The Managing Director of Nikon India reveals to neha saraiya how, after entering India just before the slowdown, they managed to rewrite the competition game
B&E: Nikon, started its domestic subsidiary in 2007, which also coincided with the creeping recession. How has the experience been & what have been the key learning?
HT: The camera market for India is very small as compared to the worldwide market and therefore, it has immense potential to grow. Nikon has had a great experience here since the set up of its 100% subsidiary. Over the past three years Nikon has reinstated its commitment to the Indian market and its interest to promote the photography culture in the country. We further plan to scale up our presence across India and reaching out to the consumers in a larger way. In this financial year we would set up more offices across India thus strengthening Nikon’s brand and organisation’s standing in the Indian market. Nikon further accentuates channel development; targeting more than 1,200 retail outlets for in-store branding and more than 200 in-shop promoters in order to facilitate better sales services for consumers. The service base will also be expanded to provide better services to users. Our aim is to be a solution provider and to provide photographers what they need in the most simple user friendly manner.
B&E: Currently Nikon garners around 45% of the domestic digital SLR camera market and 13% in the compact segment. How do you plan to increase market share?
HT: The Indian camera market has been growing and Nikon has been growing even more. Last year was an extremely rewarding year for Nikon; the compact camera market share increased from 6% to 13% and a robust 45% from 37% in the D-SLR segment. Our projections for this fiscal year are robust yet realistic; we aim to touch a 15% & 50% market share respectively in the two categories. Nikon also undertook an initiative of moving from a national distribution network to regional and channel specific distribution hubs ensuring its customers receive enhanced services. This means that Nikon has come closer to its end-users to facilitate the company gaining strength in each potential region. The will also further contribute to camera sales across the Photo, IT & Consumer electronic channel. In order to discourage grey marketing, Nikon along with its affordable range of compact cameras & competitive priced D-SLRs also provides two year warranty for its brands along with a range of promotional offers like free memory cards.
B&E: Any diversification plans on the anvil?
HT: As a leader in image technology world over, we would like to stick to what we are best in, as of now we do not have plans for diversifying. Also, for our two set of audience i.e. the professional photographers and photo enthusiasts in general, we do not want to prioritise the product segments and Nikon has witnessed exponential growth in both. The camera market for India is very small as compared to the worldwide market, but Nikon sees a huge growth potential in India in both segments, we’ll continue bringing imaging technology innovations in form of new cameras in both professional and compact category.
B&E: Nikon, started its domestic subsidiary in 2007, which also coincided with the creeping recession. How has the experience been & what have been the key learning?
HT: The camera market for India is very small as compared to the worldwide market and therefore, it has immense potential to grow. Nikon has had a great experience here since the set up of its 100% subsidiary. Over the past three years Nikon has reinstated its commitment to the Indian market and its interest to promote the photography culture in the country. We further plan to scale up our presence across India and reaching out to the consumers in a larger way. In this financial year we would set up more offices across India thus strengthening Nikon’s brand and organisation’s standing in the Indian market. Nikon further accentuates channel development; targeting more than 1,200 retail outlets for in-store branding and more than 200 in-shop promoters in order to facilitate better sales services for consumers. The service base will also be expanded to provide better services to users. Our aim is to be a solution provider and to provide photographers what they need in the most simple user friendly manner.
B&E: Currently Nikon garners around 45% of the domestic digital SLR camera market and 13% in the compact segment. How do you plan to increase market share?
HT: The Indian camera market has been growing and Nikon has been growing even more. Last year was an extremely rewarding year for Nikon; the compact camera market share increased from 6% to 13% and a robust 45% from 37% in the D-SLR segment. Our projections for this fiscal year are robust yet realistic; we aim to touch a 15% & 50% market share respectively in the two categories. Nikon also undertook an initiative of moving from a national distribution network to regional and channel specific distribution hubs ensuring its customers receive enhanced services. This means that Nikon has come closer to its end-users to facilitate the company gaining strength in each potential region. The will also further contribute to camera sales across the Photo, IT & Consumer electronic channel. In order to discourage grey marketing, Nikon along with its affordable range of compact cameras & competitive priced D-SLRs also provides two year warranty for its brands along with a range of promotional offers like free memory cards.
B&E: Any diversification plans on the anvil?
HT: As a leader in image technology world over, we would like to stick to what we are best in, as of now we do not have plans for diversifying. Also, for our two set of audience i.e. the professional photographers and photo enthusiasts in general, we do not want to prioritise the product segments and Nikon has witnessed exponential growth in both. The camera market for India is very small as compared to the worldwide market, but Nikon sees a huge growth potential in India in both segments, we’ll continue bringing imaging technology innovations in form of new cameras in both professional and compact category.
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Source : IIPM Editorial, 2010.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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