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A PROJECT REPORT ONPRODUCT STRATEGY AND NEW MARKET OFFERINGS OF SONYSUBMITTED BYTEHSEEN HANIF ANSARIROLL NO-15004M.COM- SEM-II(BUSINESS MANAGEMENT)ACADEMIC YEAR: 2014-15

PROJECT GUIDEMR.S.N CHITALE

SUBMITTED TOUNIVERSITY OF MUMBAIMULUND COLLEGE OF COMMERCES.N ROAD, MULUND (WEST)MUMBAI 4000080.

DECLARATIONI, TEHSEEN HANIF ANSARI, ROLL NO 15004, STUDENT OF MULUND COLLEGE OF COMMERCE, S.N ROAD, MULUND (WEST), MUMBAI 400080 STUDYING IN M.COM PART-I HEREBY DECLARE THAT I HAVE COMPLETED THE PROJECT ON PRODUCT STARTEGY AND NEW MARKET OFFERINGS OF SONY UNDER THE GUIDANCE OF PROJECT GUIDE PROF.MR.S.N CHITALE DURING THE ACADEMIC YEAR 2014-2015.THE INFORMATION SUBMITTED IS TRUE AND ORIGINAL TO THE BEST OF MY KNOWLEDGE.

DATE:PLACE:SIGNATURE:

CERTIFICATEI, PROF.MR.S.N CHITALE hereby certify that MISS TEHSEEN HANIF ANSARI, ROLL NO.15004 of Mulund College Of Commerce, S.N Road, Mulund (West),Mumbai-400080 of M.Com Part-I (Business Management) has completed her project on PRODUCT STARTEGY AND NEW MARKET OFFERINGS OF SONY during the academic year 2014-2015.The information submitted is true and original to the best of my knowledge.

PROJECT GUIDE PRINCIPAL

COURSE CO-ORDINATOR EXTERNAL GUIDEDATE:

ACKNOWLEDGEMENT

I, Tehseen Hanif Ansari would like to express my sincere gratitude to the principal of Mulund College of Commerce Dr Mrs. Parvathi Venkatesh, Course Co-ordinator and our project guide Mr S.N Chitale, for providing me an opportunity to do my project work on PRODUCT STARTEGY AND NEW MARKET OFFERINGS OF SONY Special thanks to library in charge, which provided the necessary books and other data which acted as stepping stone in my project and also those who have directly or indirectly helped me in project for their encouragement and timely help.Last but not the least, I wish to avail myself of this opportunity, to express a sense of gratitude and love to my friends and my beloved parents for their help and support.

SIGNATURE:DATE:

