Chapter11 - Developing and Managing Products.

A product that is new to the world, market, producer, seller is called new product. Sony's Bravia 3D TV is a good example of new product that goes under category addition to existing product lines( new produtcs that supplement a firm's established line). Sony already had existing TV lines and added new 3D TV to Bravia line.

Developing new products goes through many stages before going to the market. The first stage is new product strategy that outlines roles of future product. The second stage is generation of ideas coming from customers, competitors, distributors. The idea of 3D is an example of a new and innovative technology. Then the idea goes to screening process(3rd stage) by appointed screening group. then product goes to another stage Business analysis. Sony does research of competition and market to determine future profitability. The next stage is development when Sony tested of the product performance and safety. Then its product- Bravia 3D is introduced in test market to evaluate consumers response. Finally Sony brings the product to commercialization. Since Sony already has TV line it already has most building inventories. Sony has experienced sales force that presents new product to the market

Chapter 7. Business Marketin(continued)

Sony also involved in strategic partnership or strategic alliance is cooperative agreement between business firms. for example, on December 13,2007 Indiana University and Sony Electronics announce strategic alliance for HD production project. Potential research activities to be conducted by Sony and Indiana University include  technologies such as virtual reality, 3-D video and 3-D animation, as well as the development of new communications tools to engage teachers and students. 

Also in May 20, 2010 Sony established strategic alliance with Google. the goal of both companies The two companies started working together to explore the joint development of compelling new Android-based hardware products for the home, mobile and personal product categories. 

(http://www.sony.net/SonyInfo/News/Press/201005/10-0521E/index.html)

 

Chapter 7. Business Marketing

"Business marketing is the practice of individuals, businesses, commercial businesses and organizations marketing their products or services to other individuals, companies and organizations that in lieu of adopting the merchandise as their own for their own personal consumption, use them as components in products or services they offer, use them to support their operations or more commonly - resell them."

Sony Electronics is a leading provider of audio/video electronics and information technology products for the consumer markets. Sony also offers a full line of business-to-business products for medical, security, visual imaging and photofinishing applications.

chapter 8. Segmenting and Trageting Markets.

A market segment is a group of people that might share few characteristics and that have similar product needs. The first thing the corporation has to do before making a product is to identify with target market is willing to buy it. Market segmentation meets 4 basic criteria: 1) sustainability, 2)identifiably and measurability, 3) accessibility 4) responsiveness.
Also age, race, gender, income status and family life -cycle- all need to be considered. Most consumers of Bravia 3D TV are from generation X and generation Y. The majority of TV buyers are men. Most of the "home" time men spend watching sports, or playing video games. A lot of video games, for example, for Sony Play Station 3, are made in D which require 3D TV. Family life-cycle is also very important factor. The majority of 3D TV consumers are single people. Singles are likely to have more free time, like i said, men can spend their time playing video games all night.  Married couples, specially with kids, have less time for watching TV. But because of  really tight schedule they might not have time or energy to go out for movies, they can easily have their 3D movie theater at home.