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Digital Cameras Market

Essay by   •  August 16, 2011  •  Essay  •  893 Words (4 Pages)  •  1,595 Views

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INDEX

Topic Page No.

Digital Camera Market 2

Consumer Buying Behavior 3

Marketing Implications 7

Bibliography 9

DIGITAL CAMERAS MARKET

India Digital Camera market records 69% Year on Year (YoY) growth in sales to touch an all-time first of 8.45 lakh units in the October-December 2010 quarter. The current market trends point to multiple ownership backed by an increasing consciousness and demand for high performance cameras amongst urban Indian households in the large metros. Users are looking to buy better quality, high-resolution cameras for personal use. Digital camera vendors are innovating in terms of design, functionalities and technology, pushing out products to consumers at ever lower prices.

2.74 million units were shipped in 2010-11.

CONSUMER BUYING BEHVIOUR

The consumer buying process is a complex process, which is influenced by many internal and external factors. A consumer's buying process can be broadly viewed as follows:

Need Recognition

Based on the inputs from consumers the need for digital cameras can be listed as follows:

Clicking instant pictures

High Quality images

User friendly technology

Learn photography

Sharing

Portability

Age Group Clicking instant pictures High Quality images User friendly technology Learn photography Portability

Below 25 + + + +

25-40 + + + + +

Above 40 + + + +

Clicking instant pictures and high quality images were needs common to all age groups. The remaining varied depending on age group, profession, family atmosphere.

Information Search

The major sources of information for most of the consumers were:

Internet

Family

Friends

Magazines

Internet has emerged as the most popular source of information since all the information is available instantly.

Evaluation of Alternatives

In the evaluation procedure consumers compared specific features, price etc of various brands. They arrived at a final decision based on the product offering the best combination of the following aspects:

Compactness/Size

Specifications: Megapixel, Zoom, Screen resolution

Lens Quality

Aspect Ratio

Wide angle view

Memory

User friendly

Flash

Brand

Price

The consumer considered some or most of these characteristics before making the final purchase. The time taken for decision making varied from 10 minutes to 2 months. However, most consumers generally took 15 days.

As per the feedback from the consumers, some brands were better at some parameters as compared to others:

Brand- Nikon and Sony were the most preferred brands

Size-Canon, Nikon, Panasonic

Peer Review-Cannon, Sony, Panasonic, Nikon

Color Variance- Sony

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