INDEXSR.NOTOPICPG.NO

CHAP 1PRODUCT STRATEGY1-3

CHAP 2INTRODUCTION TO SONY4-10

2.1PRODUCT PLANNING DECISION OF SONY11-14

2.2PRODUCT LIFECYCLE OF SONY15-19

2.3PRODUCT FAILURE OF SONY20-23

CHAP 3NEW MARKET OFFERINGS OF SONY24-27

CHAP 4CONCLUSION28

WEBLIOGRAPHY

CHAPTER 1-PRODUCT STRATEGYA product strategy draws from the ultimate vision of the product. It states where the product will end up. By setting a product strategy, you can determine the direction of your product efforts. Product is anything that can satisfy human needs and wants. The product is a combination of tangible and intangible aspects of the products offered by the manufacturer to the customers. It can be defined as a bundle of satisfactions and dissatisfactions offered by company to the customers at a point of time.Similar to making effective use of a map, you first need a destination, and then you can plan your route. Just as a business has a strategic vision of what it wants to be when it grows up, the product has its own strategy and destination.The product strategy forms the basis for executing aproduct roadmapand subsequentproduct releases. The product strategy enables the company to focus on a specific target market and feature set, instead of trying to be everything to everyone.Elements of a product strategyWhen defining your product strategy be sure to answer the following questions.WHO ARE YOU SELLING TO?Define your target customer or market. Identify whom you are selling to, and what that market looks like.WHAT ARE YOU SELLING?Describe how potential customers will perceive your product compared to competitive products. Understand what makes your product unique in the market.WHAT VALUE DO YOU PROVIDE TO YOUR CUSTOMERS?Determine what problems your product solves for customers. You cannot be everything to everyone within a particular market, but you can help to solve specific problems. Create a value proposition to position the value you provide and the benefits that customers will receive with your solution.HOW WILL YOU PRICE YOUR PRODUCT?State how you will price the product. Include its perceived value and a pricing model.HOW WILL YOU DISTRIBUTE YOUR PRODUCT?Describe how you will sell your product, and how your target market will acquire your product.Creating your product strategyTo create your product strategy, start with identifying themarket problemsyou would like to solve. This includesinterviewingyour target market, understanding the competitive landscape and identifying how you will differentiate yourself.Your product strategy will change over time as you learn more about your market, and as (if) you decide to enter different markets. Listening to your market and developing your product strategy is a circular process; as you learn more, you will evolve your product strategy and the problems you solve.Example:Product strategyHere is a brief example of a product strategy. Your product strategy will vary, and will probably be longer, but should follow the theme of the five questions above. We build quality kitchen hardware for residential kitchen customers. Our customers are young North American families who want kitchen hardware that can stand the wear and tear of young children. They are interested in materials that are safe for children and eco-friendly. We sell our products through a retail channel. Our products are priced per unit, and are considered high-end hardware solutions.Power of the product strategyThe power of a product strategy comes from what you define as well as what you exclude.By identifying a particular target market in your product strategy, you are also excluding other markets. This helps your company to understand which projects fall outside the product strategy and distract from strategic goals.

