Agenda

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Agenda

• Area of Opportunity Industry Overview Need Gap
  
• Product Panasonic LUMIX PocketScope
• Target Market Demographics Psychographics
• Interviews Results of Focus Groups
• Strategic Implications Promotion, Price, Place
  Analysis
• Conclusion Key Takeaways

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I. Area of Opportunity

• Results of Preliminary Investigation of Industry
  and Competitors Need Gap

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Digital Camera Industry

• Introduced in 1991
• Changing market
• Increased involvement
• Less differentiation
• Increased importance of
• Price/value ratios
• Product innovation
• Marketing and distribution

Opportunity Product Target Market
Interviews Strategic Implications
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Major Competitors

• Fujifilm
• Olympus
• Canon
• Nikon
• Sony
• Kodak

Opportunity Product Target Market
Interviews Strategic Implications
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Cameras Key Features
Opportunity Product Target Market
Interviews Strategic Implications
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Bridging the Need Gap
Opportunity Product Target Market
Interviews Strategic Implications
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II. Product PocketScope

• A New Camera with
• Revolutionary Features

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Title
18x zoom Subcompact
Opportunity Product Target Market
Interviews Strategic Implications
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PocketScope
Opportunity Product Target Market
Interviews Strategic Implications
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New Product Summary

• 18x optical zoom
• Small, almost subcompact size
• HD video
• Wi-Fi connection for instant uploads
• Easy-to-use manual

Opportunity Product Target Market
Interviews Strategic Implications
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III. Target Market
Demographics, Psychographics, Clusters, and
Lifestyles of our Target Consumers
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Overview PocketScopes
Target Market

• Advanced vs. mass market consumer
• Generation Y age cohort (approx. 24
  of US pop.)
• Older Generation Y (1977 1988)
• Younger Generation Y (1988 1994)
• Key PRIZM Clusters
• ACORN Lifestyles

Opportunity Product Target Market
Interviews Strategic Implications
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PRIZM Clusters

• Younger Cluster
• Boomtown Singles
• Older Clusters
• Young Influentials
• Bohemian Mix
• Young Literati
• Mixed Cluster
• Towns and Gowns
• Accentuates the divide between younger and older
  Gen Ys, yet reinforces their similar consumer
  behavior
• All clusters characterized as young, educated,
  outdoors types

Opportunity Product Target Market
Interviews Strategic Implications
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ACORN Lifestyles

• Group 3 Up Coming Singles
• Group 5 Young Mobile Adults
• Characteristics young, vibrant, mobile,
  educated, relatively affluent
• Interests museums, physical fitness,
  photography, style, and technology
• Activities dancing, nightlife, theater, travel

Opportunity Product Target Market
Interviews Strategic Implications
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Identifying Psychographics

• Target is young, demanding, technologically
  advanced with an active lifestyle
• Highly functional, high quality, stylish camera
  suits this lifestyle
• Generation Y consumers are trendsetters and the
  predecessors to the next generation of American
  families

Opportunity Product Target Market
Interviews Strategic Implications
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IV. Interview Results
Concept Statement Results of In-Depth
Interviews and Focus Groups
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Interview ResultsPre-Concept Statement

• Respondents expressed that they felt Panasonic
  was a trusted and reliable brand.
• When purchasing a camera, almost all of our
  respondents sought utilitarian features, such as
  sleek design, zoom, resolution, and megapixels.
• We learned that our interviewees were neither
  strongly satisfied nor dissatisfied with their
  current camera.

