The first key factor of Sony’s success has been their capability to build new products and new markets. They applied commendable innovation in their product development strategies thus creating entirely new kind of products like fully transistorized radio, audio cassette recorders & television, Walkman, entertainment laptops (Vaio) & Playstation which also resulted in entirely new markets.This is quite evident from their positioning strategy of Sony Vaio Laptops which are marketed primarily as a style icon with enhanced graphics & multimedia capabilities. The Vaio laptops are positioned more for people using laptops as a style icon and for entertainment thus making them widely popular among students, women and top executives. [www.sonystyle.com] The third key success factor of Sony is their innovative marketing practices. They possess in-depth understanding of the buying behaviour, choices & passion of their consumers such that they are able to design their advertisements reflecting the choice, emotions & passion of their consumers thus pushing the Sony brand deep into their mindsets. A greater part of their success is accredited to their brand building capability. The fourth key success factor of Sony is that they do not conduct open ended marketing campaigns. They carry out measurement of effectiveness of each campaign and then carry out enhancements as necessary. The fifth success factor of Sony is their concept of SONY WORLD showrooms where all the products of Sony are displayed prominently and adequate stocks are maintained to meet the demands.
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