BRAND MANAGEMENT INDIVIDUAL ASSIGNMENT

BRAND STRATEGY OF SONY BRAVIA

Feel the BeautyBE MOVED

Submitted to Prof. Rajeev Kamble Area Chairperson Marketing

Submitted by: Arpita Mukherjee Roll No: 2012063

COMPANY PROFILE: Sony Corporation commonly referred to as Sony, is a Japanese multinational conglomerate corporation headquartered in Knan 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 found its beginning in the wake of World War II. In 1946, Masaru Ibuka started an electronics shop in a bomb-damaged department store building in Tokyo. The company had $530 in capital and a total of eight employees. The next year, he was joined by his colleague, Akio Morita, and they founded a company called Tokyo Tsushin Kogyo (Tokyo Telecommunications Engineering Corporation). The company built Japan's first tape recorder, called the Type-G. In 1958 the company name was changed to Sony being inspired by the word sonus meaning sound in Latin and a slang English word sonny which connotes smart and presentable young men in Japanese.

PRODUCT PROFILE: SONY BRAVIA Sony launched its brand-new BRAVIA* range of high-resolution, slim-profile LCD televisions to cut through the competition of flat panel TVs. The first model being KDL-V40XBR1 with the value proposition colour like no other BRAVIA is an in-house brand owned by Sony which produces high-definition LCD televisions, projection TVs and front projectors, home cinemas and the "BRAVIA Home Theatre" range for its parent company Sony KK. The name is an acronym of "Best Resolution Audio Visual Integrated Architecture". All Sony high-definition flat-panel LCD televisions in North America have carried the logo for BRAVIA since 2005. BRAVIA replaces the "LCD WEGA" which Sony used for their LCD TVs until summer 2005 In developing BRAVIA, Sony brought together its most advanced design, manufacturing and sales capabilities, incorporated newly developed Sony Panels and other technologies for outstanding image quality and devised a high impact advertising programme with 250,000 super bouncy balls. Later it came with the paint advert and the Pyramid advert attracting different parts of the world As of 2012, Sony's television business has been unprofitable for eight years.

CURRENT MARKET SITUATION Sony enjoys a cult status in India and is conceived as a super-premium brand with relatively higher pricing than competitors like LG and Samsung. It is this price positioning which has made the brand aspirational to consumers down the ages, right from transistor radio, Trinitron TV, Walkman, music systems or PlayStation. According to market research firm Display Search, Sony is well positioned in the Indian TV market with the strongest brand image and highest number of brand shops which acts to reassure consumers that the brand is doing well. CURRENT MARKET POSITION SONY registered a phenomenal sale of 13.5 million BRAVIA Television sets in FY 2012 and is expecting a 19% hike in its sale in FY 2013 which would be around 16 million. Sony is expecting a profit of US$ 492.15 million in FY 2013, 16% more than FY 2012. MARKETING STRATEGY: Sonys marketing strategy is based on Societal Marketing Concept i.e determining customer needs and satisfying the business's goals, but also integrates social responsibility into the business. Approach of Sony towards the concept was the introduction of microtubular HCFL and other ECO features. BRAND PERSONALITY: LOGO: Bold yet elegant and stylish BRAND NAME written in Red depicts the passion and elegance attached to it VALUE PROPOSITION: Bravia when launched came up with the value proposition of colour like.no.other which they changed to The Rebirth. LED TV and in 2013 it was changed to Feel the Beauty Be Moved COMPETITORS SAMSUNG has been very aggressive with its 3D campaign as it has positioned itself as the worlds rst LED 3DTV. They have launched a major media campaign that depicts the hardware as if it were a work of art, providing an immersive 3D experience that brings people together and enriches their lives. LGs 3DTV uses Passive 3D technology, which requires signicantly cheaper 3D glasses than Active 3D technology that is being utilized by everyone else. This gives them the advantage to attract consumers of low budget who have the desire of owning a 3D TV. PANASONIC uses Plasma technology for its choice for delivering 3D. They claim that Plasma TVs delivers a better 3D experience. Panasonic claims to be eco-friendly and has incorporated ECONAVI technology and Mercury and Lead free panels. However all the competitors of Sony are behind its new X9000 series with an immersive screen of 213.5cms (84inch) and the technology of 4K XReality-Pro that contains no less than 8 million pixels (3840 x2160). The newly-developed XCA8-4K chip upscale HD (or lower resolution) images by analysing and refining images from all sources.

