Will the Playstation 3 ultimately win console wars - Term Paper Example

has developed numerous products during its sixty-four years of existence, its current claims to fame are its Blu-ray player and compatible disks and the PlayStation, which is one of the most sought after video gaming consoles. Sony has found many competitor companies, especially those that have been competing in the video game console field. Microsoft and Nintendo are Sony’s largest, most fierce competitors. Both of these companies have created gaming consoles that have given Sony a run for its money; Microsoft has the Xbox and Nintendo has the CameCube and Wii (Wolf, 2007), all three of which are also sought after for their unique gaming capabilities and experiences.

Sony Corporation, just like any other company, survives by meeting the needs and demands of their customers. Without doing so, the company risks failing financially, thus facing the possibilities of closing. Furthermore, a failure to meet the demands of customers often results in a failed business strategy, which then needs to undergo changes to gain back their customers. Employees are those that help to attract and keep loyal customers coming back to the company. Employees are a vital part of the strategic planning progress of the company, and are the ones that implement the strategies into everyday business ventures.

The shareholders are behind the investment strategies that help keep Sony Corporation running, providing the financial assistance that it needs to be able to develop and distribute its products. Sony Corporation is a business that strives on the investments of others. The media is yet another factor that plays a beneficial role of the success of Sony. To inform the public of its wondrous products, Sony relies on the media to pass along an honest, informative announcement that details all of the fine qualities of its products.

Especially in a competitive market, Sony looks to the media to show consumers the types of products that they offer and how they compare to similar products.