Contemporary And International Marketing Essay Example | Topics and Well Written Essays - 2750 words

Contemporary And International Marketing - Essay Example of globalization has forced countries and the businesses to broaden their strategies and implement these strategies in other markets to expand the size of their business and economies. Moreover, televisions, cameras, telecommunication services and products and electronic gadgets are in great demand by consumers and businesses, who are involved in producing these products and services, see this increasing demand as a great opportunity to produce even greater revenues. The expansion of business can be in the form of foreign direct investments, Greenfield ventures, licensing and franchising or by opening up a subsidiary in cross border regions. Businesses can be involved in international markets for the sake of achieving benefits and significance of production based on the increased supply and demand in foreign markets (Lukac). In Sony’s case, the Japanese conglomerate decided to expand into international markets for the sake of delivering benefits of its products and services to the customers all around the base and in return, maximizing its annual revenues and shareholders’ wealth (Sony Corporation). Sony has divided its business into five geographic regions. These are Japan region, United States region, European region, Asia-Pacific region and Other Areas which include different markets in Africa, North and South America and Oceania. Sony makes its major profits in United States, Japan and European regions, thanks to the bulk selling of its communication gadgets and television in these regions. Sony’s annual revenues in 2011 were amounted to around 7,181,273 Japanese Yen which are -0.0045% lower than the revenues reported in 2010 (Sony Corporation). Sony considers four emerging markets as its future prospects for setting up factories and operational facilities... This report stresses that Sony offers a variety of standardized products through the geographic regions in which it is doing business. These products can be classified as electronic devices, games and entertainment solutions. These categories includes a range of televisions and projectors, home theatres, cameras, laptops, games, portable entertainment solutions, cellular phones, batteries and chargers, peripheral devices and etc. Reason for producing and delivering standardized products to the target customers at dispersed locations is the high cost of producing and delivering differentiated products. Moreover, consumers’ preferences for electronic goods and gadgets are same all around the world which allows Sony to sell its trademark and standard products throughout. This paper makes a conclusion that the review of Sony Corporation’s business reveals that the company has established itself as the manufacturer of quality electronic goods and gadgets. The consistency in quality delivered to the customers and after sales service makes Sony the world’s largest manufacturer of electronic goods and a reliable name in the field, which helps the company to maintain the current market share and attract new customers. Moreover, the massive size of its business, which is dispersed in 5 regions of the world, helps Sony to outclass its competitors, which is supplemented by the strategies adopted by the company regarding its marketing mix.