CHAPTER 2-SONY CORPORATION

Sony Corporation commonly referred to as Sony is Japanesemultinationalconglomeratecorporation headquartered in KnanMinato, Tokyo, Japan. Its diversified business is primarily focused on the electronics (TV, gaming consoles, refrigerators), game, entertainment and financial services sectors.The company is one of the leading manufacturers of electronic products for the consumer and professional markets.Sony is ranked 105th on the 2014 list ofFortune Global 500. Sony Corporation is the electronicsbusiness unitand theparent companyof the Sony Group, which is engaged in business through its four operating segments electronics (includingvideo games, network services and medical business),motion pictures,musicand financial services.These make Sony one of the most comprehensive entertainment companies in the world. Sony's principal business operations include Sony Corporation (Sony Electronicsin the U.S.),Sony Pictures Entertainment,Sony Computer Entertainment,Sony Music Entertainment,Sony Mobile Communications(formerly Sony Ericsson), andSony Financial. Sony is among theWorldwide Top 20 Semiconductor Sales Leadersandthird-largest television manufacturerin the world, afterSamsung ElectronicsandLG Electronics.Sony offers a number of products in a variety of product lines around the world. Sony has developed a music playing robot calledRolly, dog-shaped robots calledAIBOand ahumanoidrobot calledQRIO.As of 1 April 2012, Sony is organized into the following business segments: Imaging Products & Solutions (IP&S), Game, Mobile Products & Communications (MP&C), Home Entertainment & Sound (HE&S), Devices, Pictures, Music, Financial Services and All Other. ElectronicsSONY CORPORATIONSony Corporation is the electronics business unit and the parent company of the Sony Group. It primarily conducts strategic business planning of the group, research and development (R&D), planning, designing and marketing for electronics products. Its subsidiaries such as Sony EMCS Corporation (6 plants in Japan), Sony Semiconductor Corporation (7 plants in Japan) and its subsidiaries outside Japan (Brazil, China, England, India,Malaysia,Singapore, South Korea,Thailand, Ireland and United States) are responsible for manufacturing as well asproduct engineering. In 2012, Sony rolled most of its consumer content services (including video, music, and gaming) into theSony Entertainment Network.AUDIOSony produced the world's first portable music player, theWalkmanin 1979. This line fostered a fundamental change inmusiclistening habits by allowing people to carry music with them and listen to music through lightweightheadphones. Walkman originally referred to portable audiocassetteplayers. The company now uses the Walkman brand to market its portableaudioandvideoplayers as well as a line of formerSony Ericssonmobile phones.Sony utilized a related brand, Discman, to refer to its CD players. It dropped this name in the late 1990s.COMPUTINGSony sells many of itscomputerproducts using theVAIObrand.Sony produced computers (MSXhome computersandNEWSworkstations) during the 1980s, exclusively for sale in the Japanese market. The company withdrew from the computer business around 1990. Sony entered again into the global computer market under the new VAIO brand, began in 1996. Short for "Video Audio Integrated Operation", the line was the first computer brand to highlight visual-audio features. Sony faced considerable controversy when some of its laptop batteries exploded and caught fire in 2006,resulting in the largest computer-related recall to that point in history. In a bid to join thetablet computermarket, the company launched itsSony Tabletline ofAndroidtablets in 2011. Since 2012, Sony's Android products have been marketed under theXperiabrand used for its smartphones. On 4 February 2014, Sony announced that it will sell its VAIO PC business due to poor salesand Japanese company Japan Industrial Partners (JIP) will purchase the VAIO brand, with the deal finalized by the end of March 2014.However, in news release on the Sony Global website, published on 5 February, the corporations states: "Sony continues to address various options for the PC business, but Sony has no further comments."PHOTOGRAPHYSony offers a wide range of digital cameras. Point-and-shoot models adopt theCyber-shotname, whiledigital single-lens reflexmodels are branded usingAlpha.The first Cyber-shot was introduced in 1996. At the time, digital cameras were a relative novelty. Sony'smarket shareof the digital camera market fell from a high of 20% to 9% by 2005. Sony entered the market fordigital single-lens reflex camerasin 2006 when it acquired the camera business ofKonica Minolta. Sony rebranded the company's line of cameras as itsAlphaline. Sony is the world's third largest manufacturer of the cameras, behindCanonandNikonrespectively.VIDEOIn 1968 Sony introduced theTrinitronbrand namefor its lines ofaperture grillecathode ray tubetelevisions and (later)computer monitors. Sony stopped production of Trinitron for most markets, but continued producing sets for markets such as Pakistan, Bangladesh and China. Sony discontinued its series of Trinitron computer monitors in 2005. The company discontinued the last Trinitron-based television set in the USA in early 2007. The end of Trinitron marked the end of Sony's analog television sets and monitors.Sony used the LCD WEGA name for its LCD TVs until summer 2005. The company then introduced the BRAVIA name.BRAVIAis an in house brand owned by Sony which produces high-definition LCD televisions, projection TVs and front projectors, home cinemas and the BRAVIA home theatre range. All Sony high-definition flat-panel LCD televisions in North America have carried the logo for BRAVIA since 2005. Sony is the third-largest maker of televisions in the world. As of 2012, Sony's television business has been unprofitable for eight years. In December 2011, Sony agreed to sell all stake in an LCD joint venture withSamsungElectronics for about $940million. On 28 March 2012, Sony Corporation andSharp Corporationannounced that they have agreed to further amend the joint venture agreement originally executed by the parties in July 2009, as amended in April 2011, for the establishment and operation of Sharp Display Products Corporation ("SDP"), a joint venture to produce and sell large-sized LCD panels and modules. Sony also sells a range ofDVD players. It has shifted its focus in recent years to promoting theBlu-rayformat, including discs and players.SEMICONDUCTOR AND COMPONENTSSony produces a wide range of semiconductors and electronic components including image sensors, image processor (BIONZ), laser diodes, system LSIs, mixed-signal LSIs, OLED panels, etc. The company has a strong presence in the image sensor market. Sony-manufactured CCD and CMOS image sensors are widely used indigital cameras,tablet computersandsmartphones.SONY MOBILE COMMUNICATIONSSony Mobile Communications Inc. (formerly Sony Ericsson) is amultinationalmobile phonemanufacturing company headquartered in Tokyo, Japan and a wholly owned subsidiary of Sony Corporation.In 2001, Sony entered into a joint venture with Swedish telecommunications companyEricsson, formingSony Ericsson.Initial sales were rocky, and the company posted losses in 2001 and 2002. However, SMC reached a profit in 2003. Sony Ericsson distinguished itself with multimedia-capable mobile phones, which included features such as cameras. These were unusual for the time. Despite their innovations, SMC faced intense competition from Apple'siPhone, released in 2007. From 2008 to 2010, amid a global recession, SMC slashed its workforce by several thousand. Sony acquired Ericsson's share of the venture in 2012 for over US$1 billion.In 2009, SMC was the fourth-largest mobile phone manufacturer in the world (afterNokia,SamsungandLG). By 2010, its market share had fallen to sixth place. Sony Mobile Communications now focuses exclusively on the smartphone market under the Xperia name.

