Comparative Analysis of Marketing for Nikon

Comparative Analysis of Marketing for Nikon 1. Introduction 1.1 Background With the remarkable improvement of peoples living standard, cameras have become necessities, and owing to their affordable price, many own cameras. Undoubtedly, cameras provide an easy way to record every occasion. There are multiple kinds of cameras can be found everywhere. However, different cameras are designed for a variety of areas and specific purposes. For instance, single lens reflex cameras are designed for amateurs. Nikon and Canon are both worldwide well-known camera producers, whose products are functional, well-designed, and widely used. (Canon, 2010 e) (Nikon, 2010 f) Nikon with its slogan at the heart of the image, is well-known not only for its advanced technology, but for its trustable quality (Nikon, 2010 a). On the other hand, Canon is a celebrated camera producer and now is a global corporation. Its purpose is to be used all over the world (Canon, 2010 a). 1.2 Theory 1.2.1 Market mix Marketing mix, which is described as the 4Ps as well, is the combination of product, promotion, place and price. Related to segmentation, the marketing strategies are usually used on customers in market, with an aim to satisfy their needs and wants, therefore generating profit (Hall D. et al, 2008:75). 1.2.2 Segmentation Market Segmentation is the division of customers according to their individualities. By market segmenting, companies focus on assured groups of consumers and use particular marketing strategies (Hall D. et al, 2008:66). 1.3 Aims The goals of this report are to analyze how the same grade cameras Nikon D90 and Canon 50D make up their marketing mix (product, promotion, place and price) for the products to obtain good sales in China. In addition, the report will illustrate the targeted segments of Canon 50D and Nikon D90. 2. Findings regarding Nikon D90 and Canon 50D 2.1 Product Gillespie (2007:29) mentions that a product can be identified on three major levels namely, core, tangibility and augmentation. Fundamentally, utility and design are the most notable factor for Single-lens reflex cameras to attract clients. A further important issue is after-sales service which must be considered as well. 2.1.1 Product of Nikon D90 Nikon D90 requires a CMOS with 12.3 million effective pixels and the selling point of D90 is its recording function. Its weight is merely 622g, as its body is made of quality plastic. This design makes it feel tout and appressed, it is therefore easier to hold (Dprview, 2010 a). Furthermore, although most companies provide after-sales service, it always takes a long time for repair. Nikon (2010 b) states that, they understand the importance of the products to customers. Therefore, they have been taking great efforts to accelerate after-sales service. 2.1.2 Product of Canon 50D From the other side, Canon 50D is also a successful Single-lens reflex camera. Its selling point is 15.1 million effective pixels. The weight of 50D is 822g since it is made of iron (Dprview, 2010 b). In order to provide immediate and trustworthy supports, Canon gives out the description of 50D and its instruction in the Chinese market. The company emphasizes that After-sales service that ensures safe use of products over a long term is vital to maintaining customers trust in the Canon brand (Canon, 2010 b). 2.1.3 The Comparison of D90 and 50D products Both Nikon D90 and Canon 50D has their own selling point, as mentioned above, Nikon D90 has its advanced recording function, similarly, Canon improves 50D pixels to be 15.1 million, which is also an enhanced technology. Moreover, both companies realize the increasing importance of after-sales service and have been working to improve it to satisfy their customers. 2.2 Promotions 2.2.1 Promotion of Canon 50D Canon promotes 50D chiefly by exhibitions and fairs. By attending multitude of exhibitions, it shows its environmentally conscious products and environmental endeavors to the public. Taking advantage of the exhibitions, Canon attempts to illustrate detailed actions of Canon Environmental Vision (Canon, 2010 c). 2.2.2 Promotion of Nikon D90 Nikon promotes primarily in two ways. One of them is through clubs. Nikon founds many clubs with a significant number of consumers all over the world. It provides several broadband networks and a terrific computer for professional support. Nikon is trying hard to demonstrate the environment-friendly of its products and build a strong relationship with the public (Nikon, 2010 c). Another promotion is discount. Nikon announced that customers, who bought D90 during the period from March 1 to May 31, could receive 1200 RMB back. This is an effective way to encourage people to purchase their products (Nikon, 2010 d). 2.2.3 The comparison of Nikon D90 and Canon 50D Nikon and Canon have a variety of promotions of their products, whereas, they are different from each other. However, there is no denying that, both of them do very well on promotion. 2.3 Place 2.3.1 Place of Nikon D90 The primary distribution of Nikon D90 is retail stores. Nikon authorizes a significant number of traders, including retailers and wholesalers, providing convenience for people to purchase their products (Nikon, 2010e). Wholesalers assist in directly distributing products to retailers and customers. It is difficult to distribute well without wholesalers help, for Nikon is a gigantic corporation. 2.3.2 Place of Canon 50D Canon 50D is sold mainly in retail stores. It is available in a large number of Canon stores around the world. Another way to purchase a Canon 50D is from a direct online store. Customers can review its details and price on the website and make an order easily (Canon, 2010 d). 