The paper "Let Emerging Market Customers Be Your Teachers" is a great example of a Marketing Case Study. Digital cameras are the modern-day cameras that encode digital videos and images digitally and also stores them for them to be produced later. Most cameras that are in the market today are digital and their digital cameras are also incorporated in a broad range of devices such as in mobile phones PDA and also in vehicles (Armstrong 2000). In this context, digital cameras are termed as consumer electronics that are mainly built with the aim of capturing both video and pictures. The increasing demand for mobile phones seems to pose a significant risk to the digital camera industry; nevertheless, the industry has been performing well. This research sets out to produce a research report describing digital cameras and how the market can be segmented.
This will down in various steps as follows: Explanation of the digital camera industry area Description of product segments offered within the market Identification of the target segment The marketing mix and Trends in the business environment that are affecting the digital camera industry. Industry Overview With the growing popularity of social networking and the emerging trend of sharing of images over wide range platforms, have eventually led to the numerous growth of the digital camera industry.
The market for digital cameras in the UK has been evolving steadily over the years. The company to be used, in this case, is Canon (GFK 2011). Canon is a leading company in the business world. Since the time that the company was established, it has always aimed at being at the forefront of technological advancement and this is done by continuously building on its achievement through the creation of new lifestyles for individuals. Size Canon is a famous Japanese company that engages in the production of digital cameras. 60 % of Canon digital cameras are made in Japan.
Canon's global network includes 300 companies with an employee base of about 200,000 people (Canon Annual Report 2009). The company is a world leader in digital imaging technologies and office automation. The company also seems to be more concerned with technological advancements and 10% of the company’ s revenue is dedicated to Research and Development (R& D).
The company is guided by the Kyosei philosophy that tends to focus more on living and working together for a common good. Canon, therefore, delivers user-friendly and high-performance solutions and products so as to improve efficiency in the home and office environment. Financial information Canon is a global leader and has revenue that totals to $49.8 billion as of May 2015. The company has also been rated as being among the financial sound organizations (Canon Press Release 2009). Number of competitors When companies have no competitors they tend to exploit the consumers with high prices and they may also offer inferior products to the customers.
Competitors play an essential role in driving innovation so as to keep up with new procedures and ideas that are likely to move organisations to greater heights (Worthington & Britton 2003). In relation to the digital camera segment, Canon has many competitors which includes but are not limited to Eastman, Kodak, Sony, Panasonic and Nikon. In relation to this, Canon needs to keep up and always manufacture high quality and innovative digital cameras so as to meet their consumer’ s needs.
Canon will have no option but to offer their target customers with the latest and most advanced digital cameras so as to attract and retain them (Kay and Fogg 2012).
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