@patio11 Hey Patrick, Japan question: Anecdotally, it seems like most big Japanese brands are actually conglomerates with drastically diverse product lines. Does this check out?
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Replying to @prestonattebery
I think that describes conglomerates generally (e.g. Disney, Dell, and Doritos all have extremely diverse product lines), but the interesting thing about BigCo Japan from the US perspective is that firms have diverse ecosystems around them in a way that US companies don't.
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Replying to @patio11 @prestonattebery
For example, I get my life insurance from Sony. Why do I get my life insurance from Sony? Because Sony woke up one morning with 100k+ healthy employees and said "This is silly; why are we leaking so much margin when we could just be our own risk pool."
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Replying to @patio11 @prestonattebery
And then, after they had built an insurance company as a fun side project (as one does, when one is a Japanese megacorp), well it is just *silly* not to sell its products to the rest of the world.
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Replying to @patio11
That is so interesting! Why then do they choose to only localize the products/services in Japan?
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Replying to @prestonattebery
For insurance specifically? Heavily regulated, Japan's a plenty attractive market, no reason to cause politically powerful interests overseas to react negatively against Sony in service of a tiny portion of their business interests.
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Core line extensions are actively marketed/localized overseas. Sony Pictures runs X0% of box office returns in your country; Sony Music is one of largest labels in your country; etc.
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