Mike Fasulo

Sony: “We’re Not After Marketshare” – But Is It the Right Strategy?

by Sohrab Osati | Jan 25, 2016 | 19 comments

One of the major takeaways from the Sony keynote at CES 2016 was when Sony Electronics COO and President, Mike Fasulo, took to the stage. Beyond a handful of jokes that never landed properly with the crowd and some dazzling product announcements like the X930D series of 4K HDR TVs Sony would be releasing this year, Fasulo was keen to point out the direction of the company in 2016.

We’re not after marketshare. We’re after delivering to the customer the best experience through audio and visual quality, and by doing so we’re making money.

Nearly 3 weeks later and I’m still not sure what I make of this.

It’s no secret that Sony hasn’t been doing well for some time now. PlayStation aside (and even that was turbulent for the company during the PS3 era), Sony hasn’t had a hit consumer electronics product for over a decade. I mean really, think about it. During that time, its competitors have been able to bring to market a plethora of hit products from established companies like Apple and Samsung to much smaller ones like GoPro and Sonos. What these companies have in common is that they’ve been able to knock Sony out of a field they were once dominant in – or at least known for, or should have been known for.

When you think of phones and tablets, Apple comes to mind. If your friend or family member is getting a new TV, it’s likely a Samsung, and everybody who wants to do some extreme and record is likely purchasing a GoPro. Though this is not always true, perhaps worse for Sony is that in many of these product categories, they make the superior product and yet they’ve completely fallen out of the consumer psyche when it comes to electronic purchases.

Sony knows this and has referenced it during their last two CES keynotes, but only this year did the company make a statement that took the problem head on. In short, Sony is no longer interested in chasing the entry level consumer market where price is the only sales driver. This is a market that was once flooded by Samsung and now by Vizio where the only way to a make a profit (and that’s oftentimes not guaranteed) is by selling units in large volumes.

Sony instead now wants to target the more premium market where they know unit sales will be lower, but hope that in turn, margins can be higher. After all, wealthy clientele are usually more willing to pay the extra premium on the devices that have been stuffed with new and innovative features. But hasn’t Sony always been doing this?

Sony’s Executive Vice President Mike Fasulo Talks About the New Sony Retail Store Initiative (Video)

by Sohrab Osati | Apr 28, 2011 | 9 comments

For those of you who might have missed the news a few weeks back, Sony is officially killing the SonyStyle name and is instead, rebranding all of their retail stores to simply be called Sony. Continuing this theme, the stores will all see a major overhaul in design and functionality, which will bring them closer to the famous Apple stores while still being exceptionally unique. I had the opportunity to visit the grand opening for the first of these stores and they are simply beautiful. However, the new name and store design is only part of Sony’s plan. Sony’s Executive Vice President, Mike Fasulo was at the new store launch where he presented the store to the media and answered some questions from the crowd as well. At minute 12, we even get a chance to sneak in our own question. After the jump, you can also find a video trailer we put together to show off this new retail initiative.

Sony Rebrands Retail Stores, Kills off Sony Style and Launches a New Store Initiative

by Sohrab Osati | Mar 31, 2011 | 13 comments

On March 30th, Sony kicked off what will be a year-long endeavor to rebrand the company’s retail stores and experience. Sony, who currently operates 27 retail stores in North America and more worldwide, unveiled not a concept store but a fully functional Sony retail outlet that will be the basis of all future stores and old ones. During our conversation with Sony’s Executive Vice President, Mike Fasulo, it was clear that Sony’s goal is to expand the Sony retail experience to many new stores, while also converting existing stores to this new layout which he hopes the company will complete by the end of 2011.

Fasulo, who joined Sony in 1984 as a junior financial analyst, has seen the company go through many different phases and he stressed that this is their most important shift yet. Part of the rebranding will be to make Sony simpler for the consumer. Unlike Apple, who enjoys a singular brand and experience, Sony has been a bahamut, with brands ranging from Sony Electronics to Sony Pictures, Sony Music/BMG, PlayStation, and Sony Style, which are the key branches, each which have many sub brands under them. This means that Sony’s retail outlets, currently called Sony Style, will now simply be called Sony. Though not in place yet, consumers simply need to visit Sony.com where they will find the destination of their choice (though each individual brand will still have their own dedicated site like PlayStation). By simply having Sony.com be the key domain for all things Sony, and having Sony retail stores simply called Sony, Fasulo and other execs hope that this simplified image will resonate better with consumers and create one compelling name and destination.

Hit the jump for additional photos and the continuation of our coverage.