Comparative Analysis of Marketing for Nikon

Comparative Analysis of Marketing for Nikon 1. Introduction 1.1 Background With the remarkable improvement of peoples living standard, cameras have become necessities, and owing to their affordable price, many own cameras. Undoubtedly, cameras provide an easy way to record every occasion. There are multiple kinds of cameras can be found everywhere. However, different cameras are designed for a variety of areas and specific purposes. For instance, single lens reflex cameras are designed for amateurs. Nikon and Canon are both worldwide well-known camera producers, whose products are functional, well-designed, and widely used. (Canon, 2010 e) (Nikon, 2010 f) Nikon with its slogan at the heart of the image, is well-known not only for its advanced technology, but for its trustable quality (Nikon, 2010 a). On the other hand, Canon is a celebrated camera producer and now is a global corporation. Its purpose is to be used all over the world (Canon, 2010 a). 1.2 Theory 1.2.1 Market mix Marketing mix, which is described as the 4Ps as well, is the combination of product, promotion, place and price. Related to segmentation, the marketing strategies are usually used on customers in market, with an aim to satisfy their needs and wants, therefore generating profit (Hall D. et al, 2008:75). 1.2.2 Segmentation Market Segmentation is the division of customers according to their individualities. By market segmenting, companies focus on assured groups of consumers and use particular marketing strategies (Hall D. et al, 2008:66). 1.3 Aims The goals of this report are to analyze how the same grade cameras Nikon D90 and Canon 50D make up their marketing mix (product, promotion, place and price) for the products to obtain good sales in China. In addition, the report will illustrate the targeted segments of Canon 50D and Nikon D90. 2. Findings regarding Nikon D90 and Canon 50D 2.1 Product Gillespie (2007:29) mentions that a product can be identified on three major levels namely, core, tangibility and augmentation. Fundamentally, utility and design are the most notable factor for Single-lens reflex cameras to attract clients. A further important issue is after-sales service which must be considered as well. 2.1.1 Product of Nikon D90 Nikon D90 requires a CMOS with 12.3 million effective pixels and the selling point of D90 is its recording function. Its weight is merely 622g, as its body is made of quality plastic. This design makes it feel tout and appressed, it is therefore easier to hold (Dprview, 2010 a). Furthermore, although most companies provide after-sales service, it always takes a long time for repair. Nikon (2010 b) states that, they understand the importance of the products to customers. Therefore, they have been taking great efforts to accelerate after-sales service. 2.1.2 Product of Canon 50D From the other side, Canon 50D is also a successful Single-lens reflex camera. Its selling point is 15.1 million effective pixels. The weight of 50D is 822g since it is made of iron (Dprview, 2010 b). In order to provide immediate and trustworthy supports, Canon gives out the description of 50D and its instruction in the Chinese market. The company emphasizes that After-sales service that ensures safe use of products over a long term is vital to maintaining customers trust in the Canon brand (Canon, 2010 b). 2.1.3 The Comparison of D90 and 50D products Both Nikon D90 and Canon 50D has their own selling point, as mentioned above, Nikon D90 has its advanced recording function, similarly, Canon improves 50D pixels to be 15.1 million, which is also an enhanced technology. Moreover, both companies realize the increasing importance of after-sales service and have been working to improve it to satisfy their customers. 2.2 Promotions 2.2.1 Promotion of Canon 50D Canon promotes 50D chiefly by exhibitions and fairs. By attending multitude of exhibitions, it shows its environmentally conscious products and environmental endeavors to the public. Taking advantage of the exhibitions, Canon attempts to illustrate detailed actions of Canon Environmental Vision (Canon, 2010 c). 2.2.2 Promotion of Nikon D90 Nikon promotes primarily in two ways. One of them is through clubs. Nikon founds many clubs with a significant number of consumers all over the world. It provides several broadband networks and a terrific computer for professional support. Nikon is trying hard to demonstrate the environment-friendly of its products and build a strong relationship with the public (Nikon, 2010 c). Another promotion is discount. Nikon announced that customers, who bought D90 during the period from March 1 to May 31, could receive 1200 RMB back. This is an effective way to encourage people to purchase their products (Nikon, 2010 d). 