Marketing analyses in the Computer and Electronics Retail Industry

Mobile computation devices and electronics in general are becoming necessities found in nearly every household, largely regardless of average annual income per household. The main surge in electronics retail in the consumer electronics segment came in the years 2007-09 and have since seen an upward spiral that is unheard of in an industry of this size and scale. Unsurprisingly, the retail segment of the industry was quick to ride this wave, as numerous electronics and mobile computation retailers came into existence shortly afterwards. Retailers that operate on an international scale have reached such momentum in terms of annual revenues and volume of sales that they are now one of the top few contributors to their respective country’s Gross Domestic Product. This segment of consumer retail, although relatively young, shows a promising level of growth in the near future as the demand as well as affordability for consumer electronics is only expected to rise. 

Analysts for retail firms conduct marketing surveys to better understand the target audience and the intricacies of the markets they operate in. This is done to, more fruitfully, exploit the changing trends and consumer tastes to each retailers own benefit. Marketing data for such firms is generally pointed towards moderate to high income families, normally having two income generators and one or more children. Such families are also associated with having a broadband internet connection and multiple computation devices; at least one to each member of the household. Retail firms also look at single member households that normally consist of one or two members, usually unrelated professionals that have larger budgets dedicated to consumer electronics purchasing. 70% of such households have broadband internet connections. The inherent importance of owning a broadband internet connection to the survey is that there is intrinsic demand in the household for modern computation devices in order to keep up with the times, as is the penchant with members of the younger generation. The marketing strategy for most of these computer and electronics retail firms is to center their advertisement and marketing strategies towards such individuals and households as these are the ones that contribute the most to the survival and success of these firms. Normally, the advertisements are internet centric and print media is not used as frequently since online content is preferred by the younger generation. Advertisement and analyses are also subjected towards large scale firms, or in other words, the employers of the aforementioned professionals. Such firms account for the majority of computer and electronics sales made in bulk. Orders such as these are often carried out under contractual terms that grant one retailer or supplier exclusive rights to cater to all the computational and electronic needs of a particular firm. If secured, contracts of this nature prove to be highly beneficial for the retailer. The central idea of advertising campaigns is to generate brand awareness among the general population regarding the unique aspects of the company’s products and the various competitive advantages it may have over other, competing products. The major example of such industry is DANAHER stock. 

Recent developments in the tech industry also greatly affect the retail sector. To the observant individual, they may serve as indicators of future trends and changes in demand, supply or prices; they may even grant an idea of which products to stock and which to clear out in order to make the most profit and incur the least amount of loss. The seasonal launch of new devices, particularly in the handheld phones and tablets as well as the laptop divisions of the tech industry serve as milestones for the changing landscape of consumer demand. Retailers stock more of the product that offers more promise in the form of greater sales. This is judged by the particular product’s predecessors or the company’s track record. There are other ways to forecast demand for upcoming or new products such as analysis of competing products as well as current consumer trends and how well the product in question will fit into those trends. These, among others are put into use when determining which particular products the retailer should stock and which should be avoided.