2.3.3 The Comparison of Nikon D90 and Canon50D places Due to convenience and efficiency, retail stores become popular and common regularly. Consequently, both companies primarily focus on retail distribution. However, Canon provides online stores as well to provide reliable products. 2.4 Price The price of Canon 50D is set around 5580 RMB in Chinese market (Zhongguangchun, 2010 a). On the other hand, the price of Nikon D90 is 6200 RMB (Zhongguangchun, 2010 b). The chart is drawn according to the questionnaire investigation on public SLR amateurs in Guangzhou 2010. It shows different price ranges that people are willing to pay for a single-lens reflex camera. The chart demonstrates that forty-eight percentages are willing to pay for Single-lens reflex camera less than 5000 Yuan. The prices of D90 and 50D are approximately 6000 RMB that is higher than most people anticipated, merely thirty-two percentages of people are willing to pay for a camera at this price. However, there are still many amateurs accept higher price. 2.4.1 The Comparison of Nikon D90 and Canon50D prices The competition of camera marketing is severe. The price of their products is always approximately the same, for both of them keep an eye on each other. However Nikon 90D is a little more expensive, it is hard to clarify that which one is better since both of them have their different selling points and strengths. Therefore, the choice between them depends on what buyers need. 2.5 Segmentations Fundamentally, both Nikon D90 and Canon 50D target amateurs as their primary customers. The people who love photography but are not professionals are the most potential group. A significant feature of these users is that, they take appearance and accessories as the most considerable factors since these are seen as reflection of their identity Another segmenting is gender. There is a contrast between Nikon D90 and Canon 50D. The goal of Nikon D90 is to satisfy female, for which its body is made of quality plastic to reduce its weight. Conversely, Canon 50D is more likely to meet males needs, for which its weight is not necessary to be considered. 3. Conclusion 3.1 Summary To sum up, marketing mix plays a significant role in business and it associates with the market segmenting closely. To obtain a good market share, a company should have a strong and suitable marketing mix to satisfy consumers wants and needs. It has been demonstrated by the findings above, that both market segmentation and marketing mix are essential to business. From these comparisons we can draw the following conclusion that, there are plenty of commons between Nikon D90 and Canon 50D, such as their target customers, however, they are different in some other aspects, such as their promotion. However, both of them gain satisfying market shares. 3.2 Recommendations 3.2.1 For Nikon Although Nikon D90 is sold well in Chinese marketing, the distribution of the D90 could be improved to make it more perfect. As there are lots of fake products in the market of China, Nikon is strongly recommended to open an online shop to avoid this phenomenon 3.2.2 For canon Although 50D has obtained good sales for Canon, it is still necessary to ameliorate the marketing mix. Because the price of 50D is slightly higher than people expected, if discount is offered, Canon 50D could be sold better in China.

The use of recombinant technology can only benefit humans

Recombination is a way in which meiosis produces new combinations of genetic information. During synapsis, chromatids may exchange parts with other chromatids, leading to a physical exchange of chromosome parts; thus, genes from both parents may be combined on the same chromosome, creating a new combination. Recombinant DNA technology is a series of techniques in which DNA fragments are linked to self-replicating forms of DNA to create recombinant DNA molecules. These molecules in turn are replicated in a host cell to create clones of the inserted segments. I think that recombinant technology only benefits humans as it allows us much greater control over genetic manipulation, which we can then use to our advantage. Indge, Rowland and Baker (2000) summarises some of the ways that recombinant technology has been beneficial to humans; > Genetically engineered micro organisms- large amounts of insulin and human growth hormone can be produced cheaply. > Genetically modified plants- Desirable plants can be transferred from an organism to a crop plant. > Genetically modified animals- human proteins such as haemoglobin and blood-clotting factors, are already produced in the milk of transgenic cows, goats and sheep. > Human gene therapy- gene therapy involves inserting a ‘normal' gene into an organism's body to correct a genetic disorder. ; Mapping human chromosomes (the Human Genome Project)- scientists in over 1000 laboratories around the world are contributing to the Human Genome Project. Their aim is to create a map of all human chromosomes, identifying the precise location of every gene. This will help to develop new gene therapy treatments. The ability to clone genes through the use of recombinant technology is a big advantage to humans. The production of human insulin is now done on a very large scale and benefits many thousands of diabetics. Kent (2000) states that human insulin made by recombinant DNA technology produces fewer side effects than insulin prepared from cow or pig pancreatic extracts, previously the main source of insulin. But diabetics are not the only people who are benefiting from recombinant technology. Jones and Jones (1999) show that considerable advances in genetic engineering are making gene therapy possible. Gene therapy is intended to correct inherited disorders, such as cystic fibrosis, which are