The Marketing Strategies Applied in Southeast Asia Display Market

Marketing is a process by which companies create value for customers and build strong customer relationships to capture value from customers in return. In the consideration that LED Display market is built, in most cases, between B2B, the core conception of marketing is to create value for other business partners, and in return, they create profit for us. This is a win-win relationship. And to achieve and maintain this relationship is never easy, we should figure out how this functions with the start of market analysis.
Generally speaking, the LED Display market in Southeast Asia is worth potentially developing. But this case is just like a coin; it has two sides, the higher the potential in this market, the fiercer the competition could be. Based on four types of market environment as the following graph:

In terms of LED Display Market in Southeast Asia, LEDMAN could still be situated in Market penetration period, since LED Display market has existed for years, some competitors has taken the majority in many Southeast Asian countries, for example, Thailand. According to the statistics from 2014, the market share of ABSEN in Thailand has already reached nearly 40 percent, so it is of great significance that LEDMAN should take some measures to get higher market share in this much profitable area. As the graph suggests, the first step is to enrich the category of products, this step is to create market niche, and gradually take more market share.
In Marketing, products are categorized into four sections, generally speaking, the LED Display business is at the stage of Stars, that is high-growth, high-share businesses or products requiring heavy investment to finance rapid growth, nevertheless, if we can take the Southeast Asian market back by the original design of products, the market share will be promoted, and the LED Display business would eventually turn into cash cows, which are low-growth, high-share businesses or products that are established and successful SBUs requiring less investment to maintain market share. And that attributes to the maintenance of long-term cooperation relationships.

The building and maintenance of long-term cooperation, however, should be based on several strategies:
One is localization; one part of localization is to make the display products localize to the environment of Southeast Asia. In the perspective of sale itself, the first thing is to realize the cultural differences and then respect them, which is vital to the first-time impression. For example, the deed that LEDMAN chose to play local folk songs to the Portuguese guests instead of national anthem has pleased the guests far away from their homeland. In the other perspective, to be local is to produce products with high quality, so that the products can still be functional in spite of the humidity and hotness in tropical Southeast Asia. The other part of localization is that sales persons should always take the policy merits to sell the products, for example, the development of ASEAN, and the tax incentives by several countries should be taken use of, since that promotes opportunities to the LED Display sales.
The other one is globalization. To be in Southeast Asia, we have to get rid of old thoughts, to think globally. Thus the whole-picture vision can be acquired, and we have to face the changes and embrace them. As a LEDMAN, the vision should be global, to meet different customers from various areas. Even inside the Southeast Asia, the experience effective in Thailand does not necessarily work in other Southeast Asian countries, let alone this division contains South Asian countries, where there might be even more differences and challenges.