Consumer Behavior on Panasonic

Topics: Digital single-lens reflex camera, Camera, Digital camera Pages: 8 (2513 words) Published: April 14, 2013
1. Executive summary
Panasonic is the long-established brand for household appliance with its headquarters in Japan with a mission achieving “Always making people central to our activities and thereby focusing on people's lives”. Their camera brand, Lumix, ranging from pocket point-and-shoot models to digital SLRs with most popular model included DMC-GF1. With increasing competition and consecutive loss since financial year 2010, the company proposed structural change in market development to rebound . Objectives

In regard of aggressive competition in the camera market, our team had launched a research to observe their performance in the camera market as an assessment to their reform. Data Analysis are completed and we would propose further recommendation according to our findings. Findings & Recommendation

Our research focused on the Hong Kong segment, specifically examining users of interchangeable lens camera. After the interview with 5 consumers, we identified the five most important attributes are Styling, Durability, Image Quality, Popularity and Photo edition effects. We launched our survey online. Based on different lifestyle and purchasing behaviors within the group, we have therefore divided into two segments – segment A is age < 30 and segment B is age (30-45). From our survey data, results of large variance in Style, Appearance, Popularity and Durability evaluation of Panasonic and the competitor, Olympus is evident. From our data analysis, we proposed suggestions customized for both segment under the process of Brand Rrejuvenalization. For the youth segment, we would re-position our brand as functionality co-exist with new elements in every new product line. We would focus on the social media communication and photo-editing function inside the camera in marketing strategies. In view of the demand of older age group (>30 yrs. old) for high durability and photo quality, we would then emphasize on cross-selling strategies and consumer communication. Under synergy effect, we hope that we could re-position our brand as trendy, multi-functional and durable in the market. 2. Introduction

In 2001, Panasonic has launched a sub-brand–Lumix and enjoyed success in the mainstream compact camera market. To fulfill the company’s mission, Panasonic has perpetually seeking for breakthrough and expand their business by take part in the interchangeable lens market and be the pioneer of launching the mirrorless cameras. In Hong Kong, Panasonic-Lumix and Olympus have established a strong presence in the mirrorless cameras market and became the most significant competitors in this market. According to GfK data (Appendix 2.1), the market share of Panasonic-Lumix stands at about 10 percent, relatively lower than its competitors. 3. Methodology

3.1 Research Method
To investigate consumer’s attitude and lifestyle attribute on Panasonic Cameras, we invited 5 people to conduct an interview separately. Through observation and analysis, the 5 attributes that consumers consider are important are: Brand popularity, Appearance (Style & Attractiveness), Image quality, Image edition effect, and Durability. We then divided the respondents by age segmentation to reveal better significant differences in regards to life style, behaviors, purchasing power and perceptions. Values, needs and goals always affect customers’ motivations to purchase a product. Motivations is affected when consumers regard the elements of product as personal relevance which comprises self-concept, values, needs, goals, emotion and self-control. Also, perceived risks and acquired attitudes are concerned. Two distinct segments were picked: 1) Young Segment: Respondents less than or equal to 30 years old 2) Mature Segment: Respondents between 30 to 45 years old. First, the participants in our survey over 30 years old are more family-oriented. Most of the mature customers are loyal to Panasonic due to its good reputations and good previous user-experiences. Second, we...
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