Target Market: LGBT Community LGBT= Lesbian, Gay, Bisexual, & Transgender 6.8% (21,188,250) of Americans identify as LGBT Buying power: $790 billion
Mean Individual Earning and Household Income of Women by Sexual Orientation Mean Individual Earning and Household Income of Men by Sexual Orientation
Why LGBT? Early adopters of technology 70-80% report being influenced favorably by companies advertising in the LGBT media (such as Gay/Lesbian magazines and LGBT Television Networks) and sponsoring LGBT charities More likely to spread positive information about a brand via word of mouth
Competitor Information: Market Share Samadi, N. (2011). Camera & film wholesaling in the us. IBISWorld industry report 42341, Retrieved from http://clients1.ibisworld.com/reports/us/industry/majorcompanies.aspx?entid=926
Competition Casio: the first to enter the LGBT market through Osmosis MediaLab. http://www.adforum.com/creative-work/ad/player/50022 Canon has a new social media campaign: the photochain. Targeting the Instagram generation. Kodak advertises to LGBT but is not a threat.
Promotion of Channel Members The Nikon 1 J2 is already sold at these retailers: Amazon.com Best Buy Target Walmart Retailer RITZ CAMERA, carrying 17.9% of the camera store market share does NOT carry our specific camera model.
Cost Analysis PromotionDetailsEst. Total Expense Magazine AdsGQ --$161,437 Full Page Color 3x Vanity Fair -- $183,433 Full Page Color 3x $344,870 Website Ads2 websites—1 million impressions each. $9,000 Facebook “FOCUS on What Matters” Campaign Low operating costs (since hosted on Nikon’s Facebook Page) Maximum Charity Contributions $100,000 $100,000 Total $453,870
Return on Investment DetailsEst. Total Increase Increase in Sales3% increase in sales$29,000,000 Increase in Social and Charitable Awareness Facebook Campaign promotes not only a product but also a conscientious brand image N/A Total$29,000,000 PromotionEst. Total Expense Magazine Ad, Website Ad & FB CampaignTotal $453,870 RETURN ON INVESTMENT$28,546,130