Marketing Individual Assignment
Contents
I. The Proposal 2
II. Strengths and Weaknesses 3
III. Potential Risk and Difficulty in Implementation 6
IV. Requirement to Succeed 7
V. Potential Ethical Issues in Implementation 8
VI. References 9
VII. Appendice 1 11
The Proposal
I will start off my assignment by giving an overview of the frameworks, theories and models that went into the deliberation and decision making process in terms of the value proposition we offered as this information was not highlighted sufficiently in the presentation.
The team followed a fairly sensible process in terms of analyzing the core chunks of the assignment in order to build a roadmap with key milestones, corresponding roles and responsibilities as well as timelines leading up to the key delivery date. This process being led by a Marketing expert in the group, we found ourselves in a position of privilege in terms of being exposed to an experiential marketing journey drawing from industry practice and his experience. We started the process with a core group brainstorm session on defining key issues at Nikon from a global perspective, analyzed their position in the market to understand what their market positioning was in terms of market share and brand equity, identified their key competitors and ranked them in order of significance and looked at what the market trends have been in terms of camera users. Lastly, we analyzed Nikon’s strategy in terms of key brand initiatives currently running to understand what their strategic focus was but also to be able to sensibly make a commercially viable proposition that could support the company’s growth imperatives.
We learnt in class that “Marketers should be the ‘eyes and ears’ or the ‘radar’ for their organizations, Identifying threats and opportunities, devising smart target market strategies, understanding competitors’ moves, while satisfying ever-changing customer buying behaviour with value-enhancing propositions.” (Linden, 2014). With this knowledge,
I. The Proposal 2
II. Strengths and Weaknesses 3
III. Potential Risk and Difficulty in Implementation 6
IV. Requirement to Succeed 7
V. Potential Ethical Issues in Implementation 8
VI. References 9
VII. Appendice 1 11
The Proposal
I will start off my assignment by giving an overview of the frameworks, theories and models that went into the deliberation and decision making process in terms of the value proposition we offered as this information was not highlighted sufficiently in the presentation.
The team followed a fairly sensible process in terms of analyzing the core chunks of the assignment in order to build a roadmap with key milestones, corresponding roles and responsibilities as well as timelines leading up to the key delivery date. This process being led by a Marketing expert in the group, we found ourselves in a position of privilege in terms of being exposed to an experiential marketing journey drawing from industry practice and his experience. We started the process with a core group brainstorm session on defining key issues at Nikon from a global perspective, analyzed their position in the market to understand what their market positioning was in terms of market share and brand equity, identified their key competitors and ranked them in order of significance and looked at what the market trends have been in terms of camera users. Lastly, we analyzed Nikon’s strategy in terms of key brand initiatives currently running to understand what their strategic focus was but also to be able to sensibly make a commercially viable proposition that could support the company’s growth imperatives.
We learnt in class that “Marketers should be the ‘eyes and ears’ or the ‘radar’ for their organizations, Identifying threats and opportunities, devising smart target market strategies, understanding competitors’ moves, while satisfying ever-changing customer buying behaviour with value-enhancing propositions.” (Linden, 2014). With this knowledge,
References: Anon, (2015). [online] Available at: http://transparency market research and camera labs website [Accessed 18 Jan. 2015]. BBC News, (2013). Is Samsung 's phone strategy smart?. [online] Available at: http://www.bbc.co.uk/news/technology-22983706 [Accessed 25 Jan. 2015]. Canon : Corporate Info. (n.d.). Retrieved January 18, 2015, from http://www.canon.com/corp dibbs, s., simkin, l., Pride, w Media3.bournemouth.ac.uk, (2015). Marketing. [online] Available at: http://media3.bournemouth.ac.uk/marketing/10branding/05position.html [Accessed 25 Jan. 2015]. nikon 's competition. (2015). [online] Available at: http://nikon.com [Accessed 25 Jan. 2015]. Nikon.com, (2015). Nikon | History. [online] Available at: http://www.nikon.com/about/info/history/products/index.htm [Accessed 25 Jan. 2015]. Nikon.com, (2015). Nikon | Investor Relations. [online] Available at: http://www.nikon.com/about/ir/index.htm [Accessed 25 Jan. 2015]. Nikon.com, (2015). Nikon | Responsibility | Nikon Code of Conduct. [online] Available at: http://nikon.com/about/csr/compliance/code-and-rules/summary/index.htm [Accessed 25 Jan. 2015]. Peppers & Rogers Group, "Turning Customer Experiences Into Competitive Edge :Nikon 's Journey to Leadership." (2006): 5. Print. PEST Analysis." Strategic Management. 2007. 17 Aug 2009 Ricoh Imaging, (2015) Wendy Lomax & Gil McWilliam (2001) Consumer Response to Line Extensions: Trial and Cannibalisation Effects, Journal of Marketing Management, 17:3-4, 391-406