SONY COMPUTER ENTERTAINMENTSony Computer Entertainment is best known for producing the popular line of PlayStation consoles. The line grew out of a failed partnership with Nintendo. Originally, Nintendo requested for Sony to develop an add-on forits consolethat would playCompact Discs. In 1991 Sony announcedthe add-on, as well as a dedicated console known as the "Play Station". However, a disagreement over software licensing for the console caused the partnership to fall through. Sony then continued the project independently.Launched in 1994, the firstPlayStationgained 61% of global console sales and broke Nintendo's long-standing lead in the market.Sony followed up with thePlayStation 2in 2000, which was even more successful. The console has become the most successful of all time, selling over 150million units as of 2011. Sony released thePlayStation 3, a high-definition console, in 2006. It was the first console to use theBlu-rayformat, although its expensiveCell processormade it considerably more expensive than competitorsXbox 360andWii. Early on, poor sales performance resulted in significant losses for the company, pushing it to sell the console at aloss.The PlayStation 3 sold generally more poorly than its competitors in the early years of its release but managed to overtake the Xbox 360 in global sales later on.It later introduced thePlayStation Move, an accessory that allows players to control video games using motion gestures.Sony extended the brand to the portable games market in 2005 with thePlayStation Portable(PSP). The console has sold reasonably, but has taken a second place to a rival handheld, theNintendo DS. Sony developed theUniversal Media Disc(UMD) optical disc medium for use on the PlayStation Portable. Early on, the format was used for movies, but it has since lost major studio support. Sony released a disc-less version of its PlayStation Portable, the PSP Go. The company went on to release its second portable video game system,PlayStation Vita, in 2011 and 2012. Sony launched its fourth console, thePlayStation 4, on 15 November 2013.On 18 March 2014, atGDC, President of Sony Computer Entertainment Worldwide Studios Shuhei Yoshida announced their new virtual reality technology dubbedProject Morpheusfor PlayStation 4. The headset, still in prototype form, will bring VR gaming and non-gaming software to the company's new console.

2.1-PRODUCT PLANNING DECSIONS OF SONY1. PRODUCT LINE DECISIONS:The marketer should decide whether to concentrate on one product or deal with a product line. Product mix involves a set of products which a marketer may offer to the market. For instance, SONY corporation has a huge product line. They concentrate on a number of products precisely and uniformly. For instance Sony product line consist of Audio Home, portable and car as well as personal navigation systems Video Video cameras, digital cameras, DVD/Video players & recorders Televisions LCD televisions, Projection televisions CRT-based televisions Information and computers personal computers, printers Semiconductors- LCD, CCD, and other types of semiconductors Games PlayStation Television and motion pictures The company offers a Sony Card and a PlayStation card, these are rewards cards credit cards which allows customers to earn redeemable points when they purchase Sony products and services