TARGETING CUSTOMERS Ideal customer for Sony lies in the age group of 25-35 years who possess the zeal to spend for the best, to watch lms, surf internet and play games. They are technologically savvy, has disposable income and consider themselves as an innovator when it comes to acquiring the latest devices. A secondary market will be consumers in the age ranges of 35-45. These will be young married couples with children varying in ages. These individuals will also be innovators, but with a target adjusted toward family entertainment and educational concerns. SEGMENTATION Sony segments its customer on the basis of: Purchasers of 3D television: Consumers owning an HDTV who can be emphasised to enhance their viewing experience with 3D Existing users of Sony products: Consumers who are loyal users of Sony would be targeted specically to recognize the ease of integration with the Sony product int o their existing Sony devices. CHANNELS & LOGISTIC REVIEW: Sony has a huge distribution network through many channels worldwide. Sony retailer network, which mainly comprises of retailers & distributors wants consumers to have best customer experience. Sony has its footprint across all major towns and cities in the country through a distribution network comprising of over 10,400 dealers and distributors, 270 exclusive Sony outlets and 23 direct branch locations. Sony India also has a strong service presence across the country with 255 service outlets. MARKETING OBJECTIVE: Globally demand for 3D TVs is projected to reach 15.6 million units in 2013 and the gure could reach 64 million in 2018, when total revenues are expected to hit $17 billion. The plans main objective is to ensure that 3DBRAVIA models will make up at least 10% of more than 25 million LCD TVs that Sony will sell next year and account for an even larger percentage of revenue. Secondary objective is to restore Sonys leadership in the television sector for which the consumer must associate himself with the unparalleled quality in 3D entertainment as exclusive as the Sony BRAVIA brand, thus regaining the sense of prestige that came with owning a Sony television. India is the 4th largest market of Sony. BRAND POSITIONING: Sony has a unique, distinctive position in the eye of the consumer. Sony products are considered to be high quality. Sony Bravia added a new dimension in that with introduction of Worlds 1 st microtubular hot cathode florescent lamp (HCFL) that reduces power consumption by 50% thereby reducing the consumers electricity bill.

SWOT ANALYSIS
STRENGTH * Strong Brand Image & Worldwide Reputation * High Quality Product with highend Technology * Pioneer in the Industry as Being Creative and Innovative * Manufacturing locations around the World * Accessibility through SONY WORLD and retail outlets * Only company fully emerged in the 3D value chain: content, distribution anddisplay * Partnership with ReelD, manufacturers of 3D glasses * The new 84" X Series BRAVIA with 4K XReality PRO Picture Engine

WEAKNESS * Not enough market data available for 3D preferences * New hardware is required for 3D * Switching from present day 2D to 3D will be expensive * Limited 3D content * Viewing experience may not be comfortable * Last major company to launch 3D TV

OPPORTUNITY * Continuous growth in their sectors. * Increasing demand in technological products around the world * 3D Gaming * Academic and Professional applications * Medical Applications * 3D TV sport content * 3D Advertising content * 3D PCs Vaio *Other 3D consumer electronics- cameras, camcorders, etc

THREAT * Strong competition in the market. * Samsung 3D HyperReal Engine with 85" immersive screen that is on the verge of its launch * Competitors such as Panasonic, LG and Samsung have already introduced their3D TVs in the market * Newer, better technology could emerge

BRANDS PRODUCT PORTFOLIO BRAVIA 3D HDTVs are to be positioned as luxury electronics. Their high quality is communicated by an elegant design and awless attention to detail. The current line-up has 19 series, starting from 22 with the recent addition of 84 X Series (4K) BRAVIA LED TV. BRAVIA launched KDL-V40XBR1 in 2005, widescreen LCD TVs that featured "Live Colour Creation," utilizing a special backlight system to achieve an incredibly wide colour gamut for deeper colours and full HD resolution panels for crisp, detailed images. In 2006 Sony launched SXRD technology that revealed the true cinematic beauty of images. In 2007 World's first organic light emitting diode (OLED) TV. In 2008, Worlds 1st microtubular HCFL was introduced to reduce power consumption. In 2009, ultrathin BRAVIA LCD HDTV featured an advanced edge-lit LED backlight. 2010 experienced the World's first HDTV powered by Google TV followed by full HDTV with 3D, HDD and Blu-ray recorder 2011 Bravia Internet TVs equipped with X-Reality PRO functionality to offer consumers a new style of viewing entertainment and in 2012 it launched 3D HDTV with 55 screen size. 2013 witnessed the launch of the immersive screen 213.5cms (84inch) Bravia with the technology of 4K XReality-Pro.

PRICE Current pricing strategy has Sony 3D HDTVs wedged somewhere between that of Samsung and Panasonic. Sonys pricing is considerably higher than its competitor making it a high end product for the elite class. Its range starts from as low as Rs. 14,900 to Rs. 16,99,900 PLACE Consumers may purchase the product at their nearest high-end electronics store or consumer chain, through an online retailer, or directly from Sony World or Sonys online store. Retailers are advised not to subsidize the in-store product demonstration and to draw customer attention to the prestige of carrying Sony BRAVIA televisions. To make the Sony 3D Experience valued by the consumer, many stores include a new Sony 3D Experience home theatre room. PROMOTION & ADVERTISING Sony believes that the real consumer value proposition is in the wonder that is produced by experiencing 3D content on 3D Sony equipment and is hardly concerned with the technological specications Sony plans 3D Experience to the consumer directly, regardless of their demographics and so it plans to launch small-screen sets with price starting from Rs 15,000 to tap demand in small cities and towns across the country. Sony plans for a nationwide, promotion centered strategy structured around a mobile campaign to showcase the 3D Sony Experience in a home theatre environment. The working name for the initiative is Sony 3DWORLD. Using Promo Aid it designed a portfolio of promotional companies to employ in this campaign.

RECOMMENDATIONS Being the industry leader since ages, Sony Bravia should try to penetrate more into tier 2 and tier 3 cities along with the rural market It should always aim to gain the first movers advantage and increase its product line at the low price segment It should try to involve consumers more in its marketing plans that would create the interest and desire to purchase Sony should strengthen its Brand Association