International Marketing Strategy

International Marketing Strategy for new HD TV

[Name of the University]

Contents

International Marketing Strategy for new HD TV3

Introduction3

Environmental analysis of the television market of the UK3

Marketing tools and techniques for new region4

Cultural aspects and buying behavior5

Marketing mix strategy for the new Vizio HD TVs6

Product7

Place7

Price7

Promotion8

Foreign entry market strategy8

Global scanning9

Competitor's intelligence9

Cultural aspects and buying behavior of consumers10

Political and legal conditions10

Use of social media10

Conclusion11

References13

International Marketing Strategy for new HD TV

Introduction

The aim of writing this essay is to develop an international marketing strategy for the new high definition television which has been currently launched by the Vizio company. The Vizio is an American based electronics company mainly deals in electronic appliances such as televisions, music systems and DVD players. The company was founded in 2002 by Laynie Newsome, William Wang, and Ken Lowe. The company has launched a new high definition television set and is seeking to enter the electronic markets of the United Kingdom. This report will identify the factors due to which the company has chosen the UK as its destination market. It will analyze the market environment of the UK and discuss the positive factors for its selection of the UK as destination market. Different marketing tools and techniques would be used by the company to make the product of this company a success in the markets of the UK. It would also analyze the environmental factors of the new market and any ethical issues which company may face in the new market. The marketing mix strategy for the new market is also included in this report which will substantiate the selection of the UK market and explain the strategy of entering foreign markets which would help the company entering other markets and keep them aware about the risks and hurdles involve in this process. The following paragraphs contain the critical discussion on how the new Vizio brand of high definition television is going to capture the market share of the UK.

Environmental analysis of the television market of the UK

The Vizio has selected the United Kingdom as its potential foreign market for its new high definition television. According to the latest figures, there have been sharp declined in electronic goods mainly television sets since the worst recession of 2008. The government of the UK is trying to revive the economy and to a greater extent it has succeeded in its mission. According to the figures of a survey which was conducted in the UK, the average household posses' 1.83 television sets which was 2.3 in 2003. This decline is mainly due to the fall in the purchasing power of the people of the UK in result of the recession of 2008 due to which many organizations resorted to laid-offs to save themselves from financial problems. Since 2008, the economy of UK is now starting to improve and government is determined to end the repercussions of the recession by the end of 2014. The American based company Vizio has selected the market of the UK because the economy has started to improve ...