Sony EPRG framework

docx

School

Delhi Public School, R.K. Puram *

*We aren’t endorsed by this school

Course

MISC

Subject

Management

Date

Nov 24, 2024

Type

docx

Pages

Uploaded by Learn1perfect

Use of the EPRG framework and suggestions Sony Electronics Corporation has employed the EPRG framework (a tactical approach that helps businesses understand and manage their worldwide operations) to analyse the viewpoints and perspectives of its managers about the global potential for the launch of its brand-new, cutting-edge digital camera in North America. The EPRG framework comprises of four orientations: ethnocentric, polycentric, regional, and geocentric. Sony views the entire globe as one market and makes judgements on a global scale by following a Geocentric approach. Sony's managers have realised that they must take into account the specific needs and preferences of the North American market in order to secure the success of their new product in the region. They use customer feedback and market research to tailor the camera’s availability, positioning, and delivery to the demands of the North American market. It pays special attention to the behavioural and cultural differences of its customers in the region and designs its products and processes around them to combat competitive offers. Thanks to the Geocentric approach, Sony has been able to utilise its deep knowledge and global resources to develop a product distribution and promotional strategy that is especially tailored to the needs of the North American market. Thanks to the same, Sony has also been able to achieve economies of scale, lower costs, and improved operational efficiencies, alongside better cultural and human resource-based orientation, cooperation (Anderson, 2019), and understanding.

Appendix A 51.12% 23.59% 14.62% 5.98% 4.70% % Market Share - Digital Camera Market Canon Sony Nikon Fujifilm Panasonic Source: digitalcameraworld.com (Artaius, 2021)

Appendix B ANSOFF Matric – Digital Camera Business, N. America P R O D U C T O R S E R V I C E S MARKET Existing New Existing  Existing Active Customers  Existing Competitor customers  Non-users can be changed MARKET PENETRATION STRATEGY  Enter new market segments  Develop new means of distribution  Enter new geographical markets MARKET DEVELOPMENT STRATEGY New  Adopt latest trends, technologies, features  Adopt best practices and latest quality standards  Develop the latest products PRODUCT DEVELOPMENT STRATEGY  Enter into tactical agreements  Enter into mergers  Acquire firms with synergistic offers DIVERSIFICATION STRATEGY

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Appendix C Details of Porters 5 force analysis Digital Camera Business, N. America, Sony Electronics Corporation Table 3. Porter's Five Force analysis - Digital Camera Business, N. America, Sony Electronics Corporation Threat of new entrants: The threat of new entrants into the digital camera market is relatively low due to the high barriers to entry. These barriers include the need for significant investment in research and development, established brand recognition, and distribution channels. Bargaining power of suppliers: Sony may face some bargaining power from its suppliers, particularly those that supply critical camera components. However, the company can mitigate this risk by having multiple suppliers and negotiating favorable supplier contracts. Bargaining power of buyers: The bargaining power of buyers is relatively high, as there are many competitors in the digital camera market and consumers have a wide range of options to choose from. Sony must differentiate its products and offer unique features to maintain a competitive advantage. Threat of substitutes: The threat of substitutes is high, as consumers can choose to use their smartphones as cameras or opt for other types of cameras such as DSLRs or mirrorless cameras. Sony can mitigate this risk by emphasizing the superior quality and features of its cameras. Competitive rivalry: The digital camera market is highly competitive, with many established players such as Canon, Nikon, and Fujifilm. Sony must continuously innovate and differentiate its products to stay competitive in the market. Overall, while there are challenges in the digital camera market, Sony's newly launched digital camera for the North American region in 2023 has a strong brand recognition and innovative technology that can help the company maintain a competitive position. However, the company must be aware of the threats posed by substitutes and competition and continue to innovate and differentiate its products.

Related Documents

Art in the Park Festival.docx

286249-35126-30-Organizati.docx

PLD 7.docx

Q16.docx

12082022!@#$%^&().docx

Order 5942412.docx

#224.docx

4497645.docx

MGT323 Week 6 Quiz.docx

lesson 12.docx

attachment_1 (11)1.docx

DISCUSSION WEEK 1 MGMT 670---Tristian Smith.docx

Recommended textbooks for you

Marketing

ISBN:9780357033791

Author:Pride, William M

Publisher:South Western Educational Publishing

MARKETING 2018

Marketing

ISBN:9780357033753

Author:Pride

Publisher:CENGAGE L

Contemporary Marketing

Marketing

ISBN:9780357033777

Author:Louis E. Boone, David L. Kurtz

Publisher:Cengage Learning

Principles of Management

Management

ISBN:9780998625768

Author:OpenStax

Publisher:OpenStax College

Foundations of Business (MindTap Course List)

Marketing

ISBN:9781337386920

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:Cengage Learning

Foundations of Business - Standalone book (MindTa...

Marketing

ISBN:9781285193946

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:Cengage Learning

SEE MORE TEXTBOOKS

Recommended textbooks for you

Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing
MARKETING 2018
Marketing
ISBN:9780357033753
Author:Pride
Publisher:CENGAGE L
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning
Principles of Management
Management
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax College
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning