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The Relevance Of Marketing Concept To The 21st Century Business Of Sony - Essay Example
Sony Corporation is one of the legendary Japanese multinational conglomerate brands operating successfully in the segment of electronic products, since 1946. It is headquartered in Kōnan Minato, Tokyo of Japan but serves the customers of worldwide…
Sony is the unbeatable name in the sector of electronics and so Sony Group (Sony Electronics in the U.S.) is extremely famous around the entire globe. Thus, after Samsung Electronics and LG Electronics, Sony Corporation is a Japan-based corporate group concentrating mainly on the Electronics (such as AV/IT products and components), Game (such as PlayStation), Entertainment (such as motion pictures and music), and Financial Services (such as insurance and banking) sectors. This helped in enhancement of the total revenue of the Sony in the year to US $ 72.349 billion along with net income to US $ 458 million. Along with this, it also improved the brand image and reputation of the organization within the minds of the customers resulting in amplification of its equity and position in the market among others rivals.
Description of the Marketing Concept of Sony
The term Marketing is defined as an activity used to present varied types of products and services as per the demands and needs of the customers of the market. Other than this, it is a procedure of presenting the values and benefits of a product or service to its customers, so as to increase their awareness towards the brand or products. It is denoted as one of the most critical business functions entirely utilized for attracting a large array of customers.
Other than this, marketing might also be described as a link within the society’s material necessities and its economic patterns of reply. ...