Mike Bolden is dedicated to helping organizations win, dominate
and monopolize markets. We provide insight into cutting edge marketing
strategies and best practice initiatives with a strong emphasis on
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Nikon: Marketspaces, Memories and Moments
Competing Against Canon and Other Players
As far as competing against its rival Canon and other players, Nikon should trade lower margins and competitive pricing for volume in marketspaces where Canon and overall competition are strong. Nikon should seek less crowded spaces or places where Canon is weak, based on the previously mentioned dimensions. In these weaker marketspaces, Nikon can leverage profitability and sales by offering a strong portfolio of accessories that cater to the needs and preferences of any photographer’s lifestyle or usage occasion and type.
Emotion-Oriented Marketing and Ads
From a marketing and advertising perspective, Nikon would do well to develop strong emotion-oriented advertisement before and during the holiday seasons. They should tie ads to customers in each major strategic marketspace for the things in life that they care about; not necessarily photography-related. Nikon can make light reference to features of the camera, but the ads should focus on capturing memories and important moments.
What Do You Think Nikon Should Do?
As for Nikon’s other businesses, precision equipment, scanners, and microscopes, they should replicate the strategic-dimensionalized marketspaces, except the major focus should be usage. How would you approach Nikon’s markets? Is there anything else you would do to stem costs? Do you agree with my lifestyle and usage dimensionalization as a way to develop camera models, their features, and targeted advertisement?
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Mike Bolden marketing expert and blue ocean strategist – writing to inform, enlighten, and inspire. Author of forth coming book, “Owning Marketspace”. Available for consulting and speaking engagements.