Nikon India to increase their budget by 2X; Signs Priyanka Chopra as brand ambassador

Yesterday, 15th March 2011, Nikon, India, announced the launch of its latest COOLPIX Spring Series 2011. The collection includes 10 new cameras with advanced features and characteristic picture quality and is available in 39 radiant colors. The company also introduced the prima donna of Bollywood, Priyanka Chopra, as its brand ambassador.

Nikon also took this opportunity to announce their plans for the next financial year 2011-2012. After their success in the Indian market this year they plan to double their budget from Rs. 62 crore to Rs. 120 crore.

Commenting on the launch, Hiroshi Takashina, Managing Director, Nikon India, said, "In the past two years, India has been a high-powered growth market for us, by achieving phenomenal results beyond our expectations. We have already built up strong position of around 20 percent market share in Compact Camera segment. As a leading brand in India, we are planning to expand the market share to 25% in the coming fiscal year 2011-12, with the introduction of 10 new cameras. In order for us to achieve our goal, we are really happy to have the gorgeous diva of bollywood Ms. Priyanka Chopra on board. Nikon is an aspirational brand and so is the charm and personality of Priyanka who the young India looks up to as an inspiration." He further added, "Our new brand ambassador is a dedicated, hard-working professional and a leader in her discipline having been highly awarded and praised for her contributions in the acting field. There is a great synergy between Nikon and Priyanka as both are professional and dynamic; we believe our association will go long way in days to come"

Speaking on the marketing strategies, Sajjan Kumar, G.M- Imaging, Nikon India, said, "We currently have a 25% market share in compact camera as a category and we are already leading in the DSL category. So we would like to maintain that." He added, "The Current revenue in 2011 March is Rs. 450 crore and next year will double to Rs. 900 crore.

Kumar states, "In the recent past we have been aggressive in above-the-line activities Apart from various below-the-line activities. However, with Priyanka as the brand ambassador we will be more aggressively visible."

Kumar explained that they would be targeting smaller markets as well as metros and have created zones in Nashik, Udaipur, etc. Till date Nikon has attained 75 zones and by the end of March aim to attain 80 zones. Their primary focus will be on smaller cities. Nikon has a 65% sale rate in metros and 35% in smaller cities however their studies show that the sales is faster in smaller cities and a lot of it has to do with pricing.

On becoming the Nikon Brand Ambassador, Priyanka Chopra said, "Some of my best memories have been captured on a Nikon. I am very excited to be associated with a brand that is not only renowned for its superior quality but also one that has helped us capture and retain so many special memories lasting a lifetime. With its pioneering COOLPIX series, Nikon easily brings out the photographer in every one of us with its affordable, yet exclusive collection of compact cameras. Get your self a Nikon today and let the magic take over...After all a picture speaks a thousand words!"

The latest Spring COOLPIX series has a striking new style, coupled with advanced technology, provide an extraordinary photography experience. With this addition, Nikon will now showcase a total range of 15 digital compact cameras. The current launch includes the models - P500, P300, S9100, S6100, S4100, S3100, S2500, L120, L24 and L23, adding to the existing range of P7000, S1100pj, S80, S8100 and S5100. The entire series is available in all retail outlets and exclusive zones of Nikon across India and is competitively priced between Rs. 4, 990/- and Rs. 26, 950/-

Kumar ends by saying, "we believe that we must reach the customer in the most user friendly, easy and simple manner and will always prefer to provide him with a quality product." | By Vanessa Azavedo [vanessa(at)adgully.com]