Vizio's Marketing Mix
Vizio uses unprecedented technologies to ensure that their products are of the highest quality available. This approach has helped the company prosper and grow to great levels in the entertainment industry. Vizio now offers everything from multiple types of televisions (LCD, LED, 3-D) to home theatre products, tablets, and wireless routers. While their main product remains to be their televisions, the variety of products that they now offer are rapidly becoming popular amongst consumers in North America. Although Vizio’s newer products are a huge success, we believe that for now Vizio’s televisions would be the best product to offer in the Australian market.
When looking at the high demand for television in the Australia …show more content…
When dealing with importing and exporting, differing currencies is an obstacle that multinationals must confront. Vizio, being an American based company, uses the United States dollar (USD) in their operations. However, the national currency in our proposed destination does not use this currency but rather the Australian dollar (AUD). Luckily, these two currencies fluctuate similarly and are currently valued at very similar net worth. This is an advantage because product prices can be easier to determine based on what the products successfully sell for in their homeland’s currency.
With the ubiquity of televisions in Australia, along with their devotion to the consumption of television, using this as the main advertisement method is almost a no-brainer. Digital technologies in Australia have allowed for larger opportunities for the people to watch television. These technologies have allowed for companies to be able to target specific consumers for advertisements, which can be a huge advantage for the entertainment industry. Free to air television recently hit a 7year high, hitting 14 million people on a daily basis. These conditions have provided advertisers with a higher flexibility of advertising formats that provide endless opportunities for them to uniquely relate and engage with desired audiences. With more and more people watching, and the increased amount of free TV, television