When Sony Introduced the World's First High-Definition Television to the Japanese

question 48

Essay

When Sony introduced the world's first high-definition television to the Japanese market in 1990, it was priced at $43,000. This helped Sony to scoop the maximum amount of revenue from the various segments of the market. The price dropped steadily through the years - a 28-inch Sony HDTV cost just over $6,000 in 1993, but a 40-inch Sony HDTV cost only $450 in 2014. What pricing strategy did Sony use here?

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Definitions:

Marketing Objective

A specific goal that a company wants to achieve with its marketing efforts, such as increasing brand awareness or sales.

Growth Stage

A phase in the product life cycle characterized by rapid sales growth, more competitors, and increased marketing and production.

Brand Extension

Brand extension involves using an existing brand name on a new product category, levering brand equity to enter new markets or sectors.

Sugar-Free Drink

A beverage that does not contain sugar, often sweetened with artificial sweeteners or natural alternatives.