caused by a defective gene. If the ‘correct' gene could be inserted into the affected person's cells, then they should be free of the disease. Recombinant technology is also beneficial to humans when it comes to crop production. Genetic engineering is used to produce pest resistant varieties of crop, which means that fewer pesticides would have to be used on the crops and they would produce a greater yield. Jones and Jones (1999) say that tomatoes have been produced containing genes that result in them remaining fresh for much longer than usual after picking. This makes it much easier, and therefore cheaper, to transport them form grower to sale point, so they have a much longer shelf life. But genetically modified crops can also cause problems in the environment. If crops are produced containing a gene making them resistant to herbicides and are then sprayed with the herbicide to kill weeds, this gene might then somehow spread to wild plants and affect the balance of the ecosystem. Although recombinant technology is of great use to humans when it comes to gene therapy and genetically modified crops it can also be a threat if used in the wrong way. Jones and Jones (1999) state that the techniques of genetic engineering could be used deliberately to create new organisms that could infect and kill humans. There are, of course, already many organisms that can do this, but little use had been made on biological warfare. About half of the nations of the world signed a treaty in 1972 pledging not to produce biological weapons of any kind. However, the concern remains, and it is certainly possible that new, highly dangerous forms of infectious organisms could be used deliberately.

The Glass Menagerie By F. Scott Fitzgerald - 1267 Words

The Glass Menagerie is arguably the most symbolic and deep plays ever written. The Glass Menagerie isn’t just a story of Laura’s disability, it has a deeper meaning behind it, and it can be easily overlooked by mediocre minds. Although the story revolves around the Wingfield family, Tennessee Williams throws in symbolism that corresponds with his childhood. In a way, he found closure for the loss of his sister Rose through writing The Glass Menagerie. One of the symbols is the play that holds a different meaning for each of the characters is the fire escape. As the play evolves the fire escape brings out Laura’s, Tom’s, and Amanda’s true desires. OR The fire escape like the other symbols hold a deeper understanding of the characters, and although Tennessee didn’t admit that he wrote this story off of his own experiences as a child having dealt with similar circumstances, it’s obvious it was written about his childhood. 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Financial Decision Making in assessing company growth - Free Essay Example

Sample details Pages: 4 Words: 1319 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? b) Performance appraisal of Capello Designs PLC Return of Capital Employed (ROCE) is often considered to be the best measure of profitability in order to assess the overall performance of the business (McLaney Atrill, 2009). The year 2009/10 has seen a decrease of 4.5% from 24.6% to 20.1% in the ROCE ratio compared to the previous year, operating profit between the two years are similar, the difference in ROCE is due to the large change in capital employed. The decrease in ROCE suggests a poor efficiency and profitability of the companys investments. Don’t waste time! Our writers will create an original "Financial Decision Making in assessing company growth" essay for you Create order Capello Designs ROCE is significantly lower than the typical ROCE of 27% of other companies in the hair care products sector. Capello Designs should strive to maximise the return of capital employed by finding the optimum mix between mix of unit profitability and capital utilisation. The decrease in Return of Shareholders funds suggests management is less efficient in utilizing its equity base and giving a better return to its investors than it was in the previous year. Gross profit from the year 2008/09 to 2009/10 has declined by 2.4% from 30.8% to 28.4%, this suggests an increase in costs without any corresponding increase in selling price, or/and selling prices have declined due to competition, or the range of goods may have changed to include more products with lower margins. The facts show that the sales revenue has increased by 7% compared to the cost of sales that has increased by 11%; the divergence of figures has contributed significantly to the decline in gross profit. T he decrease in net profit by only 0.5% suggests that overheads have been tightly controlled during 2009/2010. Capello Designs profitability margin figures are falling below the typical profitability gross margin figure of 35% and net margin of 13%. The company can however increase its profitability by reducing costs, increasing turnover, productivity and increasing efficiency, to increase the overall performance of the company. Working capital cycle days has decreased from 81 days to 77 days, trade receivables have decreased by 13 days, while inventory have increased by 13 days which means there has been a reduction in the time taken to collect amounts owed by credit customers, but there has also been a raise in the time inventory is held for, this could also suggest the reason for the difference in current ratio of liquidity in comparison to acid test ratio of liquidity. Trade payables are taking longer to settle in 2009/10 compared with the previous year and has increased for a period of 4 days from 71 days to 75 days. Net Asset Turnover is a measure of the effectiveness with which assets are being used to generate sales and a company would ideally expect