Sony’s improvements in the TV Industry
In recent years, the sales of Sony’s televisions have severely decreased, mainly due to their high prices and affordability. Sony needs to lower their prices during this economic downturn while ensuring consumers the same quality products as before. We concluded that individuals with greater income and those who budget their money are more willing to invest in a premium brand television such as Sony. While the price remains one of the underlying factors on which television to purchase, the quality, and reliability of the television outweighs the price when making the final decision
By looking at Sony’s 2009 Annual Report, we can see the struggles that the electronics industry has faced over the past year. Television sales have declined rapidly compared to its competitors, Samsung, Panasonic, Mitsubishi, and many others (Annual Report 2009). By researching expert and consumers reviews of Sony’s products on several different websites, we have concluded that Sony’s televisions are priced reasonably higher than its competitors are. Vidhu from NY stated at biz.com his review of Sony’s KDL-46W5100 46 TV, Bravia W Series LCD HDTV “Wow! This TV rocks, and the internet features on are great! The image is far superior then the V series I previously owned and the sound might not be as good as hoped , but hey who listens to TV speakers anymore anyway ![...] And the Price ,,,Dare I Say it WAS INSANE ! Hats off to you guys on 9th ave. (Vidhu, 2009).” Another review, this time from an expert at alaTest.com stated “The all new Sony KDL-40XBR7 is near-perfect especially for those who were impressed with Sony's XBR8 series LCD TVs but shied away from buying it due to their exorbitant prices. While priced around $2,699.99, this LCD TV is adorned with many of the latest features (Expert, 2010).” In both reviews, they described the prices as “INSANE” and “exorbitant.” The number one solution to fix this problem comes with cutting costs and lowering televisions prices, but this creates the dilemma of consumers no longer viewing Sony as a premium name and high quality brand.
After conducting our own secondary research, we concluded that Sony’s prices are too high and may negatively affect sales. We conducted a convenience sample of eight different individuals, but we had limited time to collect our data, so we interviewed friends and family members. The data collected may be biased based on the time constraint and small sampling distribution.
We wanted to find out what the public thinks about the affordability and quality of Sony’s television products. I conducted my research by interviewing my participants over AOL chat and e-mailing them direct questions.
1. Have you ever owned a Sony television? What did you like about it?
We asked this question to find out if they had any background knowledge of Sony’s products. All participants in our interviews have knowledge of Sony’s brand and...