Sony Group Corporation which is commonly known as SONY. It is a multinational company of Japan whose headquarter is located in Tokyo, Japan and it is a corporation of manufacturer of consumer electronics products. It was founded on 7 May, 1946 by Nihonbashi. Televisions and Home Theatre , Audio,Cameras,Imaging Platform,Car Audio,Media,Storage & Cables and Professional Products &solutional are products of Sony Company. Let us know What are the ‘Sony SWOT Analysis’.
What does Swot analysis mean and why companies do it?
Swot analysis is basically done to know once business current position , it is all about to verse with all the strengths, weaknesses , opportunities and threats related to company so that they can make efficient planning accordingly in order to optimise their resources and to avoid uncertainties . This will help company for its foster growth and development, if Swot analysis is done properly than it will help company for its foster growth and development as it plays a very vital role in achieving its objectives if systematic planning is done and door of new opportunities are open to expand business.
SWOT Analysis Of Sony
Strengths
- Sony is a major player of electronics in three sectors that is electronics gadgets, gaming and entertainment and it is successful in maintaining a reputed position over years whereas many companies cannot hold their position in even one sector.
- Sony has very loyal customers, reports have been proved that their customers does not got influence towards others easily, they are very loyal to it.
- Sony provides promising and wide range of products in more than one sector; it offers high quality products and hence takes a position of valuable brand in the market.
- Sony has created its remarkable position in markets of many states of United States of America.
- Sony has been seen continuously growing and expanding their channels across everywhere. It has created widespread channels, it regesters in increase in growth as compared with last years.
- Sony is able to make great profit margins even though of low and affordable prices, it earns great and sufficient profit margins.
Weakness
There are no such many weaknesses of Sony .There are only few weakness which incurred
- Their profits dropped by 57% in some previous years as there is sudden decrease in the demand of electronics , Sony has highly dependence on .Therefore, when electronic demand will decrease, it will have a very bad impact on its position
- Their products are very expensive and cannot be afforded by every class only top and upper middle class families can purchase their products, whereas company’s perspective while designing any product should be that it should design budget friendly and easily accessible products.
- Sony does not focus more on promotional activities ,it have poor strategies of marketing and selling therefore their products cannot reach to at large extent as compared to capacity it holds to be .
Opportunities
- It can focus better on promotional and selling power so that it can able to increase purchasing power of their products
- Business diversification and new product development can foster the growth of the company and can boost up their profits at great extent
- Sony can overcome up with many more new opportunities and can develop many more new electrical gadgets or household appliances even though they are already made their space in three sectors
- Sony have so much potential for grabbing new opportunities that it can expand their business in boom period of business
- Sony should expand their business across many different countries beyond USA , it should try to reach at various countries as much as possible
Threats
- D- link , Samsung and other rival companies of Sony can attract their customers by providing them with same products by minimising their cost as compared to Sony , hence there is always stiff competition and imitation in markets which can be termed as great threat to any company
- There can be sudden arise of pandemic or epidemic which can halt the sale of once business , as we are know well versed with phase of Covid , due to pandemic , many companies have to made exit from market due to its failure as market demand dries up
- Material shortage can be a threat for any business; sometimes companies are not able to do production when there is increase of demand of its products due to shortage of raw material. Therefore to avoid it, company should keep the stock of raw material so that they can meet up the requirements of their customers.
Conclusion
Now We’ve learnt about ‘Sony SWOT Analysis’, Hence, the overall perception we can conclude up by SWOT analysis of Sony is that, products are of high quality and of wider choices that can be smoothly used for many years; it gives warranty on many of its products for long period of time. It makes pretty good profits and their sales are so good even though it manufactures products more expensive as compared to other alternatives because it provides promising quality. We got an overview that it is grabbing new opportunities which made them so successful in many of the countries but they need to be careful from the competition of newcomers in the market and to promote their products through better promotional activities and advertisement
Frequently asked questions
- What are major benefits of Swot Analysis?
- It will help you to understand competitive advantages and disadvantages of an organisation as it gives them visibility over their current status.
- To find the areas where organization is not performing well and to eradicate all possible weaknesses of an organisation.
- To understand why some aspect of organisation are lagging behind so that you can overcome it.
- This will give an organisation, a competitive advantage and to find reasons why they are not able to perform well.
- What are the main limitations of swot analysis?
If there are proms of anything, then there are cons too
- Swot analysis did not provide full and reliable information and also it is subjective in nature
- There can be lack of prioritisation, results can be disguising if leaders does not know which factor should be more prioritize and which should not
- There can be duplicity do , sometimes which can be termed as strength of a company can be turned into its weakness