtedly one of the most recognised brand names in the world. And Sony continues to raise the bar in terms of quality and consumer needs – and global and regional communications. • communication ? Advertising ? Sales promotions ? Event sponsorships • Branding strategy Sony is the kind of company that constantly launches so many great products that engineers and designers for competing companies must get little rest at night.
The Sony is primarily focused on the Electronics (such as IT products ; components) and Game (such as PlayStation) and Entertainment (such as motion pictures and music). • brand portfolio/ product Television ; Projectors Batteries ; Chargers Home video Other Accessories Home audio Home Theatre System Digital Photography Hand cam video camera Computer Peripheral Portable Audio Game In-car Entertainment Mobile phones Storage ; recording media • Promotion Promotion is a key element of a marketing program.
Sony’s promotional efforts are the only controllable means to create awareness among public about itself, the products & services it offers, their features & influence their attitude favorably. Sony India will spend Rs 200 crore in this financial year on advertising & promotion of the entire range of consumer electronics, out of which Rs 60 crore will we spent only on digital imaging products. The major elements used by Sony for promotion mix includes advertising, personal selling, sales promotion, direct marketing & publicity. CURRENT MARKETING STRATEGY: The continuous Youth Marketing Strategy aimed at capturing young consumers & enhancing an innovative brand image will also be employed through product groups, incorporating a series of out-of-box marketing campaigns to convey a unique lifestyle to consumers such as the Lets Color Strategy under which Sony makes its colour products available in all colour product groups, ranging from Bravia, Cyber shot cameras, to Walkman & VAIO laptops.
The official partnership with the 2010 FIFA World Cup Football Competition in South Africa. Sony has advertisied through various forms of media: 1. Through TV we see different advertisements of its products. For ex: Bravia TV or Sony wega TV. 2. It targets those favorable television programs, like sports, series & it also has its own TV channel called Sony TV Channel. 3. Sony uses some events like Miss India 2008 to promote its products 4. It advertises its laptops using sports like football in England Premiere League. . Sony also uses direct-response advertising, thus encouraging the consumer to respond by providing feedback to the advertiser. This is usually done through mails & catalogues. 6. It also incorporates co-operative advetising by providing the dealers with materials guidelines to develop ads for print & radio commercials. Place and distribution Sony being the company which positions itself as a seller of durable & high-end products, it is practicing selective distribution of its products from the selective dealers i. . SONY WORLD. Pricing Pricing decisions are always made in consultation with the marketing management. Price is the only marketing mix that can be altered quickly. Price variables such as dealer price, retail price, discounts, allowances, etc influence the development of marketing strategy, as price is a major factor that influences the assessment of value obtained by customers. For Sony series of various products, Sony has tried to categorize them according to style, user, purpose, mobility& performance
SWOT Analysis for Sony Corporation |Strengths |Weaknesses | |Sony able to create high quality products for its customers. |Within the last few years Sony has been making a loss with a few of its | |History of products shows that the business is very reputable. |products. | |Engineers have learnt from the past failures and so they can produce and|Sales of all products are seemingly starting to slow down. |work better |The company has no sense of direction and is not being managed properly. | |The company is very competitive towards other companies. | | |Sony is able to expand its markets and work to produce various products. |The functional departments within the organisation are not communicating| | |with one another and so productivity has decreased. |Opportunities |Threats | |The engineering department has increased in size and so therefore are |Sony Corporation has competitors which are more powerful, such as | |working harder. |Microsoft. | |Sony is known not to copy any of its competitors and so more reputation |
Recent reports show that most of their products are forged and sold as | |is gained |fakes, which means that some of Sony’s reputation is decreased. |The marketing department has increased advertising techniques in order |Sony also lacks the direction of strategy which means its competitors | |to attract new customers |could be doing better. | |Sony is trying to sell their high quality products cheaper to attract |Competitors achieving most of Sony’s customers due to the fact that | |customers |their products are achieving various market types. | |Sony Corporation may decide to expand more overseas. | Conclusion The current marketing mix which Sony Corporation has is satisfactory to customer needs. As it can be clearly seen that Sony as a company has expanded its products & services from electronic and digital devices to television broadcasting & entertainments like music & movie production. In providing a wide range of products & services with high quality, Sony has by far influenced most of the consumers perception favourably towards its products. of sony