2.2.3 The comparison of Nikon D90 and Canon 50D Nikon and Canon have a variety of promotions of their products, whereas, they are different from each other. However, there is no denying that, both of them do very well on promotion. 2.3 Place 2.3.1 Place of Nikon D90 The primary distribution of Nikon D90 is retail stores. Nikon authorizes a significant number of traders, including retailers and wholesalers, providing convenience for people to purchase their products (Nikon, 2010e). Wholesalers assist in directly distributing products to retailers and customers. It is difficult to distribute well without wholesalers help, for Nikon is a gigantic corporation. 2.3.2 Place of Canon 50D Canon 50D is sold mainly in retail stores. It is available in a large number of Canon stores around the world. Another way to purchase a Canon 50D is from a direct online store. Customers can review its details and price on the website and make an order easily (Canon, 2010 d). 2.3.3 The Comparison of Nikon D90 and Canon50D places Due to convenience and efficiency, retail stores become popular and common regularly. Consequently, both companies primarily focus on retail distribution. However, Canon provides online stores as well to provide reliable products. 2.4 Price The price of Canon 50D is set around 5580 RMB in Chinese market (Zhongguangchun, 2010 a). On the other hand, the price of Nikon D90 is 6200 RMB (Zhongguangchun, 2010 b). The chart is drawn according to the questionnaire investigation on public SLR amateurs in Guangzhou 2010. It shows different price ranges that people are willing to pay for a single-lens reflex camera. The chart demonstrates that forty-eight percentages are willing to pay for Single-lens reflex camera less than 5000 Yuan. The prices of D90 and 50D are approximately 6000 RMB that is higher than most people anticipated, merely thirty-two percentages of people are willing to pay for a camera at this price. However, there are still many amateurs accept higher price. 2.4.1 The Comparison of Nikon D90 and Canon50D prices The competition of camera marketing is severe. The price of their products is always approximately the same, for both of them keep an eye on each other. However Nikon 90D is a little more expensive, it is hard to clarify that which one is better since both of them have their different selling points and strengths. Therefore, the choice between them depends on what buyers need. 2.5 Segmentations Fundamentally, both Nikon D90 and Canon 50D target amateurs as their primary customers. The people who love photography but are not professionals are the most potential group. A significant feature of these users is that, they take appearance and accessories as the most considerable factors since these are seen as reflection of their identity Another segmenting is gender. There is a contrast between Nikon D90 and Canon 50D. The goal of Nikon D90 is to satisfy female, for which its body is made of quality plastic to reduce its weight. Conversely, Canon 50D is more likely to meet males needs, for which its weight is not necessary to be considered. 3. Conclusion 3.1 Summary To sum up, marketing mix plays a significant role in business and it associates with the market segmenting closely. To obtain a good market share, a company should have a strong and suitable marketing mix to satisfy consumers wants and needs. It has been demonstrated by the findings above, that both market segmentation and marketing mix are essential to business. From these comparisons we can draw the following conclusion that, there are plenty of commons between Nikon D90 and Canon 50D, such as their target customers, however, they are different in some other aspects, such as their promotion. However, both of them gain satisfying market shares. 3.2 Recommendations 3.2.1 For Nikon Although Nikon D90 is sold well in Chinese marketing, the distribution of the D90 could be improved to make it more perfect. As there are lots of fake products in the market of China, Nikon is strongly recommended to open an online shop to avoid this phenomenon 3.2.2 For canon Although 50D has obtained good sales for Canon, it is still necessary to ameliorate the marketing mix. Because the price of 50D is slightly higher than people expected, if discount is offered, Canon 50D could be sold better in China.