Digicams double ad spends
Increasing competition and immense growth opportunity is seeing camera companies concentrating on multiple marketing strategies, while almost doubling their advertising spends, writes Rachit Vats.business Updated: Mar 29, 2010 00:05 IST
Increasing competition and immense growth opportunity is seeing camera companies concentrating on multiple marketing strategies, while almost doubling their advertising spends. Despite the global slowdown, the Indian camera market has grown more than 50 per cent.
The coming financial year will see Nikon India, which entered India only in 2007, stepping up its business-to-consumer and the business-to-business initiatives by doubling its marketing spends. Fiscal 2008-09 saw its market share at seven per cent for compact digital cameras and 29 per cent for professional D-SLR cameras, which has almost doubled to 13 per cent and 45 per cent respectively by now.
Nikon has rolled out its first television ad in India, plans to introduce the Nikon School concept soon, and introduce new models. Hidehiko Tanaka, MD, Nikon India, said: “2010 shall be a big year for us as we shall be opting for a 360-degrees marketing approach.” The Nikon School will bring together a panel of photographers and various photography enthusiasts together via seminars.
At just three per cent household penetration, the compact digital camera market is worth Rs 1,400 crore with 2.2.million units sold annually. Experts say the market is growing at 50 per cent in unit terms and will touch
Rs 2,000 crore by 2010-end. For the
D-SLR category, the market size is around 30,000-plus units, worth Rs 200 crore.
Canon India too has set aside Rs 55 crore, a straight 100 per cent jump over the previous year, for only marketing its digicams. The company closed 2009 at Rs 850 crore, growing by 27 per cent over 2008, and hopes to touch Rs 1,000 crore by 2010 end. Alok Bharadwaj, senior vice-president, Canon India, said: “The photography industry curve is going up and we are looking at creating better retail ambience, build a photography community and launch
new cameras.” Canon will launch 18 new camera models in May.
Samsung India, with eight per cent market share in digicams, recently launched 16 new models and has increased its ad spend for the category by 30 per cent.
R Zutshi , Deputy MD ,Samsung India, said: “We are launching new digital camcorders and focusing mainly on conventional print media for advertising.”
Samsung is looking at capturing 20 per cent market share by 2010 end. Its new range is priced between Rs 7,995 and Rs 21,000.
First Published: Mar 29, 2010 00:03 IST