Panasonic Lumix represents the digital camera segment of Panasonic, a leading Japanese consumer electronics brand.
The Opportunity
In 2009, the Indian market witnessed a rapid surge in demand for digital cameras.
Projections indicated significant growth potential, with the digital still camera market in India expected to expand by 20% by 2015. Within this, the Point-and-Shoot (P&S) camera category was forecasted to grow at a remarkable CAGR of 30%, while the DSLR camera category was expected to experience even more impressive growth at a CAGR of 63%. Overall, the Indian digital camera market was poised to grow at a CAGR of 32% in terms of units over the period 2010-2015, reaching an estimated 41 lakh units in 2011. Of these, approximately 38.4 lakh units were projected to be P&S cameras, with the remaining 2.6 lakh units being DSLR cameras.
This meteoric growth was fueled by factors such as increasing disposable incomes and evolving lifestyles. The compact, portable, and convenient nature of digital cameras resonated well with the changing preferences of Indian consumers, further driving the demand for these devices.
Market Scenario
In the point-and-shoot digital camera segment, Sony, Canon, Nikon, and Kodak emerged as key players. Sony led the pack with a 24% market share, closely followed by Nikon at 21%, Canon at 16%, and Kodak at 14%.
Within the SLR digital camera market, Nikon and Canon asserted dominance in India. Nikon commanded a substantial 55% share, while Canon secured a notable 32% share in the DSLR category.
Digital Camera Communication
Communication strategies for digital cameras are strategically tailored to be season-led, occasion-led, and focused on specific features and models. The communication efforts are orchestrated in waves, with particular emphasis during holidays and festivals when consumer demand for cameras peaks. This approach ensures targeted messaging that resonates with consumers during key moments of heightened interest and purchasing intent.
The Challenge
Panasonic Lumix faced the challenge of entering an organized market dominated by established players in both the Point-and-Shoot (P&S) and DSLR categories.
The Objective
The primary objective was to establish Panasonic Lumix as a preferred and differentiated brand, distinct from its competitors in the digital camera market.