Market Analysis – Sony Bravia

Sony Bravia In the Australian Market beat color corresponding No some other Executive heavyset penetration Summary This compensate get out articulate purchases of the Sony Bravia Tele trance in the Australian marketplace. It forget illustrate information to infract an in-depth understanding of the consumers buying habits. The research for this report includes information sourced from the Sony website itself, interpreted and applied to the Australian Marketplace. Body Summary The major findings picture there are sundry(a) factors impact the Australian marketplace.Overcoming a major affright is possible by utilising Sonys strengths to husband relevance in the Australian Marketplace. oddment/Recommendation Summary It is clear that overtime, Sony go away go steady a variety of threats and weaknesses, that leave jeopardise the success of the comp both. This report recommends that Sony maximises its strengths to inhabit creating innovative technology, to pass over its perception of adept of Australias tribute tele pile producers. sidestep of Contents Executive Summary2 Introduction4 Purpose4 potentiality4 setting4 Background4 environmental S mint6 frugal modulates6 Demographic influences6Competitive influences7 policy-making influences7 Social/Cultural8 technological influences8 S. W. O. T digest9 Conclusion12 Reference list14 Introduction Purpose This report aims to present an undefiled investigation of Sony Bravia in the Australian marketplace, and to leave recommendations for the nurture of the confederations success. Authorisation This report is authorised by Anne Tonkin, TAFE SA, and compose by Lynden Beck, a student of Anne Tonkin. Scope This report relates exactly to the Sony Bravia television set, within the Sony union and attempts to draw links to further development of understanding the Australian market place.Background In 1944, Mr. Akio Morita, an officer in the Japanese naval forces worked with Mr. Masaru Ibuka, on a military task designing heat anticipateing missiles. after(prenominal) World War II, Morita and Ibuka halted their friendship, and founded the corporal brand k instantern as Sony. Sony was created on the shared belief that it could create ideas from image and make them a reality. The main design of Sony was to create innovative products that would excite their customers. Sony is now one of the worlds spark advance producers of home entertainment systems with major interests in consumer electronics.Today, Sony has a vision to celebrate support that is expressed through and through advertisements. A vision articulates the focus and direction of an organisation. Sonys vision states Creativity is our essence, we take chances, we exceed expectations, we alleviate dreamers dream. This statement expresses Sonys need to satisfy their customers. Sony foc make use ofs on delivering a lavishness experience which can only be experienced through their product. Sony Market abridgm ent Environmental Scan Economic influences * The financial Crisis of 2007- 08, is considered by many economists to be the score financial crisis since the Great Depression of the twentieth Century.The effect of the crisis on Australia has been considerably little than in many other countries, until now the effects on households are sub collectibled present today. The Financial Crisis reduced the income of Australia by nearly 10% by march 2009. Further to a greater extent than, the Australian consumer is expected to save 21% more of its income during 2012-13. The Australian economy predicted slight likely to purchase luxury items, much(prenominal) as a Sony Bravia television. * The Household assist Package introduced by the Federal brass in May 2012, is a blusher part of the clean energy future tense plan.This giving medication subsidy is designed to propose financial support to the middle crystalize Australian householders in the introduction of the carbon copy valu ate. Demographic influences * The demographic of the population consists of consumers who seek a subsidy product. The demographic of Bravia owners are, out-of-pocket to its pricing, of a grittyer socioeconomic class cause the Bravia to be seen as a location symbol. Sony Bravia offers Colour like No Other, implying exclusivity. * Sony Bravias typical taper audience are consumers who are witting of the companys material sources and sustainability policies, as well as their not-for-profit work in the familiarity.Competitive influences * Samsung, LG and Panasonic are well-known competitors of Sony. Each offering similar applications on televisions. Therefore companies must compete with customer service this includes sanction lengths, replacement guarantees, prompt repair or replacement, to establish loyal customers. * Whilst cheaper televisions go little(prenominal) features they still appeal to consumers referable to the down(p) prices, putting pressure on the larger companies to compete for sales. Political influences * The introduction of marginal wage has affected the international mployees of Sony on the job(p) in sweat shops or factories, due to the increase of the minimum wage Sony will have to pay more taxes. In addition, Sony must increase prices of products to maintain a certain profit rate. * Sony large mask televisions cost 30% more in chinaware than they do in Australia. Tariffs on the importation of Sony products manufactured in China which then arrive in Australia ease with inflated prices. Social/Cultural * Sony puts limited emphasis on the cultural character of its consumers. Sony is a premium product with premium prices, and is therefore seen as a status symbol amongst eastern and western cultures.Generally, only wealthy Australians can afford a Sony Bravia. * Todays culture places more value on experience quite an than materialistic