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VIZIO and the Market for the Flat Panel TV Essay

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VIZIO Introduction

VIZIO HDTV, a well-known brand which was founded by a Taiwanese American William Wang, the brand slogan “Where Vision Meets Value”, headquartered in Irvine, California. In 2007, VIZIO skyrocketed, became America’s best-selling brand of flat panel HDTVs, but also become the first 10 years of the major U.S. TV sales market leading American brands. VIZIO is committed to bringing innovative practice feature-rich flat panel televisions to market. VIZIO offers a variety of award winning Plasma and LCD HDTVs including the new XVT series. VIZIO’s products in Costco (Costco Wholesale), Sam’s Club store (Sam’s Club), Sears (Sears), Wal-Mart (Walmart), Target Stores (Target), BJ’s Wholesale, the nation within the other retail providers and authorized online partners have sales office. VIZIO has won numerous awards including Inc. 500 best computer and electronics companies, “Good Housekeeping” (Good Housekeeping) named “Best widescreen” award, CNET’s “Top 10 Holiday Gifts”, “PC World “and” best Buy “award and so on.

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Flat panel TVs Market Analysis
The Flat panel TVs market is a really competitive one. There are several great and well known International Brands such as Samsung, LG, Sony, Sharp and so on. TV is the necessary product of every house, office and also for the exhibition. It’s a large market and keeping growing, that’s why so many companies want to be the leader brand of this industry. Here I provide one graphic as below to show that Vizio is the Top one brand in North America and Samsung is the second place but the gap between those two brands is not very big. Besides USA, Samsung, LG & Sony win more market share in other area such as Europe and Asia so there’s still a challenge waiting for VIZIO.

SWOT
Strength
Price Advantage
OEM factory cooperation strategy
High C/P value
Cooperate with great retailer in USA(Costco, Taget, Bestbuy) Weakness
Hard to control all factories’ quality.
Transportation risks.
Not a very famous brand in Asia.
Opportunity
Potential Markets (Asia-China, India, Europe)
Join to the Mobile devices (Smartphone, tablet)
Threat
Cheaper price provided from China local TV company.
Very powerful competitors (In great technology background and resources)

Conclusion
VIZIO is a really successful brand in USA but they need to keep their price advantage and well know what customers need. Samsung is a really threatening competitor, try to win more market share from them, make the gap bigger.

Try to explore to the Asia market. I think the target for VIZIO in 2013 2014 is that they need to gain more reputation and customers in China. Make a strategy to win their attention, understand their culture and try to find the consumer formula, do the research for the better sales mode such as selling place, product position…etc.

Reason for selecting this topic
Vizio is founded by a Taiwanese and its headquarter is just in Irvine. Those points are very attractive to me because I can find some similar things. Furthermore, I worked for an electronic components company before, the
company provides the components to VIZIO’s factory. Also, I was an sales and my customers was two very famous Korea top TV brands. That’s why I want to do the further research to VIZIO.

Work Cited

VIZIO official website
http://wikiyou.tw/vizio/
IHS research company
IDC research company