Consumer Electronics Market at your Finger Tips - Introduction
Have you ever felt lost in the dense market Labyrinth while shopping for an electronic item. Be it online or store, the choice for the consumer to select an item is infinite.
Every brand advertise their product to be the best in technology and value for money. So what do you do. A lot of people who are online savvy look out for reviews and take a decision, while others just look for support from a tech savvy person from family and friends. With all the inputs I've received , it seems inevitable that Consumer is just lost in the Electronic market Labyrinth and shopping either on an impulse or getting attracted to the advertised product.
Let's take an example. What if i ask you to choose a favorite number between 1 and infinity or choose a favorite number between 1 and 20. Which one seems easier? This one seems rather easier than pinpointing an electronic gadget with all the options available. But still, i guess it's mostly a number between 1 and 20 easier to pinpoint. Anything range bound is easier to select and pick.
Similarly, if you know the range of specifications available in the market for a specific product category available, would it not ease the process of selection?
But why is this important?
I think, every consumer should be aware of the minimum and maximum specification available in the market for a product category before selecting an item. This would enable your selection in the following ways.
- You know, where your Chosen product stand in terms of specification and it would be easier for your next up-gradation.
- You see the entire market spec range in front of you and that simplifies the overall electronic Market Labyrinth.
- You know how models differ from each other and that is precisely competitive analysis with respect to specification.
- You'll be able to select a product just based on your application need.
How will it help?
We all know the after effect of greed based buying to the global economy from the recent past years and we are still trying to come out of it. Is the consumer, market and innovation with a need based approach better for the global economy? Only Time will tell. But yes, technically you'll be happier with your application and value based buying rather then going with an impulse with most of the electronics in the product going unused in the entire Product Life Cycle.
But why this Article?
Coming back to where we started, in the next series of posts, I plan an attempt to present you the entire market of a Product category at your finger tips, based on different application scenarios. The attempt is to enable you with the entire range of key specifications available in the market to make your selection process easier based on your application and giving you an estimate of what is available in the market for a specific product category.
This is also sequential to the series of articles presented towards Consumer Electronics Buying Considerations. Last but not the least, Thank you for your response on the articles published so far on Consumer Electronics.
So what do you think. Leave your thoughts below & Stay tuned..