to see an increasing trend. However the ratio has actually declined as the growth in sales (7%) has not kept pace with the growth in assets (26%), with particular references to the increases in non-current assets, inventory and trade receivables. The current ratio measures liquidity and solvency, essentially a measure of the businesss ability to meet its current obligations. A generally acceptable current ratio of current assets to current liabilities is 2:1 (Gill Chatton, 2003). The current ratio of Capello Designs has fallen from 1.9:1 to 1.7:1. A lower ratio means that the company may not be able to readily pay off its short-term liabilities or take advantage of any discounts available, overall a weaker liquidity position than the previous year. Current ratios tend to overstate the current liquidi ty position of a company, therefore the acid-test ratios need to be compared. TheÂÂ  acid-test ratio is also a liquidity indicator that further refines the current ratio with the exclusion of inventory (Loth, 2010), a more conservative ratio than the current ratio because of its exclusion of inventory which is more difficult to turn into cash. Therefore, a higher ratio means a higher liquidity position. The acid-test ratio has declined by 25% from 1.2:1 to 0.9:1, the ratio is now less than one, which would suggest that the company cannot meet its current liabilities and that the liquidity of the business is now cause for concern. Furthermore, the acid-test ratio is much lower than the current ratio, which would suggest that current assets are highly dependent on inventory. The combination of ratios would suggest that the liquidity position of the company needs to improve. Various methods in which Capello Designs could do so is by increasing the current assets from loans o r other borrowings with a maturity of more than one year, converting non-current assets into current assets as well as increasing current assets from new equity contribution, or perhaps investing profits back into the business. Gearing Ratio (1) has increased quite considerably from 38.9% to 59.2%. The gearing ratio has increased by over a third, this is a consequence of the significant additional loan taken out during the year. The increase in gearing (leverage) means the company is considered to be more risky than before; because it is more vulnerable to downturns in the business cycle asÂÂ  the companyÂÂ  must continue to serviceÂÂ  its debt regardless of how bad sales are. Interest cover has decreased from 11.3 times to 6.6 times, a reduction of 4.7, which amounts to almost 40%, the gearing of this company needs to be closely reviewed going forward. Capello Designs could consider reducing its loan and maximise the use of its overdraft facility which would help its short term liquidity problem without unduly increasing its gearing ratio. The earnings per share have decreased by 1.1 pence from 27.7 to 26.6 pence which is discouraging. The dividend per share and dividend payout rate has remained constant throughout both years. The dividend yield has reduced by 1.1 however the P/E ratio has increased by 2.6 times from 14.1 to 16.7, giving Capello Designs a greater price/earnings ratio than its main UK competitor. A high P/E ratio is one that has a high price compared with its recent earnings (McLaney, 2009), this implies that investors are more confident this year in the growth of future earnings. However the dividend yield has decreased by 0.5% to 3.6% compared to its main UK competitor with a dividend yield of 4.9%, which is more than a third of an increase of Capello Designs. This comparison suggests that the shareholders of Capello Designs main UK competitor can be more confident that dividends will be maintained as opposed to Capello Designs. Overall the companys performance seems to be deteriorating, in comparison to the typical figures of other companies in the same sector, Capello Designs is not performing as well as it should be, in comparison to the previous year, this year has taken a turn for the worst. Profitability as a whole has declined and there is cause for concern when it comes to the liquidity of the business, gearing, activity and investment. This company needs to be closely monitored over the next few years. Appendix Profitability Ratios Return on Capital Employed Profit before interest and tax x 100 Total assets less current liabilities Return on Shareholders Funds Profit after taxation x 100 Shareholders funds Gross Profit Margin Gross Profit x 100 Turnover Net Profit Margin Operating Profit x 100 Turnover Activity Ratios Trade Receivable Days Trade receivables x 365 Turnover Inventory Days Inventory held x 365 Inventory used (cost of sales) Trade Payables Trade payable days x 365 Credit purchases (cost of sales) Net Asset Turnover Turnover x 365 Total assets less current liabilities Working Capital Cycle Trade receivables plus Inventory days less Trade receivable days Capital Gearing Ratios Gearing Ratio (1) Long term debt x 100 Shareholders funds Gearing Ratio (2) Long term debt x 100 Shareholders funds plus long term debt Gearing Ratio (3) Net Debt x 100 Shareholders funds Interest Cover Profit before interest and tax Net interest payable Liquidity Ratios Current Ratio Current assets___ Current liabilities Acid Test Ratio Current assets less inventory Current liabilities Investor Ratios Earnings per share Profit after tax Number of ordinary shares issued Dividend per share Total ordinary dividend Number of ordinary shares in issue Price/Earnings Ratio Current market share price Earnings per share Dividend Cover Profit after tax Number of ordinary shares issued Dividend Yield Net dividend per share x 100/90 Current market price Dividend Payout Ratio Dividend per share Earnings per share