Marketing company research Term Paper Example | Topics and Well Written Essays - 3250 words

Marketing company research - Term Paper Example The sector has been growing at a rapid pace since the last few years, but 2012 was a breakthrough year, as during this period, the industry generated the highest ever revenue. However, the most alarming fact about the consumer electronics market of UAE is that, it is mainly driven by the tourist segment. Hence, the dependency on the tourist segment is extremely high. The local consumers on the other hand are more cautious when it comes to the purchase of electronics product or any other luxury goods. This study will investigate about the possibilities of Sony to gain success in the UAE market. The company is currently dealing with several external business challenges and to curb those issues, they are recommended to launch a new product i.e. a Hi-Fi system with affordable price. The financial crisis of UAE and weaknesses in Dubai is also a cause of concern for the industry. The financial crisis has compelled local consumers to spend in a vigilant way. Despite the stern situation, UAE still remains an attractive market for the companies belonging to the consumer electronics segment. ... (Hsu 223) However, due to stable political scenario there is hardly any external disturbance for the companies operating in this industry. Another beneficial factor is that the people of UK are music-lover and 84% are urbanized population. Around 13.8 % and 61.5 % people belong to the age group of 15-24 years and 25-54 years, who are the potential customers of this industry. With a developed logistics infrastructure (42 airports, 4,080 km Roadways and 61 merchant marines) (â€Å"Middle East: United Arab Emirates†) the distribution of the products will not be a cause of concern. Hence, the country will offer favorable business condition for the new product of Sony. Industry Analysis The high scale of sophistication among the consumers of UAE fuels the demand of new and innovative electronics item. The demand of cutting-edge editions of the electronic products has more demand in UAE and Middle East than anywhere else in the world. However, one of the major constraints of the ind ustry growth is high price, at least for a certain segment of customers. Hence, launching new and innovative products at an affordable price range can be extremely beneficial for the companies. Since, the recent past another trend being identified in the consumer electronic industry is the shifting distribution pattern. Most of the retailers are trying to establish online shopping platforms for the purpose of reducing their cost of operation and distribution. The UAE consumers are demanding products that which has better connectivity, high-end features, and better performance, quality, speed and convenience. The market size of consumer electronics industry of UK is