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Importance of Marketing and Innovation

How Marketing And Innovation Have Helped Sony


Innovation in products and marketing is increasingly becoming the synonym for successful brand establishment and sustainable growth of a company. Companies who have managed to obtain the correct balance between innovation and branding are climbing the success ladder faster than those who haven’t.
The current research report talks in length about how important marketing and innovation are to place a company firmly in the market. This research primarily looks into the case of Sony and how it lost its past glory due to ineffective branding and lack of innovation. Several recommendations have been listed to help Sony relive its old days of grandeur.

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Establishing a good brand name and image is very essential for companies in the present times. The various activities performed for building and establishing a brand are known as Branding. Branding is a never ending process which is performed by the marketing executives for reinforcing the strength of the company’s brand. Effective branding ensures future sustainability of a company (Birgit, 2008). Marketing along with innovation are the two main supporting activities which ensure effective brand establishment and sustainability of the company in the future. The top management is mainly concentrated on finance, production, sales and management of people. Though these are significantly important, one major pillar that of marketing and innovation is usually sidelined (Holt, 2002).

The following report discusses how marketing and innovation have helped SONY in establishing its brand and gaining a sustainable future. It concentrates on the Branding exercise and the several activities required building a brand. It also takes into account the creation of successful brands and sustaining them over the long run in relation to SONY. SONY is the best example of marketing and innovation and hence all branding perspectives are explained in this reference.

1.1. Literature Review

As per Ofek and Toubia, with the competition intensifying at a global level, operating efficiently in a manner that would ensure prolonged success and sustainability has become indispensable for organizations. Almost all the companies today are striving towards identifying strategies and ways through which they can achieve long term sustainability in this intricate business environment. Marketing managers of companies have discovered the fact that brand establishment and sustainability are the two important aspects which can assist in maintaining the position in the long run (Ofek and Toubia, 2010). However, being successful in these facets is not quite easy. Brand establishment refers to making a strong position of the brand in the market and achieving considerable growth which if attained could assist the company in acquiring a noteworthy position for a prolonged time period. Brand establishment is achieved by attempting to gain a sustainable future. Sustainability is of the utmost importance when a firm is concerned about being successful in the long run (Kohlbacher, 2011).

To fulfill the purpose of creating a sustainable future, companies ought to make their brands and businesses sustainable. This can effectively be done with help of efficient marketing and facilitating innovation. All the different concepts of marketing are interrelated which if comprehended successfully will ensure consistent success. Sustainability refers to the capability of a company to endure in the long run. When a business is concerned, sustainability refers to effectively discharging the duties a company has towards the society and environment. It shows how efficient is a company in fulfilling its duties towards the community (Marketing and Sustainable Development, n.d).

According to Phillip Kotler (2010) the father of marketing, marketing is the most indispensable part in the current scenario for every business. Till the time a company doesn’t engage itself in effectual marketing it won’t be able to gain sustainability and brand establishment. Through marketing only can a firm make its customers aware about its brand and the sustainable efforts it has been making. Innovation is an integral part of marketing. Generation of innovative ideas, concepts and executing these ideas in marketing ensure sure shot success for effective brand establishment and sustainability (Trout, n.d).

SONY is renowned for introducing breakthrough products which doesn’t let the competitors rest in peace. Company’s main product segments are electronics, games and entertainment. The firm has built a strong brand for itself in the global market area. It is very prominent in blending marketing with innovation. From its very inception the founders of the company have effectively combined innovation and marketing to achieve desired results. The innovations of the company have become an integral part of its mainstream culture (Marketing Innovation: The Subtraction Tool in Brand Development, 2012).

1.2. Research Methodology

Aim – To analyze the importance of marketing and innovation in brand establishment, growth and sustainability is the aim of this study.

Objectives –

  • To analyze the significance of marketing and innovation in branding.
  • To identify and analyze the key success and failure factors of SONY brand.
  • To study how SONY Corporations used product innovation and marketing in branding. 

Research Questions –

  • How marketing and innovation help in brand establishment, growth and sustainability?
  • What were the problems faced by brand Sony?
  • What were the strategies followed by SONY to build a strong brand?
  • Which new strategies can be adopted by SONY for brand growth and sustainability?

Research Tools – For the purpose of collecting primary data, interviews have been conducted with fifteen managers who are engaged in the marketing operations of SONY. A well structured set of questions have been prepared for this purpose. Secondary data has been gathered by reviewing journals, research papers, books and news articles. Several literatures on branding have been gone through. This provided information on the branding strategies used by SONY. Random sampling technique has been employed to select the sample from the population. Data analysis has been conducted both through qualitative and quantitative methods. Themes have been prepared to analyze the qualitative responses.

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1.3. Structure of the research

The research is demonstrated in a proper sequence and all the chapters of the overall report are interrelated i.e. researcher can progress with the next section only on the completion of the previous section. Following are the various chapters in the research report:

  • Chapter 1: Introduction – This chapter of the research report presents the background of the research. It also encompasses a brief outline of the research methodology and literature review. Basically this chapter gives an overview of all that is being done in the report.
  • Chapter 2: Literature Review – This section of the report takes into account the literature from various sources pertaining to the topic in hand. It basically talks about marketing, innovation and its importance in brands establishment and sustainability for SONY. Various books, academic journals, online reference materials and articles have been reviewed to write down this section. It is a very important section as it provides insights into the researches being done in the past and gives the researcher a sound base.
  • Chapter 3: Research Methodology – This chapter reflects the diverse research methodologies that have been used for gathering information for the subject matter. It contains the aims and objectives, research question, data collection and analysis methods and type of research. The limitations of the study and ethical considerations are also included in this section.
  • Chapter 4: Data Analysis & Findings – The data so collected in the previous section is analyzed in this section. This primarily incorporates the evaluation of the outcomes so obtained and generating inferences from it.
  • Chapter 5: Conclusion & Recommendations – This is the concluding chapter of the research report. It states the various conclusions drawn from the overall research and suggests recommendations that could be implemented by the company to effectively establish its brand and attain sustainable development.

1.4. Conclusion

As the intention of every company is to create and nurture clients, marketing and innovation are the major two functions that the company has to perform. Marketing and innovations generate results while the others are more of an expense to the company. The marketing strategies of SONY are quite innovative and path breaking. Innovation has long been the centre of focus for the marketing executives of the company (SONY’s History -- Through the Eyes of the Company’s Leaders, 2010).

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  • Baumgarten, M., 2012. Paradigm Wars - Validity and Reliability in Qualitative Research. GRIN Verlag.
  • Birgit, S., 2008. Managing and Marketing Radical Innovations: Marketing New Technology. Routledge.
  • Cohen, L. and, 2007. Research Methods Education. 6th ed. Routledge.
  • Doyle, P. and Bridgewater, S., 2012. Innovation in Marketing. Routledge.
  • Galea, C., 2004. Teaching Business Sustainability: From Theory to Practice. Greenleaf Publishing.
  • Goddard, W. and Melville, S., 2004. Research Methodology: An Introduction. 2nd ed. Juta and Company Ltd.
  • Govaert, G., 2010. Data Analysis. John Wiley & Sons.
  • Herbst, F. and Coldwell, D., 2004. Business Research. 2nd ed. Juta and Company Ltd.
  • Holt, K., 2002. Market Oriented Product Innovation: A Key to Survival in the Third Millennium. Springer.
  • Khanzode, V. V., 2004. Research Methodology. APH Publishing.
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