2. PRODUCT PACKAGING:The marketer should design the proper packaging. Packaging serves various purposes-protection, preservation, and promotion of the product. For instance SONY uses streamlined packaging Smaller product packaging not only enables the product to use less packaging material, it also makes a big difference in reducing the environmental impact of distribution, because more products can fit in each shipping container. Sony is streamlining packaging in all product categories.Packaging for smaller productsPackaging redesign not only targets televisions and Blu-ray equipment but also smaller products. Sony is refining the shape of product packaging and the layout of accessories inside to trim the amount of packaging material used. This blister pack for a Bluetooth laser mouse is a good example. The new packaging slashes the amount of plastic used by nearly 70%.Environmentally conscious packaging material, tooAs SONY shrinks product packaging, we also take every opportunity to switch to environmentally conscious packaging material. Use of oil-based polystyrene foam is minimized, and we are introducing recycled plastic and similar material while shifting to alternatives with recycling infrastructure in place.

3. PRICING OF THE PRODUCT:The products are in such a way that there are designs for different budgets. The company targets all the customers ranging from low-end customers to high end customers. The Pricing of products start fromRs.1700/- and it goes up to Rs. 70000/-

Price variables such as dealer price, retail price, discounts, allowances, credit terms etc. influence the development of marketing strategy, as price is a major factor that influences the assessment of value obtained by customers. . Sony being a company which emphasize product quality, it tends to sell its products with price range from moderately-low to high-prices, depending on the use and products.

4. PROMOTION DECISIONS:The marketer has to resort to promotional activities to inform and to induce the target customersto purchase the product. Sony has promoted its products through different sales promotional. strategies. For example after the release of the Sony BRAVIA television sets, Sony promoted them by earl bird prizes by saying that all BRAVIA full HD LCDTVs during July 2008 and registered within two weeks of purchase qualify for a Bonus Playstation 3 as longas the customer claims is one of thefirst 35,000 received and validated by Sony. .The Promotional activities are mainly done through advertising. Sony has been sponsoring WTA tours. The Brand Ambassadors of the company include many tennis stars such as Maria Sharapova, pop stars and actors in different countries. The company has also adopted the method of Sales Promotion by giving free gifts or use of Scratch Card.

5. DISTRIBUTION DECISIONS:Sony being the companywhich positions itself as a seller of durable and high-end products, it is practicing selective distribution of its products from the selective dealers i.e. SONY World. Apart from this there aregrey-markets in India and other countries where a practice of intensive market coverage ispracticed, and the products in these kind of markets normally do notposses all the features and benefits which Sony offers e.g. warranty and guarantee. Sony distributes its products in various channels. It uses Zero-level channel, one level channel and two-level channel. In India, Sony has used themethod of one-level distribution channel. This means that, customer buys their Sony product from the retailers recognizedby Sony, and these retailers buy the products directly from the company itself.

6. AFTER-SALE-SERVICE DECISIONS:The marketer should decide about the after sale service decisions, especially in case of consumer durable and on industrial items such as machinery. For instance; effective after sale service is provided by Sony to build long term relationship with the customer.They provide 24 hours after sale service to the customer. The customer care staff are also polite towards the customers and solves their queries on time.

