New large screen TV vendor Vizio has slashed the price of its 50″ Plasma TV to an RRP of $5,480. The move comes as the Company is about to launch a new range of HDD LCD TV’s. Vizio who only sell through the specialist channel claim that the move will stimulate sales.
The brand is currently being extensively marketed via publications like Men’s Health, SmartHouse Magazine, SmartHouse Online, massive point of sale posters at airports and key downtown locations as well Home Beautiful and Empire a move that Vizio say is critical in building the brand while also driving traffic into retail stores.
A recent SmartHouse survey shows that Vizio is significantly out spending the likes of NEC, Grundig, Pioneer, Mitsubishi and other major large screen TV players in the market who traditionally choose the tail end of the year to role out advertising. Adrian Chespy General Manager at Vizio told SHN that “over the past months we have worked closely with the specialist channel to find out exactly what they want from Vizio. We have listened to many criticisms on why the specialist channel is struggling up against the mass retailers”.
“What we are attempting to do is deliver for this channel a range of TV screens that deliver high margin and great performance for their customers and we hope our new pricing strategy along with our specialist focused advertising demonstrates to them and the consumer that there is an alternative to mass retail where they can be comfortable in the knowledge that they are getting not only the best deal but the correct information and solution for their requirements”.
He added “Vizio is committed to the specialist channel and our current marketing campaign is just the start. We are an organisation who are delivering new vigour and growth opportunities it is now up to the channel to capitalise on the marketing that we have put into place to gain sales”.
He also said that during the next few months ViZio will move to TV with a major campaign. He confirmed that Vizio is now offering 5 year warranty and Free in Home Installation and that shortly they will be shipping new 37″ and 32″ HD LCD’s at highly competitive prices. He also confirmed claims that Vizio is looking at moving 15,000 units by June 1, when Vizio will launch TV advertising. He also confirmed that Vizio will be launching an Australian specced HD STB as well as a 240GB PVR that is set to sourced from a third party vendor but branded Vizio.