As electronic companies attempt to bounce back from the recession, new business strategies emerge in the paradigm of the corporate triad of competition. Retailers are looking for new sources of revenue, broadening their product categories while custom electronic practitioners continue to forge into undiscovered markets.
Best Buy has added musical instruments and fitness related products. The iPad will expand Apple’s revenue base into the publication industry via e-readers. And it’s certainly not coincidental that Wal-Mart’s purchase of Vudu trails a recent Nielson survey report that 52% of consumers would not object to “micropayments” for online content. Wal-Mart, the largest retailer, is now catapult into the digital download business. The playground is sure a changing. Clearly centric in these moves are corporate low-cost provider (not to be confused with low price provider) strategies.
Electronic system contractors (designers and integrators) will continue to fall in niche strategies. Early-adopters, specialty electronics, audiophiles, videophiles, “right-sizers,” and other segments will continue to churn their revenue source. Larger competitors are (and will continue to be ) unable to efficiently compete or meet these segments of the market. But beware – without standards and continuing education we risk tarnishing the reputation for delivering quality products and services that the “check-out clerks” simply can’t provide.
Tags: CE Corporate Strategy, CE Niche, ESC Forward Looking, WalMart Vudu
Ahh yes, customer service! Many people now days may ask the question,”does that even exist anymore?”. The continual advances in technology flatten the world more and more each day and change the way we do business. Product information is so close to our finger tips it practically runs through our blood as we can easily compare companies and products. Businesses have begun to differentiate their product lines and services, but what haven’t they changed? How much focus has been placed on their customer service. I believe that in these economic hardships quality and service have become more important to the consumer and those who recognize and capitalize on that realization will continue to succeed. I guess we will see, there’s just some things you don’t get from the low cost big box stores. ie: quality, knowledge and service. O.K. O.K., I’m off of my soap box!!!
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