Technology and Business: Solving a Business Problem Through the Use of Technology

Business Problem Statement:

No matter how new Organic Light Emitting Diode (OLED) TV is to the world, the company has to think of product commercialization in two sets of decisions: Strategic and Tactical launch decision. Strategic launch decision includes both strategic platforms that set overall tones and directions and strategic action decisions that define to whom we are going to sell and how.

Although HDTV is not new to the market, the OLED technology is new and has revolutionized the HD technology. The goal of the strategic platform decision is to develop an entry strategy with an emphasis on stimulating the demand for the OLED TV. With an emphasis on the competitive advantages, this will give us an advantage to move into the HDTV market. This will help customers to see the benefits of owning an OLED TV over other brand of HDTV. With an aggressive entry into the market, it will help us to gain early market share. To support our aggressive entry we will implement a marketing strategy that will reach a broad target market. The OLED TV will offer new benefits over the present HDTV technology to its customers. Here are a few of the benefits / advantages of the OLED TV over the current HDTV technology.

 Less power consumption

 Sharper image and higher contrast

 Faster response time

 Thinner which require less cabinet space

 More attractive

With these competitive advantages, it makes it an easier decision to purchase the OLED TV for your home or office. I know the cost might be an obstacle for some people now because of the new technology. However, like any other new technology, the cost is usually higher when first introduced to the general public. The price will reduce over the years which will make it more affordable. "However, this first wave of OLED displays did not become popular because of the overly high price compared to current LCD and LED display technologies" (Page, 2012). As evidence, when the OLED TV was first introduced to the market in 2007, the price was exorbitant. Due to the complexity of the market, it is important for us to define our target market. Our focus to our target market will be to express the benefits the OLED TV has to offer over the other HDTV technology. In our product description, we were clear to identify some of the key benefits of the OLED TV. With the need for thinner HD TV, we are now seeing the evolution of the OLED technology. Some of the benefits of the OLED TV are that they have thinner screens, higher contrast ratio, and faster response time. Therefore, it will produce the sharper image as stated above. Also, the size will require less cabinet space which saves on money in other areas. The fact that it uses less power consumption, it will also save on energy bill. With the rising cost of energy bill, this will be a welcome benefit of the OLED TVS.

"The move from projection and CRT TVs to LCD and plasma TVs saved home theater lovers lots of space in their homes and the thinner sets looked much more attractive as well. The next big change in HDTV sets will come in the form of OLED TVs. The benefits of OLED technology in TVs are thinner screens and higher contrast ratios along with faster response times. OLED technology requires no backlighting, which allows for the much thinner cabinet sizes." (Tonberry, D., 2007). Our original target market will be any household that currently owns a HDTV. With well-defined target markets, the company will utilize a mix of promotional strategies to get the message out. These promotional techniques include:

 Personal selling in the stores.

 Direct advertising (including web banner advertising)

 Media advertising

 Public relations and free publicity

"The technology is co-researched by GE, Sony, and other companies. However, the technology was first discovered by Kodak. OLED technology was first developed at Eastman Kodak Company by Dr. Ching W. Tang using small molecules" (Wikepedia, 2008). "Based on organic light emitting diode (OLED) technology, this product offers brighter, more vivid pictures while using less power than a regular TV. The best part is that OLED technology allows for a super thin and sleek package, proving that sustainability can be sexy - even in consumer electronics" (Kriscenski , A, 2008). This is proof that the packaging of the OLED TV will be more attractive to consumers which will promote sales. Packaging is essential