Sony..read the requirement carefully Essay Example | Topics and Well Written Essays - 1750 words

Sony..read the requirement carefully - Essay Example It is also among the top a hundred effectively managed companies across the business world (Koontz & Weihrich 2006, p. 104). This was because of its renowned heritage of creativeness and innovativeness. On the other hand, marketing concept is a marketing philosophy in which a company’s goals revolve around the identification and achieving the needs and wants of the customers (Singh 2004, p. 11). Many company’s have adopted this concept over the recent years and Sony company is one of the firms that have made use of this philosophy in order to achieve its consumer oriented goals. With this, this essay will delve into the relevance of the marketing concept to Sony Corporation by expounding on the ways in which the company has applied it successfully to encompass its global operations. The history of marketing concept In prior years, companies used the sales concept and the production concept to foster their operations, but they proved ineffective in achieving the consumer satisfaction. In essence, the production concept was in existence in the 1920s and its rise attributed to the industrial revolution witnessed across the globe (Faarup 2010, p. 23). The concept was effective because most of the goods produced at this time met the basic needs hence creating a higher demand for the same. At this time, the sale of the manufactured products was easy as sales teams were able to execute sales transactions through a price that was subject to the cost of production. The sales concept followed the production concept in the 1930s because of increased competition that was able to meet the unfulfilled demands. The idea behind this concept was that companies had to influence consumers to buy their products through promotional strategies because of the competition experienced in the market. The sales concept failed because its focus was mainly on the sale of the products without factoring in whether the consumers actually needed the product that they were selling . The implication of this was that this did not attain customer satisfaction as marketing came after the development and production of the products for sale. However, many equate marketing to sales, but these two entities are quite different in terms of approach and influencing customer satisfaction. Marketing concept gained momentum after the Second World War because of the increased consumer spending because people could now afford to buy selected products (Faarup 2010, p. 24). With this, companies began to focus more on the needs of the consumers by developing products after ascertaining what the market wanted. The advantage that this presented was that companies could now achieve profits by satisfying the consumer needs for their overall benefit. In essence, marketing concept relies on research of the market to determine the market size, needs, and the segments that exist within the market. In order to satisfy the needs of the consumers, the marketing team decides on the ways of controlling the parameters of the marketing mix. Sony Corporation and the marketing mix Marketing mix is a business-marketing tool, which encompasses the four Ps in the influencing of consumers towards accessing a company’s products and services for the attainment of its goals and objectives (Lamb et al 2008, p. 148). The four P’s are price, place, promotion, and product that when mixed reflect the nature of different