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Sony Television Business
Sony Cooperation is an international organization providing electronic products in many countries of the world. Sony manufactures and sales variety of electronics ranging from radios, cookers, to televisions and DVD players. It is a Japanese multinational product provider, with headquarters located in Tokyo and Minato, Japan. This company has been laying down strategies to operate in order to expand the market. It manufactures products in different brands in order to attract customers of a different class. For the company to expand the market, it should consider changing some marketing strategies and operation procedures. The company has many competitors who work with prominent strategies. Some of the competitors include Samsung, Erickson, Gateway and other Chinese companies. For Sony to win the competition, it should lay down strategies that differ from those used by competitors.
Among the products manufactured and sold by Sony are televisions of different brands. The brands are sold at different prices in order to capture customers of a different class. The new 4K UHD TV brand is sold at a price of $ 4, 999, PS3, also known as Vita, is sold at a price of $ 649. Other brands include Blu-ray player and 3D glasses, HDTV, and X-Reality PRO among others. A lot of measures have been taken in order to improve the television business before the end of March 31, 2014, fiscal year.
The first strategy was laid down in November 2009, aiming at attaining a 220 % market share or getting a total of 40 million unit sales in the year ending on March 31st, 2013. The strategy was based on the directors’ expectations that the sales of LCD TV could continue to rise. Economic deterioration in the developing countries has led to declining of the strategy since individuals in those countries prefer purchasing basic needs instead of luxury products. In the transformation of the business in order to capture sales of 20 million units per year, the company needs to add 50 billion yen to fund the project. The company has to reduce the variable costs for the television business to grow. In order to achieve the objectives of expanding and gaining more profit, Sony should reduce the LCD’s panel costs and enhance the competitiveness of products, while reforming operations in order to improve margin profit.
Sony should consider many factors in order to develop the television business in each country. The company should manufacture and supply the products in respect of social status, financial status, political stability and economic growth of the aimed country. The company should introduce new systems in areas of supply chain management. This will work with the aim of reducing inventory’s turnover by 11 days in the fiscal year 2013. In the differentiation of the product, it should apply unique technology, like the high-quality image engines super solution, and increase the manufacturing of the next generation televisions. The company should also use internet marketing like social media since the world is changing to digital. Sony should also brand the television and create logo awareness to the customers to avoid copyright problem since some companies have branded their products almost similar to Sony like Sanyo.
The company should also change its marketing strategies since the world has changed and advancement in technology makes each company succeed. Sony should also consider digitizing market operations in order to win over the competitive market. It should create a domain in which people can shop online and have their products shipped to the local areas. They should also market the products aggressively using online tools like Social Media and commercial websites. Sony should consider employing professionals who will know how to handle the business and treat customers in the right way.
In conclusion, every business faces challenges and competition just like Sony is facing in the television business. Sony should cope with the challenges and follow up on the recommendations stated above in order to succeed and win the competition. The company should also employ professionals to manage and manufacture the products.