In the last decade, a rise has been observed in the sale of the television set due to the continued innovation of more digital and flat screen devices. The best home appliance industry for investment would, therefore, be the TV set business as people would continue to buy such devices to replace the older one.
There are some reasons why injecting money into TV set sales business would likely be profitable for an entrepreneur as discussed. First is that to keep up with the internet age, television manufacturer has invented modern technology that incorporates the internet on the set. This has been as a response to online viewership on sites like Netflix and Hulu. It is, therefore, safe to invest in TV set sales without fear of online sites as modern technology enables people to watch on their gadget set. Second reason for injecting money into Television set business is the increased competition among manufacturer that increase the affordable of the device to most of the people (Serio et al. 223). The increase in ownership of TV set is due to the affordability which in this case would increase sales and profit to the business as people would buy the latest version. Lastly, television set business is good since the industry continues to evolve meaning that whenever a latest model comes in the market, consumers would buy such to replace the older model. An example here is the increase adoption of 4K TV that entered the market recently and consumers continue to purchase the set (Hinz & Ju-Young 632).
The best type of product that I would develop in TV set sales is shopping products. Reason for this is due to a quality comparison between the numerous existing items from different manufacturers (Shao 14). A consumer would, therefore, buy what he or she feels is the best for their price. Shopping product is also good for buying the latest and best TV set.
Works Cited
Hinz, Oliver, Shawndra Hill, and Ju-Young Kim. "Tv’S Dirty Little Secret: The Negative Effect Of Popular Tv On Online Auction Sales." MIS Quarterly 40.3 (2016): 623-AAAA4. Business Source Complete. Web. 13 Jan. 2017.
Serio, Luiz Carlos Di, et al. "Strategic Outsourcing? The Philips Case In The LCD TV Market." Journal Of Technology Management & Innovation 6.2 (2011): 218-229. Business Source Complete. Web. 13 Jan. 2017.
Shao, Xiao-Feng. "Product Differentiation Design Under Sequential Consumer Choice Process." International Journal Of Production Research 53.8 (2015): 2342-2364. Business Source Complete. Web. 13 Jan. 2017.
