Sony Corporation’s full name is Sonī Kabushiki Gaisha, commonly referred to as Sony, is a Japanese multinational conglomerate corporation headquartered in Kōnan Minato, Tokyo, Japan. Its diversified business is primarily focused on the electronics, game, entertainment and financial services sectors. The company is one of the leading manufacturers of electronic products for the consumer and professional markets. Sony is ranked 87th on the 2012 list of Fortune Global 500. Sony Corporation is the electronics business unit and the parent company of the Sony Group, which is engaged in business through its four operating segments – Electronics (including video games, network services and medical business), motion pictures, music and financial services. These make Sony one of the most comprehensive entertainment companies in the world. Sony's principal business operations include Sony Corporation (Sony Electronics in the U.S.), Sony Pictures Entertainment, Sony Computer Entertainment, Sony Music Entertainment, Sony Mobile Communications (formerly Sony Ericsson), and Sony Financial. Sony is among the Worldwide Top 20 Semiconductor Sales Leaders and third-largest television manufacturer in the world, after Samsung Electronics and LG Electronics.
The founder of Sony is Akio Morita and Masaru Ibuka. They have their companies based all around the world. They made a net income of 458million this year. This is a miniscule amount compared to what they usually make being of a major loss they have recently suffered and are still trying to recover from. Usually their net income goes up into the billions of dollars. Therefore, to expedite this process, I have decided to make a marketing strategy for this company.
Sony makes various amount of products, so their products should be marketed in various different ways. First of all, cable TV is a efficient way of advertising. They could market almost everything from TV sets to phones and the services that they provide. They are a very reputable company that has suffered a great loss over the last few years in their television series, which is what they need the most help with now. Samsung had been producing the latest chips that are placed into TVs and Sony had been purchasing them to as a second dealer. Samsung being the original creator of these chips, can place them into their TVs for a cheaper rate. Sony, on the other hand, have to raise the price of their products and could not compete with the low costs. Thus, Samsung have outwitted them and taken them entirely out of the competition for that year. Now Sony must make a comeback with newer technology and better graphic cards to compete with the ever increasing market. Sony should market their products to people with substancial financial standing, they have maintained a consistent quality amongst their products which raises their standards to above average. People looking for quality over everything will find their products to be perfect. Sony made various mistakes within the last decade of buying hardware when they were suppose to create their own and not keeping their software up to date. This corporation has gotten uncreative and lazy as the new generation took over the corporation. The best option for this company would be to change the creative director, lower the costs and update their software in order to be able to compete with the current market again.
The internet would be an ideal place for advertising electronic media as it is cheap and provides features like price comparisons and the latest updates. Sony Erikson phones are doing well in the market, having adopted the Android operating system, therefore they do not need much market strategy to promote their products in that department. The television series rely on a long term loyal customer base, that maybe do not know the inside information and could make their decision just by choice. Customers that are looking...
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