Report on Digital Camera for Nikon Corporation|
Part 1 of the report is the research which is aiming to identify the current product, new trends in the digital camera market. After examining the market, in part 2, a marketing plan is introduced for Nikon Corporation, including new product’s position, segmentation criteria, targeting strategy, distribution and promotion.|
List of contains
Part 1 - Market ResearchPage
1. Current types of cameras in digital camera market3 2. Aimed customers4
3. Cameras design7
4. New trend in digital camera market8
Part 2 – Marketing Plan
1. Cameras’ position9
2. Segmentation criteria10
3. Targeting strategy 11
4. Cameras development 12
6. Promotional mix elements15
List of diagrams
1. Diagram 2.1 Cameras’ position9
2. Diagram 5.1: Distribution14
Part 1 - Market Research
Thanks to the improvement of technology, digital cameras have a wide variety of products and can be produced easily nowadays. According to BBC Research (2008), the global market for digital photography increased from $131.4 billion in 2007 to an estimated $149.2 billion in 2008 and will reach $222.2 billion in 2013. There are currently many digital camera brand including Canon, Pentax, Sony, Panasonic... Although Nikon Corporation is one of the most well-known brands in digital camera market, our company always needs to develop continuously the products to competitive with other brands. This report carried out extensive research into digital camera market and introduced a marketing plan for the company.
1. Current types of cameras in digital camera market
This report will look at some of the most popular types categorized by Digicamhelp (2012) and Fujifilm (2012), which are: * Point-and-shoot cameras: They are small and compact cameras which usually fit in the pocket. They are the cheapest and easiest-to-use cameras. * Bridge cameras: They are higher-end and bigger bridge cameras, compared to point-and-shoot cameras. They resemble professional cameras and share with them some bridge features. * DSLR (Digital single lens reflex) cameras: They are usually bigger and have more features than the bridge cameras. * Outdoor cameras: They can be compact or bridge cameras designed for outdoor purposes. * Stylish cameras: This type of camera has colours, shapes and functions which are more personalised and suit with different characteristics of customers. * 3D cameras: Have 2 lenses in order to take 3D photos, which give depth perception to the viewers. * Mirrorless interchangeable lens: They can also change lenses like DSLR cameras but they have a significant smaller shape than DSLR. 2. Aimed customers
* Point-and-shoot cameras: Designed for customers who do not know or care much about photography. They use cameras to have fun, to keep their family’s memories, holidays and social events photos. Most of them do not have the ability to learn photography, therefore, they require as much easy to use as possible. They (or their parents) also do not want to invest in cameras and likely to buy a cheap one.
Age| Income| Social status| Lifestyle| Family status| Spending patterns| 5-15 and Over 30| No or lower group incomes| C1, C2, D, E| Variable| BachelorFull nest I, II, III Empty nest I, IISolitary survivor II| Low| Table 2.1: Point-and-shoot cameras’ customers
* Bridge cameras: Some people may interest in photography and enthuse about learning it. They are not satisfied with a point-and-shoot one and need to control the camera manually and creativity. However, they cannot afford a professional camera, which is very...