Product Reassessment

Product Reassessment

Introduction

Digital and Video Cameras over the decades have enjoyed monopoly market before the advent of the Smartphones. It has been noted that Digital and Video Cameras are optical devices that are used in the recording of images that can be printed, stored or transmitted to other devices or platforms. The images recorded by the Digital and Video Cameras maybe moving images such as movies or videos or still photographs. Camera originated from a Latin word known as ‘camera obscura’ which signaled a dark chamber, which was an early mechanism adopted in projecting images. Technology has evolved the modern camera with added features and applications. In United States, Digital and Video Cameras are facing stiff competitions from Smartphones.

African Market

African market is made of developing nations and least developed nations, an indication that the market is not wholly exploited. There are many avenues that Digital and Video Cameras can employ in making a catch in the market. It has been noted that Smartphones in Africa are very expensive and unreliable basing on the inadequate distribution of the electricity. Majority of the phone consumers in Africa base their purchases depending on the durability of the battery life after charging. Smartphones are known to consume power basing on the many technological applications (apps).

South Africa and Kenya are the entry points for businesses in Africa, this is considering that the two markets are highly developed and presents enough challenges that prepare investors to adopt products and services in other African nations (Beckett & Sudarkasa, 2000). Surveys have shown that Africa is rich in potentials and also in opportunities, it houses a number of economies that are fastest growing in the world, particularly numbering to seven out of the ten fastest growing economies in the globe.

Middle class consumers in Africa is ever rising, and the majority of the population is aged thirty five years and below, there are high chances that Digital and Video Cameras can develop a competitive edge in the African market if well integrated with the exact needs of the target customers (Burton et al, 2012). The economic development and growth of Africa is propelled by talents and demographic dividend energy.

Market Predictions

Predictions done by IMF (The International Monetary Fund) indicated that no other continent in the world will grow faster than Africa in the coming decade. African governments particularly in South Africa and Kenya are collaborating in improving the ever changing business climate, indicating that investors are ever encouraged to invest in Africa (Beckett & Sudarkasa, 2000). It is expected that investments in Africa by Digital and Video Cameras producers will create local jobs, strengthen local communities and also strengthen local businesses as the African continent gets connected with the other parts of the world.

Statistics obtained from World Factbook indicated that sales of Digital and Video Cameras are ever decreasing with majority of the target customers in the United States preferring to use Smartphones (Cia.gov, 2013). Further survey argued that if Digital and Video Cameras got spoilt or got lost, then the target customers would prefer to purchase a Smartphone rather than repairing or buying another Digital and Video Cameras. This is a clear indication that a significant number of consumers have changed tastes and preferences, and that it is the high time that Digital and Video Cameras products adopts new marketing mechanism to remain relevant in the market. Africa has over three hundred million people in the middle classes, an indication that the target market is highly promising.

Brand Positioning

Brand repositioning is the solution for Digital and Video Cameras in the Africa and in the United States, taking an example of a brand that successfully repositioned and took back the target market is Marlboro. Marlboro in 1950s faced a challenge after it was linked to cancer. Marlboro previously was successful for its brand ‘Mild as May’. The initial cigarette brand targeted women; the company developed a brand for men. Marlboro cigarettes managed to restructure the target market by focusing at the new audience. Main reasons for repositioning are pegged on declining sales, target audience are no longer pleased by the products and services, the products and the services have evolved with time, stiff competition with a better value propositioning and customers taking the products and services as outdated and obsolete (Burton et al, 2012). Digital and Video Cameras is facing a number of challenges, an indication that repositioning is the solution in setting new target audience (Beckett & Sudarkasa, 2000).

Brand positioning takes different forms, the best approach for Digital and Video Cameras is identifying and attempting the target market. South Africa and Kenya are the target market for Digital and Video Cameras in Africa with intentions of diversifying to the whole of Africa. Digital and Video Cameras will establish placement strategies identifying with promotions, distribution, price, competition and packaging. Digital and Video Cameras will create an impression in the minds of the African consumers (Burton et al, 2012).

