Sony Marketing Research Essay Example

  • Category:
    Marketing
  • Document type:
    Assignment
  • Level:
    Undergraduate
  • Page:
    1
  • Words:
    384

Sony Marketing Research

Unit Code

Company Background

Sony is a leading electronics company in the world. The company started as a small electronics venture with the main objective of producing innovative and quality products. Since its inception in the 1940’s Sony has grown in leaps and bounds to conquer great success in the global electronics industry.

The company has diversified into the production of many products including TVs, mobile devices, personal computers, gaming devices, pictures, network services and music. The company’s noteworthy milestones include the first transistor radio, colour television, Walkman, video camera, disc recorder, play station, LCD TV and Bravia.

Management Decision Problem

However, in recent times the company has experienced declining profitability. The company has reported huge losses amid increasing competition. As such the company has to decide on which promising areas where it can produce a few products to focus on. The company intends to reduce its business units so as to limit its capital expenses and set up a business structure that guarantee stable profits.

The company has suffered recently due to losses and there is the need to restructure in the short- to medium-term. As such the company has to conduct a market research to understand the market trends. This will enable making an informed decision.

Marketing Research Problem

The marketing research problem is to determine the products to focus on.

In specific, the research problem is;

  • To identify the criteria customers use to evaluate new products;

  • To identify the product attributes that attract customer loyalty;

  • To understand how customers evaluate various electronic products in order to make a purchase decision.

  • To identify product lines that will return greater and stable profitability;

Research Questions and Hypotheses

RQ1: Do customers prefer the improvement of existing products or the introduction of new innovations?

H1: The customers prefer the introduction of new innovative products more than the improvement of existing products.

RQ2: Do customers evaluate Sony products more favourably than LG products?

H2: Customers evaluate Sony products more favourably than LG products

RQ3: Do customers evaluate Sony products more favourably than Samsung products?

H3: Customers evaluate Sony products more favourably than Samsung products

RQ4: Should Sony focus of new products areas in music, pictures, network and gaming services?

H4: Sony should focus of new products areas in music, pictures, network and gaming services