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Essay / Sony Analysis - 1938
Through extensive research into the Sony industry as a whole, according to the Wall Street Journal, "TVs are at the heart of Sony's heart (Dvorak P., August 29, 2005, Sony Plans Ad Blitz to Boost Ailing TV Unit)” because of the spirit of innovation, cutting-edge technology and superior quality imbued in its corporate culture. Sony's main problem observed during the research process was its high pricing strategies, especially in the struggling TV sector, which however led to a decline in its sales and revenue growth. A major downside to the high prices of Sony TVs is the rising yen, which consumers are bearing the brunt of by having to pay higher prices. This is because Sony needs to recover its lost foreign currencies due to international trade between foreign currencies and that of the Japanese yen. The study results show that due to its high pricing strategy, fewer consumers are willing to purchase a Sony TV. This concludes that price is definitely an influencing factor before considering a purchase, even though consumers value Sony's quality and brand name. Electronics Co. According to the Wall Street Journal, Sony Chief Financial Officer Nobuyuki Oneda said, “Competition is considerably tougher than we thought when it comes to the TV industry. Prices are falling faster than expected, especially in the US (Kane Y., October 26, 2006, Sony Warns of TV Price Pressures as Profits Plunge 94%)" Sony has begun to realize how deterrent the prices are...... middle of paper ... ...the answer was that the warranty of Sony TVs is effective because its TVs are designed in such a way that the product lasts longer than the warranty , which gives it a lower failure rate However, in case of failure beyond the warranty, repair costs are charged How do you think Sony is doing financially? How can they improve their TV sales? ?The reason for this question was to determine its financial performance in the market among all its competitors and also to establish the improvement of its TV products. The most important answer was that Sony is doing well financially considering the situation. global macroeconomic. For Sony to improve its sales, it must continue to develop and introduce more innovative and technologically unique products, for example, the Bravia series, and maintain the path of improving structural and operational efficiency in order to optimize production costs..