Project Innovation Management - Essay Example

today; and the advertising channels; it has become difficult for the companies to maintain a name and to sustain it; years of services and good image can be ruined in days. That is why it is very important for the companies to have good and developed research and development department that are constantly not only providing them with innovative idea; but at the same time also helping them to carter to different regions separately. This research is also a study of two same products produced by two different, famous companies.

It focus on what were the strategies adopted by the two companies to make the product; how have the worked towards making it different and what are the factors that led one of the product to capture a bigger market share than the other. In our study we are going to focus on Blu-Ray technology that was introduced by Sony and HD DVD that was introduced by Toshiba. We shall focus the differentiating factors; what was the market research and how were the products developed. Sony is one of the oldest and finest company that was introduced to the world in 1946, the core ideas behind Sony belongs to two very component individuals Mr.

Masaru Ibuka and Mr. Akio Morita; the two fine men started the company with only 20 men to their service. Initially the name of the company was Totsuko (Tokyo Telecommunication Engineering Cooperation) with the core objective of providing the services of repairing and building electrical goods. The name was later changed to Sony in 1955; the name was originally a sign to represent two aspects of the society that you “sound” and “youth”, the sound part is derived from the word ‘sonus’ and the youth is derived from a slang ‘sonny boy’.

The reason of changing the name from Totsuko to Sony was to reflect the spirit and true colors of the company (Trex, 2009). To make it easier for the customers to read, say and relate. Sony was the perfect match. Over the years the company has developed products such as