Introduction:
Sony Corporation is a multinational conglomerate corporation headquartered in Tokyo , Japan , and one of the world's largest media conglomerate with revenue of US$88.7 billion (as of 2008) based in Minato, Tokyo
Its name is derived from Sonus, the Greek goddess of sound. Sony Corporation is the electronics business unit and the parent company of the Sony Group, which is engaged in business through its five operating segments—electronics, games, entertainment (motion pictures and music), financial services and other. 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.
The first market mix element is Product. A product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a need or want. Product decision normally base on brand name, Functionality, Styling, Quality, Safety, Packaging, Repairs and Support, Warranty, accessories and Services. These product attributes can be manipulated depending on what the target market wants. Also, customers always look for new and improved things, which is why marketers should improve existing products, develop new ones, and discontinue old ones that are no longer needed or wanted by the customer. Sony has a variety of products ranging from electronic devices, games and entertainment. So, briefly Sony products can be categorized in the following major product categories:
I.Television and Projectors.
ii. Home video.
iii. Home Audio.
iv. Home Theatre system.
v. Digital Photography.
vi. Hand cam video camera.
vii. Computer Peripheral.
viii. Portable Audio.
ix. Game.
x. In-Car entertainment.
xi. Mobile phones.
xii. Storage and Recording media.
Xiii. Batteries and Charger.
xiv. Other Accessories.
Prices:
Pricing decisions are almost always made in consultation with marketingmanagement. Price is the only marketing mix variable that can be altered quickly.Price variables such as dealer price, retail price, discounts, allowances, creditterms etc. influence the development of marketing strategy, as price is a major factor that influences the assessment of value obtained by customers.
Customers directly relate price to quality, particularly in case of productsthat are ego intensive of technology based. Sony being a company whichemphasize product quality, it tends to sell its products with price range frommoderately-high to high-prices, depending on the use and the targetedcustomers.
For example, Lets consider Sony series of VAIO laptops. Sony has tried tocategorize the laptops according to style, user, purpose, mobility andperformance, and each a corresponding price.
The laptops sold by Sony in India
VAIO SR, boast on the excellence in mobility and perfection in performance. This laptop was designed for businessmen and its price is around Rs. 75,000/-
VAIO FW, boast of theatrical experience and world class performance. Thismodel was designed mainly for home user or casual user of laptops who aims onmedia playback. The price of it is around Rs. 80,000 and Rs.1,25,000.
VAIO CR, boast on style and texture. Depending on the configuration, theprices are from Rs. 40,000 to Rs. 65,000..
VAIO NR, boast of natural, chic design. It was designed to meet customers ambiance and lifestyle. For this reason the Sony corporation has decided the price of the laptop to be Rs. 40,000 and Rs. 50,000 depending on the configuration.
VAIO TZ, boast of elite lifestyle, and high class performance. The laptop was designed purposely for business as it is light weight, high processing speed, and flash memory storage and longer backup power. For all this facts Sony has priced it to be between Rs. 1,15,000 and Rs. 1,40,000.
VAIO SZ, boast of premier mobility and executive excellence. This laptop was developed by Sony to target executives and business people who are mobile. The laptop is fitted with hybrid hard disk drive and motion eye camera and Bluetooth compatible headset with applications for increasing mobility and video conferencing. It’s price is about Rs.1,24,000.
Questions:
1- List down the technological Advancement in the consumer electronic products during recent years, Was sony able to bring new technology in their products.
2- What must be the Marketing Mix of Sony to cope with the challenges thrown by the competitors like: Samsung, LG, Phillips etc.
