Tweet

Do you Want to be a Market Leader?

Guest post by: Rebel Brown

Article Overview: What did I just say? Don't fret, I didn't lose my mind or go off the deep end. I still believe that the best way to be a market leader is to plot your own course. But sometimes a successful course doesn't follow traditional thinking.

Do you Want to be a Market Leader?

What did I just say?

Don't fret, I didn't lose my mind or go off the deep end. I still believe that the best way to be a market leader is to plot your own course. But sometimes a successful course doesn't follow traditional thinking.

Here's a great example of a company doing just that. Vizio is well known to all of us. They produce those fabulous flat-panel TVs that made high quality viewing affordable for many of us. We can thank Vizio's "following" strategy for the decline in prices on flat panels.

Vizio's strategy is simple. Provide high-quality and innovative products that are affordable for the masses. That's exactly what they did with televisions. They let other vendors create and define the market (and spend those marketing dollars), and then they entered the market with high quality, feature packed televisions - at a dramatically reduced price point. And that strategy worked. Vizio reported $2.5 billion in revenue for 2009, up from $142 million posted in 2005. Today they are the number one vendor in flat-panel televisions - with only 300 employees. Yep - you read that right.

This week Vizio is announcing their new smart phone and tablet device. Once again they've let others create the market, and now they're stepping in with innovative and well priced products. And this time they have an even bigger advantage - a loyal set of retailer and all those happy customers who bought their televisions.

Key to Vizio's innovation is to use the internet to connect Visio televisions, tablets and phones as a seamless set of devices. Check these ideas:

• Consistency of use. Taking a lead from Apple's playbook, users will access the new tablet and phone in exactly the same way they access their TV sets.

• Seamless integration. Both the the tablet and phone feature HDMI, so you can display videos you shoot or collect on a larger TV screen. The phone and tablet will be usable as remote controls for other consumer-electronics devices, including all Vizio products.

• Seamless Service All Viso products devices come with access to Vizio's Via Plus Internet service. That gives users seamless access to services from Visio partners including Netflix downloads, Facebook and Twitter as well as the Android platform of applications.

• Vizio on Demand. Now we're really getting into some innovation. Imagine beginning a movie or game or anything on your tv - then swicthing to your tablet or phone and taking it on the road (or to bed) to finish. That's what you get and - and I guarantee there's more to come from this service!

Vizio is a smart follower. They sit back and learn from their competitors and from their markets. then they create products that take advantage of all their competitors market creation dollars - while delivering solutions that meet and exceed the needs of customers.

That's a pretty smart Zero Gravity strategy if you ask me! It's surely a whole new way of thinking about being a follower - and a market leader.

BTW - Apple does the same thing quite often - just look at the iPod and the iPhone :)

Related Articles
  LEADERSHIP: AUTOGRAPH YOUR WORK WITH EXCELLENCE
  Don't Search For A Great Sales Leader - Look For The Right One
  INVENTORIES CAN BE MANAGE BUT PEOPLE SHOULD BE LEAD.
  The Qualities that Hire Leaders
  Internet Home Based Business - What To Look For In A Quality Leader
  LEADERS AUTOGRAPH WORK WITH EXCELLENCE.
  How To Become A Leader.
  What does a good leader need or look like
  How To Be A Fearless Leader
  Maturity in the attitude of the business leader
  Market Value is Not Determined by Wall Street
  Being a Business Leader
  10 Leadership Tips for Lawyers
  Leadership-Its in Everyone of Us!
  The Art of Influencing and Empowering Others
  LEADERSHIP IS THE ONLY WAY.
  Ethical Leadership Develops Moral Communities
  Leaders live in a new orbit at every 9 years.:
  Enough Already.....Are You a Leader or a Follower?
  Leaders can’t afford to make mistakes

Article Tags: competitors market, market creation dollars, market leader, vizio, vizio products



Related Forum Posts
Re: My 200 post - Well GT, You done it again, The Leader and now you have 1003 post, wow. Michelle and Trent, you are a winners too. WTG friends, you are an inspiration.
Re: How should i promote a new website? - ignore this message IF it's already been stated. I haven't had a chance to read all the replies and i have to jet from the office... I suggest marketing where ever your Target Market congregates. If it's a forum of concerned parents - go there. Strike up a deal with the forum owner (JV) and have him promote it to the list of members (Integration Marketing). If you want to go with Forums then i would partner with a parent who is a frequent poster/moderator on a particular Target Market Forum and have him/her add your link to their signature. That was just a thought but it's not as intense once you get buy in from the Forum owner or high ranked poster/moderator. Hope that sparks some new ideas.
Re: Ideas For Business - Hello Lucy, you may consider this list for Ideas for Business: (Top 23 list) Rank Company 1 Google 2 Genentech 3 Wegmans Food Markets 4 Container Store 5 Whole Foods Market 6 Network Appliance 7 S.C. Johnson & Son 8 Boston Consulting Grp. 9 Methodist Hospital Sys. 10 W.L. Gore & Associates 11 Cisco Systems 12 David Weekley Homes 13 Nugget Market 14 Qualcomm 15 American Century Invest. 16 Starbucks Coffee 17 Quicken Loans 18 Station Casinos 19 Alston & Bird 20 QuikTrip 21 Griffin Hospital 22 Valero Energy 23 Vision Service Plan
Re: Do Women Play the Stock Market? - I also play Stock Market.....
Blank text field might be better - Hi TheAnonymousMan, I like your idea! I'm assuming it would be similar to the status feature on Facebook where it might say "Kevin is ... " So I think having a blank text field in the profile box (and even "Leader" boxes on the left and top side of the forums if possible) might be more fun than just choosing from pre-set options from a drop down menu:D


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Web Design in 30 Minutes - Can this be Right?

Maximum Impact Restaurant Greening

If I Were Starting A Network Marketing Company...

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.