What stands in the way of Sony's success today?

Solution-

According to me, Sony’s success is hurdled by the presence of low-cost competitors. Because of them, Sony’s market shares are shrinking which could be a serious concern for Sony in the future. Consumers can easily get good quality products from other brands in approximately half of the price offered by Sony. Sony is facing intense competition in the industry because of which the sales of Sony have dropped significantly. Another hurdle before the success of Sony is the fluctuations in the foreign exchange. Sony has its operations across the world because of which it is affected greatly by the volatile political climate. Sony needs to know these fluctuations and should respond accordingly. Rivalries of Sony are utilizing new technology and upgrading their products to meet the demand of the consumers. Consumers go with the brand providing the latest features and technology. Sony’s products are very costly as compared to other similar brands. This limits the sales of Sony to the premium consumers only.

Explanation-

Sony is one of the premium electronics brands. Today, there are several threats before by Sony that create hurdles in its way to success. Sony is continuously facing downfalls in its sales and number of consumers. This has limited its success across the world.

References

Calvano, E., & Polo, M. (2020). Market Power, Competition and Innovation in digital markets: A survey1. Information Economics and Policy, 100853.

Gunasegari, N. (2020). Consumer Buying Behaviour Towards Sony Television Sets in Tindivanam. CLIO An Annual Interdisciplinary Journal of History, 6(6), 319-333.