Brand positioning of the Digital and Video Cameras in South Africa and in Kenya will constitute communicating and identifying the brand’s differentiation, uniqueness and verifiable value. The brand repositioning process will involve Digital and Video Cameras identifying direct competition in South Africa and in Kenya, understanding the culture of the African consumers, understanding the way competitors are positioned in the market, documenting own positioning strategies, comparing own marketing strategies and competitor marketing strategies, setting differentiation, developing value based and distinctive positioning concept and developing a positioning statement in the target market (Beckett & Sudarkasa, 2000).

Product positioning process in South Africa and in Kenya will involve defining the target market, identifying the dimensions, gathering information from target audience, gathering the share of mind connected to the Digital and Video Cameras, determining the location of Digital and Video Cameras in the target market, setting the ideal vector connected to Digital and Video Cameras in the African market and examining the best fit between Digital and Video Cameras and the market.

Positioning research and concepts in the African market for Digital and Video Cameras will call for functional positions, symbolic functions and experiential positions. Measuring of Digital and Video Cameras positioning in the African market will involve perceptual mapping, statistical techniques and survey techniques among others (Burton et al, 2012). Statistical techniques will employ factor analysis, multidimensional scaling, logit analysis and conjoint analysis.

Adoption Rates

Digital and Video Cameras will target word of mouth referrals as the method of encouraging high adoption rates in Africa. Majority of the African cultures value relationship based model of communication, an indication that Africans value relationships in making choices. There are high chances that Digital and Video Cameras products with time will embrace customer experience, customer loyalty and customer satisfaction. Digital and Video Cameras will be positioned in ways that the target customers will be willing to recommend the product to other potential consumers (Burton et al, 2012).

It has been noted that majority of the middle class earners in Africa are spenders, in the same concept, there are high chances that Digital and Video Cameras will be an option for most target consumers. Prices of Digital and Video Cameras must be made affordable to the target consumers (Beckett & Sudarkasa, 2000). Africa is not fully developed, an indication that distribution of Digital and Video Cameras will face diverse challenges. The common distribution challenges identify with channel partners and poor infrastructure. Distribution channels will constitute the existing wholesalers and retailers as the target intermediaries. Digital and Video Cameras products will have to establish sound business relationship in distributing the products in the African market. It has been noted that building the right marketing support in Africa will be influential in managing, supporting, customer service, motivation and enhancing brand loyalty.

Marketing Planning Process and Market segmentation

The marketing planning process for Digital and Video Cameras will involve goal setting, analyzing the current situation, creating sound marketing strategy and allocating essential marketing resources and monitoring; all these are carried out through setting a vision/mission, corporate objectives, marketing audit, SWOT analysis, defining marketing assumptions, setting marketing strategies and objectives, setting forecasts, creating alternative plans, setting marketing audit and setting detailed action plan (Beckett & Sudarkasa, 2000).

Market segmentation for Digital and Video Cameras will be critical in dividing the African market into consumers with common needs, which then will follow implementing and designing strategies of reaching at the target market through media channels among other marketing channels. Product strategy will employ product mix, product life cycle and enhancing relevant product development process (Burton et al, 2012).

Conclusion

The world is facing changes with socialization and globalization, technology is part of modernization that is pushing away Digital and Video Cameras products in the United States among other developed nations. It is vital for the producers of Digital and Video Cameras to engage in technology in developing new strategies of meeting the exact needs of the target customers. Smartphones are catching up with the services offered by Digital and Video Cameras products.

References

Beckett, J. & Sudarkasa, M. (2000). Investing in Africa: An Insiders Guide to the Ultimate Emerging Market . Hoboken, New Jersey: Wiley.

Burton, P. et al. (2012). 42 Rules of Product Marketing: Learn the Rules of Product Marketing from Leading Experts from around the World. New York: Super Star Press.

Cia.gov. (2013). The World Factbook. Retrieved July 29, 2013, from Cia.gov: https://www.cia.gov/library/publications/the-world-factbook/wfbExt/region_afr.html

 

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