2.2-PRODUCT LIFECYCLE OF SONYProduct Life Cycle Stages ExplainedThe product life cycle has 4 very clearly defined stages, each with its own characteristics that mean different things for business that are trying to manage the life cycle of their particular products.Introduction Stage This stage of the cycle could be the most expensive for a company launching a new product. The size of the market for the product is small, which means sales are low, although they will be increasing. On the other hand, the cost of things like research and development, consumer testing, and the marketing needed to launch the product can be very high, especially if its a competitive sector.Growth Stage The growth stage is typically characterized by a strong growth in sales and profits, and because the company can start to benefit from economies of scale in production, the profit margins, as well as the overall amount of profit, will increase. This makes it possible for businesses to invest more money in the promotional activity to maximize the potential of this growth stage.Maturity Stage During the maturity stage, the product is established and the aim for the manufacturer is now to maintain the market share they have built up. This is probably the most competitive time for most products and businesses need to invest wisely in any marketing they undertake. They also need to consider any product modifications or improvements to the production process which might give them a competitive advantage.Decline Stage Eventually, the market for a product will start to shrink, and this is whats known as the decline stage. This shrinkage could be due to the market becoming saturated (i.e. all the customers who will buy the product have already purchased it), or because the consumers are switching to a different type of product. While this decline may be inevitable, it may still be possible for companies to make some profit by switching to less-expensive production methods and cheaper markets.Product Life Cycle ExamplesIts possible to provideexamplesof various products to illustrate the different stages of the product life cycle more clearly. Here is the example of watching recorded television and the various stages of each method:1. Introduction-3D TVs2. Growth-Blu ray discs/DVR3. Maturity -DVD4. Decline -Video cassetteThe idea of the product life cycle has been around for some time, and it is an important principle manufacturers need to understand in order to make a profit and stay in business.However, the key to successful manufacturing is not just understanding this life cycle, but also proactively managing products throughout their lifetime, applying the appropriate resources and sales and marketing strategies, depending on what stage products are at in the cycle.

PRODUCT LIFE CYCLE OF SONY WALKMANStage1:IntroductionDevelopment:The Sony Walkman was developed in the Sony Research Center, Yokohoma, Japan.Sony invested billions of dollars in R&D, especially product development.It had 4 corporate laboratories, nine development groups, and R&D labs around the world.

The first Sony Walkman, the TPS-L2, entered the marketplace on July 1, 1979, in Japan.Sony had designed a heavy, portable tape player before at $1,000 per unit, but there was no demand.Sony chairman Akio Morita had requested for a design with cheap components and a small, stylish body. Sony Walkman was priced to sell at $200.Sony's obsession with making popular devices smaller helped perpetuate Japan's reputation for producing technology in miniature. Along with highlighting the compact design, Sony also pioneered the idea of portable music as a sign of youth.Teenagers were often the target demographic in advertisements for the Walkman, and Sony hoped that the device would become associated with fitness, youth and mobility.Walkmans came in a variety of bright colors, and many models were labeled "Sports."Stage2:GrowthOn average, minor Sony product changes occur about once a year.For Sony Walkman, new models were introduced every six months or less. Plus an anniversary model on first July every year.Major model changes that require the introduction of new technology occurred only once every three to five years. Sony worked to prolong the product's life in the marketplace.Sales were very good. A total of 220 million cassette Walkman players were sold.Stage3:MaturityBy late 1980s, competition grew, from Toshiba (Walky), Aiwa (CassetteBoy) and Panasonic. Sony's compact disc player, the Discman, was introduced in 1984.As CDs became more popular, cassettes naturally began to disappear. As a testament to the strength of the brand, though, Sony began to market other products with the name "Walkman," abandoning the Discman name altogether.Walkman lived its product life well. It set the stage for innovation and further development and brought about new products like MP3 players and iPods.Stage4:DeclineSony failed to maintain its leadership in the segment that it had created itself! MP3 players were more popular soon, and not many people were interested in the cassette player.Sonys youth-in-motion branding was taken over by the more dynamic and aggressive iPod from Apple.In October, 2010, Sony announced that April 2010 was the last month of production in Japan.

