Sony Corporation is one of Leading Manufacturing and Distribution Company in the world, Sony is headquartered in Minato, Tokyo, it is a multinational conglomeration company, which was established in the year 1946. The company deals with exclusive designs, developing and manufacturing the products like communication products, televisions, videos, audio products among all other electronic components, computer hardware. Other than manufacturing various kinds of products it has also provided services to sectors like insurance, finance assignment help sectors like banking, credit finance and network services as well as in the advertising agencies, it offers two types of business assignment help like B2B and B2C.
INTERNAL ENVIRONMENT: SWOT ANALYSIS
To evaluate/analysis of the brand Sony on the basis of Strength, weakness, opportunities, threat(SWOT) will provide the guidance to the company to understand the areas of growth and where Sony Stands. Let’s analyse the different areas:-
Strength – The plus point of Sony, it is wide ranges of products in its portfolio and it has the capacity to develop a high quality of products for its customers. The availability of advance information technology help also makes the company capable to making multiple customer specific products. Moreover, the company has the good brand image and trusted customers from all over the world; it has the capability of wide market share and wide ranges of products.
Weaknesses- The price is the main weakness of this brand as it is relatively higher than its other rival company’s market price, it sometimes becomes expensive for the world to afford it, this makes the customers switch to other cheaper brands and also the lack proper communication makes it difficult to increase their productivity in the work.
Developing the market as per the customers’ demands, as people spends lot of money in purchasing the electronic items which makes a new opportunity to establish in the market. The technology in the company can also be used for expansion plans and increase the income. Moreover the originality of the products be an essential asset for the potential growth, it also helps to win the customers loyalty. Expanding the products through various strategic partnerships is can also be done to create good market for the company.
New competitors entry has been a threat for the company, there are other companies like Xiaomi and huawei making similar products in the lower price, as Sony is Japanese brand so sometimes it faces some challenges with various foreign exchange policies, the brand has always made several products but the launch of new products is not happening recently, so the limited products availability has posed a threat to the company. Another biggest challenge of the company is the maintenance of profitability as the brand lies with software piracy; therefore the company must make solutions to protect its software products.
EXTERNAL ENVIRONMENT: PESTLE ANALYSIS
Sony corporation has globally succeeded in the electronic markets , thus being such a big brand it has macro environment or external factors has some issues which needs to be addressed .Thus, Pestle analysis will help to identify the external factors like political, economic, socio cultural, technological , ecological and legal aspects.
· The Political factors which affect the Sony Corporation is the different kinds of political barriers faced from the government. Though, the company has huge opportunity to grow, increase governmental support for data security.
· Apart from these other political instability also give rise to insecurity to the business basically in the countries like in China where brand has a large amount of supply chain.
· Sony hold biggest opportunity in growing economic, the markets of the brand has the highest growth rates that can help the company increase in revenues.
· But, now the economic position is down as it is facing pandemic, the period of low employment has affected the millions of jobs, also the closure of market has impacted the business and Sony is going through economic recession like other companies.
· Social factors have a huge impact on the business, changes in the social factors led to increase the demand of certain products. Due to globalization, the customers’ buying experience is getting impacted, they are being influenced by the socio-cultural factors
· Now the increase demand of online games has made the new set of opportunities for the brand to make certain products that can generate revenues for the industry, the company has its play station where consumers can purchase gaming products by Sony.
· Due to the advent of new technologies, the company is improving the research and development capacity. The company is looking forward to provide customers with much more technological advanced stuffs.
· Sony is investing in the digital technology and social media is the effective platform for it, it has started investing largely in technology to provide personalise services to the customers.
· The company’s investment in R&D has helped in developing competitive advantages for the company; the company has the huge chances to grow in the electronics, gaming and various other areas.
· Sony holds a massive opportunity to grow if it follows the sustainability efforts in its brand images.
· Sony has the capability of making best products which can be eco friendly
· It has also started to increase the availability of recycle facility; this will help to improve the success and growth rate of the company.
· The company might get involved in the laws and legal proceedings of the county where the company is doing its business. The company has faced the legal proceedings against the growing e-waste which is a threat to the environment.
· Therefore , Sony must invest in making the additional guidelines on the safety of the products to improve the competitive advantage
Thus, after analysis the both internal and external environment of the company it can be highlighted that the company’s major strength of power is its brand, but still there are high chances of increase in the business if it invests time and money in the promotional activities. It also needs to think twice about the market price of the products, the company has opportunity to develop many innovative products and increase its market revenue in the gaming platform products. To increase its competitive advantage the brand must also focus in corporate social responsibility and sustainability of the products so that the customer’s loyalty remains bonded.