Opportunity Product Target Market
Interviews Strategic Implications
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Concept Statement
Panasonic is introducing a new camera to target
the young and stylish amateur photographer who
craves high quality photographs. This camera,
inspired by the original 18x optical zoom
advanced digital camera in the Panasonic LUMIX
Series, offers SLR capabilities in a sleek
subcompact camera. It is small enough to fit in
your pocket, stylish enough to be a fashion
statement, yet advanced enough to produce
professional-looking results for two-dimensional
memories that leave out no details.
Opportunity Product Target Market
Interviews Strategic Implications
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Interview ResultsPost Concept Statement

• Feedback was mixed, yet moderately optimistic.
• Some were skeptical found the product too good
  to be true. One general cause for skepticism
  stemmed from the 18x optical zoom.
• Unaware of advances in digital camera technology.
• Discovered respondents valued different aspects
  of camera, including utilitarian aspects, such as
  size, and hedonic aspects, such as the ability to
  preserve memories in high quality photographs.

Opportunity Product Target Market
Interviews Strategic Implications
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Excerpts from In-depth Interviews

• Pre-Concept Statement
• I went out and bought my digital camera
  specifically for the Barack Obama rally in
  Washington Square Park. I wanted to be able to
  see his face.
• I don't use my current camera as much because my
  older one took better quality pictures.
• Post Concept Statement
• The features must wow me enough to buy something
  bigger and the ability to edit on a camera and
  Wi-Fi would definitely pique my interest.
• I just question how easily all these things can
  be put together in a smaller package. However,
  if it all is done correctly, I would definitely
  like it.

Opportunity Product Target Market
Interviews Strategic Implications
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V. Strategic Implications for the PocketScope

• Promotion, Price, Place Analysis based on
  Preliminary Evaluation Interviews

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Nature of Advertising Themes

• Combination of utilitarian and hedonic
• Consistent with industry
• Terminal approach - Capture memories
• Superego - Pose for pictures
• Comparative and informational

Opportunity Product Target Market
Interviews Strategic Implications
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Transmission of Information

• Non-traditional media and web-based
  sources of communication
• Word of mouth
• Product reviews
• Promotions on YouTube and Facebook
• Introductory phase ? reach E-fluentials
• Traditional media
• Magazines ESPN Magazine and PC Magazine

Opportunity Product Target Market
Interviews Strategic Implications
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MaintainingPost Purchase Relationships

• Goal Build brand loyalty
• Prone to post purchase dissonance
• Marketing strategies
• Consistent image
• Camera tip of the month sent via email
• Product care and offer warranties
• Social networking groups
• Online training classes
• Photo contests

Opportunity Product Target Market
Interviews Strategic Implications
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Pricing Expectations
Lowest Acceptable Price
Reservation Price
Reference Price

• Pricing Methods
• Cost of Production
• Price Previously Paid
• Price of Substitutes

PocketScope
450
300
200
Acceptable Price Range
150
500
Expected Price Range
PocketScope Price Range 339.99 - 429.99
Opportunity Product Target Market
Interviews Strategic Implications
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Place / Channel Distribution

• Utilize Panasonics established channels
• Offline online point-of-sale Amazon.com, Best
  Buy, Costco, and BH Photo Electronics
• Emphasize online distribution Message control

Opportunity Product Target Market
Interviews Strategic Implications
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VI. Conclusion

• Key Takeaways

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Wrapping Up

• Area of Opportunity and Industry Overview
• Product PocketScope
• Target Market
• Results of Interviews and Focus Groups
• Strategic Implications Promotion, Price, Place

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Thank You

• Questions Answers

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VII. Appendix
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Nature of Advertising ThemesPerceptual Maps
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Project Information
Project Eagle EyeA Marketing Opportunity for
PanasonicCompany Panasonic Corporation of North
America
Class and School Information Consumer Behavior
C55.0002.001-002.FA08Leonard N. Stern School of
Business, New York UniversityProfessor Henry
Assael December 11, 2008
PocketScope Team Contact Information Matthew
Adamski, mra263_at_stern.nyu.eduSeth Brodie,
scb330_at_stern.nyu.eduDiana DiGuido,
drd242_at_stern.nyu.eduEugene Ioannou,
eji206_at_stern.nyu.eduEmily Pan,
ep850_at_stern.nyu.edu