Consumer Behavior on Panasonic
1. Executive summary
Panasonic is the long-established brand for household appliance with its headquarters in Japan with a mission achieving “Always making people central to our activities and thereby focusing on people's lives”. Their camera brand, Lumix, ranging from pocket point-and-shoot models to digital SLRs with most popular model included DMC-GF1. With increasing competition and consecutive loss since financial year 2010, the company proposed structural change in market development to rebound .
Objectives
In regard of aggressive competition in the camera market, our team had launched a research to observe their performance in the camera market as an assessment to their reform. Data Analysis are completed and we would propose further recommendation according to our findings.
Findings & Recommendation
Our research focused on the Hong Kong segment, specifically examining users of interchangeable lens camera. After the interview with 5 consumers, we identified the five most important attributes are Styling, Durability, Image Quality, Popularity and Photo edition effects. We launched our survey online. Based on different lifestyle and purchasing behaviors within the group, we have therefore divided into two segments – segment A is age < 30 and segment B is age (30-45). From our survey data, results of large variance in Style, Appearance, Popularity and Durability evaluation of Panasonic and the competitor, Olympus is evident. From our data analysis, we proposed suggestions customized for both segment under the process of Brand Rrejuvenalization. For the youth segment, we would re-position our brand as functionality co-exist with new elements in every new product line. We would focus on the social media communication and photo-editing function inside the camera in marketing strategies. In view of the demand of older age group (>30 yrs. old) for high durability and photo quality, we would then emphasize on cross-selling strategies and consumer communication.
Panasonic is the long-established brand for household appliance with its headquarters in Japan with a mission achieving “Always making people central to our activities and thereby focusing on people's lives”. Their camera brand, Lumix, ranging from pocket point-and-shoot models to digital SLRs with most popular model included DMC-GF1. With increasing competition and consecutive loss since financial year 2010, the company proposed structural change in market development to rebound .
Objectives
In regard of aggressive competition in the camera market, our team had launched a research to observe their performance in the camera market as an assessment to their reform. Data Analysis are completed and we would propose further recommendation according to our findings.
Findings & Recommendation
Our research focused on the Hong Kong segment, specifically examining users of interchangeable lens camera. After the interview with 5 consumers, we identified the five most important attributes are Styling, Durability, Image Quality, Popularity and Photo edition effects. We launched our survey online. Based on different lifestyle and purchasing behaviors within the group, we have therefore divided into two segments – segment A is age < 30 and segment B is age (30-45). From our survey data, results of large variance in Style, Appearance, Popularity and Durability evaluation of Panasonic and the competitor, Olympus is evident. From our data analysis, we proposed suggestions customized for both segment under the process of Brand Rrejuvenalization. For the youth segment, we would re-position our brand as functionality co-exist with new elements in every new product line. We would focus on the social media communication and photo-editing function inside the camera in marketing strategies. In view of the demand of older age group (>30 yrs. old) for high durability and photo quality, we would then emphasize on cross-selling strategies and consumer communication.