8.1 Market Analysis
BenQ is being a trendsetter in IT industry for introducing world-class innovative products at affordable cost has always endeavored to maintain an outstanding market share in worldwide. However in Malaysia, the sales market does not seem as good as what it does in the worldwide. Hence, In order to figure out the reasons, a survey is conducted by our group to target on 50 students and employees within the Klang Valley to study the perception of consumers towards BenQ LCD Monitor, to observe the LCD Monitor’s market and to analyze the consumer’s purchasing behavior for LCD Monitors.
8.1.1 Demographics
As the results from the 50 respondents, it showed that the target market for LCD Monitors majority categorize in the age range from aged 18-24 consists 76% which are 38 respondents. 48 of them are Chinese which consist of 96% from the overall percentage. Most of them are male’s consumer which occupy the 52% percent compare to female. 17% of the consumers come from KL area. Surely this is a great opportunity and convenient for them to purchase a LCD Monitor at the Malaysia well-known digital center – Low Yat. Never the less, we are informed in this finding that 64% of the users have reached the tertiary education qualification. Hence, students are the most among the employees and employers, its take up about 64% of LCD Monitors user. Because of the majority users are students, 22 of them have the monthly income range of below RM500. However, they are still affordable to purchase a highest specification LCD Monitor at the lowest price.
8.1.2 Psychographics
Demographics analysis is important in understanding the background of our targeted audiences whereas psychographics analysis is conducted to be more comprehended on the external factors of influencing on the consumer’s buying behavior. From the similar survey, half of them are willing to spend a lot of money in buying the computer and peripherals. Almost all of them have own their personal computer monitors. Although LCD has becomes the latest trend in display industry, however 16% of the computer users still using the old and outdated model of CRT monitors. This happened mostly can be assumed that the LCD might not satisfy them in terms of color clarification. Concerning back to those who are using the LCD monitors, we found that video watching becomes the popular usage of LCD monitor follow by the design purposes and photography editing. Majority of the consumers nowadays conscious and care about the brand when choosing a brand for the computer monitor. Most of them own the Acer brand of their monitor as the motive of reasonable price. Although Acer has the most users, but consumers still rate the Samsung and LG as their favorite brand among all. The factors that drive their decision to choose their preferable LCD monitor is appearance follow by the price and brand image. The final question in the survey result also pointed out the alternative choice for the consumers instead of computer monitor, 96% of them have chosen LCD TV.
8.1.3 BenQ LCD Monitor
BenQ has been singled out as one of the world's top performing IT companies. Still, 11 out of the 50 respondents are even never heard of BenQ before. For those who know about BenQ, the biggest information sources are coming from the “word-of-mouth” of their friends and family. Although beyond the half of the respondents be familiar with BenQ, but not everyone be acquainted with the manufactured of LCD monitors by BenQ corporate. Many of them still perceived BenQ as the “Made in Taiwan” country-of-origin adverse brand. Fortunately, there are still part of the consumers recognized BenQ as the IT company who introducing the world-class innovative products at the affordable cost. Thus, they agree consistency that the best promotional method for BenQ LCD Monitor should be sale promotions.
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