possessions. Sony Bravia overcomes this desire by creating an experience that offers Colo ur like No Other. This television offers both an experience, and a possession. Technological influences * Technology is rapidly advancing causing electronic products to be out go out regularly. Sony must be innovative with its products to maintain its competitive edge. LED televisions consist of a display that uses LED backlighting instead of the frigidity cathode fluorescent backlighting used by liquid crystal display televisions.LED televisions reduce energy consumption, produce interrupt contrast in brightness and a greater colour range. * As 3D products are becoming more prevalent at homes Sony intends to increase sales of 3D televisions, by 50% of their respective television distributions by 2012. S. W. O. T psychoanalysis A S. W. O. T analysis is a prick used to analyze the internal and out-of-door factors affecting a company. It is one of the some commonly used business analysis and decision-making tools. In this report, a S. W. O. T analysis will be used to show the strengths, weaknesses, opportunities and threats of Sony Australia.Strengths Weaknesses Opportunities Threats Creative catch phrase Colour like no other. gritty price can deter buyers. (smaller pit audience) Strong corporate brand Sony can be identified for many things. Environmental concerns, high cost in rill electronic products. Strong status symbol, Sony is a premium product, and a luxury item. delinquent to faulty wiring, the Sony Bravia was recalled between 2007-08 Age of technology, televisions have come from being a luxury to a household necessity. Product confusion. Consumers inefficient to differentiate brands. Technologically advanced.The Bravia television with high resolution 4 times any other HD T. Vs Sony un suitable to provide premium customer service, due to high occupation visiting store. Sony strives to employ diverse sight to ensure the company achieves innovation and a wide range of skills. Emphases on experiences quite than materialistic obj ects, such as pricey televisions. Product features Your Presence is Needed app, which allows the TV to change by reversal off once it senses the attestator has left. Sony Bravia is not distributed into stores such as K-Mart and Big-W. Creating less impulse buyers. Changing Technologies Sony is investing in change 3D capabilities and additional wise to(p) TV apps. Global Financial crisis. The Australian consumer is expected to save 21% more of its income during 2012-13. Sonys involvement in the community and its participation in charity work. less adverts on Australian television Sony foot Australia is a not-for-profit charitable organisation. Carbon tax less money for Australian buyers to croak on high quality televisions. Sony is able to cater for the Carbon tax through apps that save electricity. Hard for non-technological people to uses due to extensive applications. Sony supports many initiatives that reduce harry and degradation Must advertise online if futile the Sony brand may fall behind. A major threat for Sony is the environmental concerns regarding electronic products. Current social values place emphasis on maintaining sustainability. Sony focusses on improving the energy efficiency of their products by the use of the Minimum pushing Performance Standardsand Energy Rating labels which appear on all electronic item. These help customers consumers choose more efficient appliances and save money on running the products.Sony Australia is enabling and encouraging Australian consumers to recycle batteries. Batteries collected are transported and recycled in a safe, environmental manner. Valuable materials such as cadmium, nickel, iron, cobalt and lead are reclaimed, and are reused as raw materials . Additionally, Sony has created various applications on televisions to save electricity. Motion sensors turn off the back screen when the dish leaves the room. In overcoming environmental threats faced by Sony, the three strengths listed above suggest the efficacy to overcome perceived threats.Conclusion This report has analysed the brand, Sony, and in extension, the Sony Bravia product. This report illustrated Political, Social/Cultural, Technological, Economic, Demographic, and Competitive factors that influence success in the Australian marketplace. A S. W. O. T analysis described the companys strengths, weaknesses, threats and opportunities. It is recommended that Sony maximises its strengths to continue creating innovative technology, to continue its perception of one of Australias premium television producers. Reference list * earth Australia. (2010).The E3 Program Improving Our Energy Efficiency. for sale http//www. energyrating. gov. au/. Last accessed 26/03/13. * Elliott, M. (Nov. 13, 2006). Akio Morita & angstrom unit Masaru Ibuka. Available http//www. time. com/time/magazine/ bind/0,9171,1554986,00. html. Last accessed 25/03/13. * Fung, D . (October 13, 2011). Sony Bravia 40-inch TV models could explo de, melt. Available http//www. cnet. com. au/three-sony-bravia-40-inch-tv-models-could-explode-melt-339324229. htm. Last accessed fourteenth March 2013. * Hales, S. (May 2010). Sony settles into the premium market with 2012 Bravia range.Available http//www. connectedaustralia. com/ word/BreakingNews/tabid/119/ArticleId/7190/Sony-settles-into-the-premium-market-with-2012-Bravia-range. aspx? dnnprintmode=true&mid. Last accessed fourteenth March 2013. * ING DIRECT. (January 2013). Year of the Saver. Available http//blog. ingdirect. com. au/2013/02/28/the-year-of-the-saver/. Last accessed 20/03/13. * Make. take . (January 2013). Our Vision . Available http//www. sony. com. au/ name/300251/section/sonycompanyoutline. Last accessed 20/03/13.. * Queensland Government . (24 November 2012). Swot Analysis . Available