Marketing Strategy of Sony Corporation
The essay intends to discuss why it is necessary to understand competitors and howunderstanding of competitors can help successful planning of marketing activities. The essayintends to determine the importance of strategic marketing planning and its need of understandinga company’s rival. Through the essay a better understanding of strategic marketing planning, andthe need to know competitors will be made.
Background of the company
Sony Corporation is a Japanese electronics manufacturer, with headquarters in Tokyo.Sony designs, manufactures, and sells electronic equipment. It is a leader in the development of consumer electronics goods, such as videocassette recorders, cellular and cordless telephones,compact disc equipment, and television systems. Sony also manufactures computers and relateddevices ( 2003). Sony actively encourages innovation by its employees. Design engineers aregiven budgets and time for innovation and experimentation. The company holds an annual contestin which engineers show off their prototypes; bonuses are awarded to those whose prototypes areselected for eventual manufacture and marketing. Sony continually makes and offers newproducts, most of which are tested in the Japanese market. Sony has been particularly successfulin the United States market; however, it is outsold in Japan and elsewhere by Matsushita, another Japanese electronics giant ( 2003, ).
Body of the content
Management of a firm needs strategy, to make sure that everything goes well in thecompany, through the use of strategic management everything done in the company is wellorganized and no detail is being left out. The company needs strategic management to make surethat the company is doing well internally. The term strategic management originates from theGreek language, where the word means the art of a general. The person who makes strategies isthe strategist who is the leader of an army ( 1991).Strategic management decisions havemultifunctional and multi-business consequences, this kind of decision require broad consideration