2.3-PRODUCT FAILURES OF SONY

Betamax video, 1975

Sony developed Betamax back in the day to combat JVC's rival VHS format. The video quality actually superseded VHS, and the tapes were smaller. But JVC's format won the day, in a classic marketing triumph, leaving Sony's format to limp on as the little-used underdog for decadesthe last tape was produced in 2002.Digital Audio Tape, Mid-1980's

Sony introduced the DAT as a digital successor to the regular analog cassette tape for consumers, combining spinning-head technology from video tape machines and digital-encoding. It was controversial, with the RIAA lobbying to prevent DAT machines being sold in the U.S. on the grounds it would facilitate high-res album copying (sound familiar?). DAT saw limited take-up by the consumer, thanks partly to expensive players. Sony officially killed the format in 2005, as it never lived up to the success of cassettes, and was overtaken by recordable CD tech.

Minidisc, 1993I remember being hugely excited by the Minidisc when Sony launched it. It seemed like a tiny, recordable digital music standard was a good thing. The discs came in a sled that protected them from harm. Though they could've been successful, Sony sadly added stern digital copy protection, and that, combined with high media prices and the steep cost of buying a player/recorder meant it never took off. It was also superseded by recordable CDs. The product has disappeared, though Sony still makes a single player/recorder unit.

ATRAC Audio Compression, 1993Sony developed ATRAC for the Minidisc, where it was used to fit near CD-quality and size audio files onto the much smaller physical disc space. That was a fabulous use, but when Sony introduced its first all-solid-state Walkman much later, it chose to use ATRAC. In fact it took until 2004 for Network Walkman to support MP3s natively, by which time MP3s had taken off. It was a nasty, close-minded move by Sony, and it failed. MP3, an open standard, is king for a reason.Memory Stick, 1998Sony developed its Memory Stick technology for its own digital cameras and portable music players. It was an entirely proprietary format, initially limited to Sony alone, and designed as an additional revenue stream for the company. After all, if you wanted to buy a Sony digital camera, you had to spend more money on media for it. The core technology also went into the memory cards for the PlayStation range, and Sony enhanced it with the Duo and Micro variations. While Memory Stick slots are occasionally found on non-Sony laptops, the format has never taken off with other manufacturers.Universal Media Disc, 2005

Sony took some of its miniDisc thinking into the design of the optical discs for the PlayStation Portable. Games and movies were distributed on the format, but since it was clunky it made the PSP larger than it needed to be and never saw widespread support from movie studiosproduction of UMD movies was significantly cut back as soon as 2006. The new PSP Go has ditched the UMD for a digital-only distribution model.With the impending death of UMD and MemoryStick Micromaybe implying MemoryStick itself is on the way outwe really hope Sony's evil proprietary format-loving days are over. But with a Sony heritage dating back to 1975, it may be a forlorn hope.

CHAPTER 3-NEW MARKET OFFERINGS OF SONY

Companies first find the target market than segment and then customers. After these companies go about developing products, which may be product modification or it may be a completely new product. Product offerings are increasing every year as consumers are looking for more and more variety of products. Companies which are unable to churn out new products fall back on competition and suffer the consequences. Companies face danger not just from competitors but consumer needs, technology, and product life cycle. New product development has its share of challenges. Research shows that 95 percent of new products fail in USA and in Europe failure rate is 90 percent.Organizational set up has to be conducive to support new product development. Foremost companies must allocate funds for research and development, the conventional way is the percent of sales technique. Others chose to allow employees dedicate a certain amount of work time on new product development. Companies next have to organize the process of development. This can be done by product managers with new product development experience or by cross functional team with members chosen from various departments having the knack of developing new products.

