Sony Corporation Essay Example | Topics and Well Written Essays - 1750 words

Sony Corporation - Essay Example It manufactures CCD, LCD and other semiconductors as well. The electronic components that it makes are optical pickups, batteries, audio/video/data recording media, and data recording systems (SONY CORP, 2012). Two people, Masaru Ibuka and Akio Morita started the Tokyo Tsushin Kenkyujo or Tokyo Telecommunications Research Institute in 1946 and the main aim of this company was to research and develop new products in their efforts to always bring something new to the customer’s plate and create value for the customer. The company tried to balance innovation with the consumer benefit and convenience because customer satisfaction was its top priority. With its success and expansion the title Sony Corporation came into being in 1958 and has been there since then. The word Sony was a coined by combining two Latin words, sound and sonny. Sonus signifies sound or something that is sonic while sonny means son. Sony is a short word which has the advantage of quick recall and can also be read in any language and is a sign of freedom and open-mindedness. The variety of high quality products that SONY offers makes it one of the market leaders of digital entertainment (Louwel, 2011). It is a company that banks upon the opportunities provided by innovation and new technology. It is a company that is characterized by a forward mentality and a desire to lead and be the first one to introduce something new to the customer. The competitive products and services offered by Sony give it a lasting edge over its competitors. The factors that account for Sony’s growth and success are its strategic thinking, talented people and e-commerce (Louwel, 2011). Sony operates globally in 204 countries in three continents North America, Europe and Asia. Because of its quality and innovation, SONY has achieved brand awareness and recognition over the years. Sony’s sales in 2008 were $88.7 billion and 180,500 people worked under the umbrella of Sony Corp. In the wake of the 2 008-09 economic crunch Sony experienced falling sales, 16000 jobs were lost and 6 production bases were discontinued. The prices of its raw materials and parts also increased due to which it became very difficult for SONY to maintain competitive prices (Giusti, 2009). Methodology Sony’s innovation is not restricted to its products and services only. It has also changed the way that marketing is done globally by international companies. It gives a very participative environment to employees so that they experiment and come up with new ideas, the rich corporate culture provides employees an opportunity to stay focused, and the marketing approaches adopted by the top management have helped the overall organization. The product designers are given the leverage to come up with new products that they think are fit to keep up the good name of the Sony Corporation. There is a lot of cohesion and coordination in the organization. This democratic management style has enabled the compan y to introduce premium, unique and futuristic products and this coupled with the corporate culture at Sony, gives it a sustainable competitive advantage over its competitors. Sony has not restricted itself to one marketing approach only as it is a progressive organization and has been changing its