15 and 17 inch Multimedia LCD TVs: A Comparison
In the case of comparing a 15 inch multimedia LCD TV system with that of a 17 inch one for the purposes of deciding product continuity, one of the most important factors to be considered is its appeal to the buying public. In this case, the scenario is such that the 15 inch model is quickly losing favor with many customers, while its counterpart is enjoying a rise in sales, buoyed by excellent reviews of the product.
Given the options available, I would have to say that two plans of action are equally desirable in dealing with the situation. The first would be to modify the product’s (15 inch LCD) features, styling or performance. It is entirely possible that the reason lesser customers are buying the product is merely because of a physical attribute.
Perhaps customers no longer find it modern or state of the art in terms of the overall “look and feel.” Maybe its technical capabilities are easily dwarfed by the competition. Either way, modifying or “tweaking” the product’s attributes could bring about renewed interest among potential buyers.
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However, another option would be to simply discontinue the 15 inch model and focus solely on the 17 inch one. After all, why stick with a losing product? Eventually, profits coming from other areas would only be overshadowed by production and operational costs of this product. By discontinuing it entirely, even more people may become amenable to purchasing the 17 inch model, thus reducing company expenditures while maximizing profit.
Nevertheless, in the world of business, only one option must be chosen and this choice almost always involves considerable risk. For this situation, I would have to go with choosing option one first, before doing the second. I would first see if a revitalization of the 15 inch product would change the way customers see it and subsequently cause renewed interest. If it still fails, then a discontinuation would be in order. This way, I can say with certainty that all viable avenues of decision were considered and exhausted before giving up on the product entirely.
References
Kotler, P. & Armstrong, G. (2005). Principles of Marketing. Prentice Hall: 11th ed.
Hill, C. & Jones, G. (2006). Strategic Management Theory: An Integrated Approach.
Houghton Mifflin Company: 7th ed.
Miller, W. (2001). Proactive Sales Management: How to Lead, Motivate and Stay Ahead of
the Game. Broadway, New York: American Management Association
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