EXECUTIVE SUMMARY
1. INTRODUCTION
2. Situation Analysis 2.1 Industry Analysis 2.2 Sales Analysis 2.3 Competitive Analysis 2.4 Customer Analysis 2.5 SWOT Analysis 2.6 Macro Environmental Analysis
3. Canon Hybrid DSLR Features 3.1 Introduction to the new product 3.2 Marketing objectives
4. Market Segmentation 4.1Consumer Market Segmentation 4.2 Marketing mix 4.2.1Product 4.2.2 Pricing Strategy 4.2.3 Distribution Strategy 4.2.4Promotional Strategy
5. Financial information 5.1 Budget 5.2 Sales Projections
6. Reference
7. Appendix
Executive Summary
The corporate objective is to make Canon a truly excellent company that is admired and respected
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Identify the main characteristics that differentiate firms in the industry. 2. Draw a 2-axis map with 1 differentiating characteristic per axis. 3. Plot the competitors on the map. 4. Group competitors that fall in the same region by encircling them. The size of the circle should be proportionate to the group’s total market share. OR Encircle individual competitors. The size of the circle should be proportionate to that company’s relative market share. 2.4 Customer Analysis 2.4.1 Segmentation Dimensions
We segment our target market mainly according to the following dimensions: Demographics Psychographics Behavioral Nature of relationship with customers
2.4.2 Forecasted Changes
1. People tend to pursue digital cameras with many functions, not only shooting one. 2. Target market’s buying behavior is mostly determined by their disposable income, which concerned with economy. 3. Target consumers of consumption cameras will become rarely to use their digital camera. On the one hand, their telephones also have the shooting function; on the other hand, they may have less time to enjoy and record their life, because more time will be spent on their jobs.
2.5 SWOT Analysis
Strengths:
•Established Brand Name
•Worldwide Brand
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Target market for hybrid is a Canon digital SLR camera's existing consumer market of digital SLR camera, the Canon company has sold 10 million from 2003 SLR cameras and digital SLR 500000 Britain in 2009 (2009) press release: Canon 1 UK. The product characteristics and innovation will prompt them with the new upgrade their products, help for existing customers and attract new customers. 4.1 Consumer Market Segmentation
This market segmentation of this product is done on the basis of variety of information e.g. in geographic sense UK has been selected, where Canon has its offices in London, Birmingham, Livingston, Belfast and Surrey making it easy to launch and manage the product, secondly UK has strong distribution channel which can be easily use to launch the product in UK and across the Europe. If we talk about geographically this camera is targeting all age groups over 18 its price is reasonable £499, which is easily accessible to all income groups as well, if we analyze the prices of DSLR EOS Kiss X3 and D70 the most sold with 11.5 % and 13% (source: BCN 2010) their price range was targeted to average class. Majority of the sale to every business is from this income group. UK people showed strong interest in Canon HD camcorder, which was 51%. The Canon Hybrid camera has feature of
Their committing strategy to provide excellence in customer service and deliver quality products has brought them leading market share in the industry. Konica is providing them with quality products at competitive prices enable them competition within the market along big names like Xerox, Sharp and Canon. Customers base their purchase primarily on service and dealer reputation and Daytun's commitment to these factors has helped them grow in the market. The industry is maturing and future growth opportunity within London is under question. Competitors are aiming to increase market share through aggressive pricing, which can, consequently affect Daytun's sales (See Exhibit 2).
Nevertheless, it must “defend” its current market share if not increase it, by maintaining premium quality and develop innovative products. The marketing mix strategies will effectively achieve targeted revenue and profitability in the near future.
The company is also leading the way in innovativeness and has already received recognition for introducing innovative products. This is one of the strengths of the company since innovative products will help to differentiate its products from the other competitor products as well as the new products can be exclusively branded as compared to the other flagship products from older Soviet times.
With camera equipment simultaneously rising in capabilities and dropping in prices, it means more and more photographers have been able to make the leap from enthusiast to professional. For those already established in the industry, they might resent the added
Hornady has teamed up with the manufacturing prowess of the Lake City Army Ammunition plant to offer military grade ammunition at an economical price. Frontier Cartridges are manufactured at the Missouri facility and are tipped with Hornady bullets.
Custom Chip, Inc case describes the situation of a company where lack of coordination and cooperation among different departments is hindering them to achieve their common or ultimate goal as a single business entity. Applications engineering, product engineering and manufacturing are all inclined towards achieving their individual objectives and timelines rather than collaborating and synergizing their efforts in order to attain a common goal of effective production with improved cost reduction. Few of the primary reasons are insufficient and unorganized company policies for coordination and cooperation, poor networking with in the organization especially on management level, lack of communication and influence among managers and VPs, insufficient human resource, and measuring a department's effectiveness solely on its performance based on individual objectives, rather than checking its effects on over all company's performance.
This report comprises of the explanation of two different companies working in different market fields, the two companies I’ve chosen are Primark and Samsung I am going to write about the influence of the 4vs which are the volume of output, variation in demand for output, visibility of production, and variety of output. I am also going to look at the performance objectives in each of the companies. Example, for a given year and how they are able to reach their objectives, and also the effect on the cost efficiency of the operations.
However, this vision generates an overlapping problem between the marketing department and the product development department. The marketing department, among other duties, is responsible for the identification of new opportunities and also to assure the development of new products. Unless these activities are extremely well coordinated with the product development department, there will be misalignment in the strategy of the EPD. Ultimately, this misalignment will affect a third department, i.e. the manufacturing department, since it is directly involved in the product development process.
As a multinational, Xerox specializes in technology and services and operates under two different market environments, the macro and microenvironment. In the microenvironment, the company has influence while in the macro-environment the company cannot make market changes.
This work will determine the baseline of the current market situation for the company, which is essential for any further exercise and analysis. To understand how the business model correlates with the product marketing, need to see if there is any evident cause-effect relationship between product characteristics and the nature of the product company. If such correlation exists, it will be important to see the transition of such characteristics into the company marketing strategy. It can show how company’s strategies can be successfully addressed in a real-world scenario. Both internal and external analysis, SWOT matrix will help to determine the company’s current market position.
emerging or new market. It can originate from new technology or new market opportunities (Eliashberg, J., Lilien, G. L., & Rao, V. R. 1997). Literature defines product development as exploiting an untapped market opportunity and turning it into a value product for customer satisfaction. Development and introduction of a new product requires extensive research on understanding customer needs, market structure, emerging trends and analysing the internal & external competitive market environments. To evaluate customer satisfaction previous researches provide strong relationship between customer satisfaction and product quality, product features and value for money. ***
It is inevitable that there is some challenges in the sector of photography industry in the future and
· Technology- GoPro has been able to produce a digital waterproof camera which is relatively advanced compared to others
There are many elements affecting to the success of a launching. The basic factor is to develop product that satisfies consumers’ demands and maintain the brand promise. However, consumers are not only looking for the quality of product but also concerning about the price, the promotion and so on.
The market is not ready yet for more product lines even though the economy is growing because the purchasing power is not that strong compared with the ones in South America. Therefore there is not yet profit to gain by di...