NEW PRODUCTS:1. TELEVISION: Sony Electronics showcased its new line of BRAVIA 4K Ultra HD televisions, designed to enhance image quality and provide expanded access to content. The televisions were built with a new 4K Processor X1, further advancing the color accuracy,

contrast and clarity of the Sony 4K viewing experience. The new XBR X900C Series features a new ultra-thin floating style, making it Sonys thinnest TVs yet with edge-to-edge viewing. The new models range in size from 43 to 75-inches and include four new series and 10 new models. As the industry leader in 4K picture quality, Sonys commitment to developing technologies to enhance the viewing experience is showcased with this line-up. The new 4K Processor X1 was built to enhance color, contrast and clarity while improving the streaming quality of images that 4K content providers supply. Combined with the advanced 4K X-Reality PRO up scaling Algorithm technology, these televisions will analyze and upscale 4K resolution, providing the best image quality, regardless of the image source. For the first time, these televisions will support Googles Android TV operating system, making it easy to stream video, function as a gaming device and provide enhanced features like voice-enabled searching through a remote equipped with a microphone.2. PORTABLE AUDIO: Sony Electronics introduced new portable audio products designed to reproduce the ultimate audio sound quality without restictions or set-up hassles. Consumers can utilize the new High Resolution NW-ZX2 Walkman player and MDR-1ABT Headphones or the PHA-1A headphone DAC/amplifier to enhance their mobile or computer listening experience. Further advancing the reach of high quality sound, Sony also announced a Hi-Res car audio head unit.Sony has made it possible to enjoy music at a higher sound quality by applying unique audio technologies that bring listeners closer to the spirit and intent of the artists original performance. These new products further the desire to equip consumers with the best portable products possible to enjoy a fully immersive, Hi-Res audio experience from practically any location.3. VIDEO CAMERAS:

Sony Electronics, a worldwide leader in digital imaging, has today introduced its most powerful POV camera to date, the 4K Action Cam.The new camera, model FDR-X1000V, applies the companys vast expertise in 4K video production to a compact, splash-proof POV camera design, allowing adventurers to capture stunning 4K content (38402160@30p 100Mbps1/60Mpbs) with ease, which can be played back on a compatible 4K TV directly from the camera through HDMI. It also features enhanced HD video performance with upgraded stabilization, image quality and high-frame rate shooting.4. BLU-RAY DISC PLAYERS: Sony Electronics today unveiled its latest and smartest Blu-ray Disc players. Capable of delivering top quality video from packaged Blu-ray Discs or instantly streaming a wide variety of online movies, videos, TV shows, and music from over 300 applications including Netflix, YouTube, Pandora, Hulu Plus, Amazon Instant Video, Video Unlimited, and more, these new models reinforce Sonys leadership in the Blu-ray Disc player category.5. 4K PROJECTOR:

Sony Electronics unveiled today the new full 4K VPL-VW350ES projector, broadening its home theater projector line-up. The VPL-VW350ES is Sonys latest product to deliver a true 4K experience, offering four times the resolution of Full HD with a 4K native resolution (4,096 x 2,160).With our 4K projection expertise, Sony is unrivalled in our ability to offer breathtaking image quality, said Toshifumi Okuda, Sony Electronics Deputy President. The VPL-VW350ES enables us to deliver the very best home cinema experience to even more of our customers.

CHAPTER 4-CONCLUSION

The impact of technological change on a firm is usually considered an external influence. By taking such an essential role, driving the markets forward through its innovative research and development, Sony has been able to become a proactive force, rather than having to react to changes. By internalising much of the technological advances, Sony put itself in a strong position to fulfill its goals and objectives. However, Sony has only been able to achieve this by being prepared to change and adapt from within.Sony has been a very well-established company over the years and has always been known for quality and innovative products. Although the company's strategies are geared towards the right direction since they are facing all their challenges and issues with improvements, the company can always seek a more proactive approach on dealing with the market rather than reacting to it. For instance, Sony can revolutionize a particular market by creating a product that is far more innovative than competitors that competition is virtually non-existent. Although it may be riskier to approach the market this way, it can yield much higher returns and ultimately make a huge impact on the market as well as consumers. However, Sony has been remarkably successful over the years through its more conservative approach and continues to dominate multiple markets to this day.

WEBLIOGRAPHYhttp://www.sony.net/http://www.11points.com/http://blog.sony.com/ces/http://www.smallbusiness.wa.gov.au/

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