In Retail Marketing It's Never Easy To Say Good Buy
Profit is no longer solely defined by products, services, warranties or credit card interest gains. Today, profit pools are inclusive to downloads of apps, widgets, movies, music, games, etc. Digitalization, miniaturization, cloud access and wireless mobility are driving dramatic and dynamic change in profit opportunities. Intensive predatory competition is also leading to dangerous commoditization of our consumer electronics market place, pressurizing margins, destroying slow moving products, morphing market dreams into painful market risk. The entire CE industry stands at a technology crossroads. There is a clear choice at the fork in the road: Innovate or find alternative avenues for growth.
Game-changing technologies from formidable South Korean goliaths and other global leaders such as Apple have reshaped the industry with disruptive, in-demand products. These companies clearly innovate to grow, innovate to survive. And these global leaders are no longer simply providers of our home, business and mobile technologies but creators of our living dreams.
These competitive challenges often cause a crisis of confidence through corporate hallways. Despite these challenges, many CE manufacturers are focused on shifting their business models to discover new profit pools and to explore untraditional yet profitable markets such as green and environmental technologies, health and personal care, business infrastructure products, and other alternatives that lead to growth.