Word: akihabara
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Dates: during 1983-1983
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Some two miles north of the glittering lights of Tokyo's Ginza district is a lesser-known commercial enclave that, in its way, is every bit as dazzling. Called Akihabara, it is a booming bazaar that spills over 20 blocks and is probably the world's most fiercely competitive market for electrical goods. In hundreds of sprawling stores and cubbyhole shops festooned with brightly colored banners proclaiming bargains, customers can buy almost any type of vacuum cleaner or videocassette recorder, refrigerator or radio, humidifier or home computer. Familiar brands such as Sony and Sharp are surrounded by scores...
...bedlam at Akihabara goes a long way toward explaining why Japan has conquered consumer electronics markets around the world. For Japanese companies, competition begins at home. To survive and prosper, they must turn out products with exceptionally low prices, outstanding quality and innovative features. If Japanese firms can outpace their local rivals, foreign competitors often prove to be pushovers. Says a top Japanese electronics executive: "Our target is not some other country; our target is ourselves...