Hogan flawed article "What Constitutes Value?"

Started May 1, 2013 | Discussions thread
Eamon Hickey
Veteran MemberPosts: 3,166
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they won't take your advice
In reply to dinoSnake, May 1, 2013

dinoSnake wrote:

If ANYTHING can be said of Canon / Nikon is that their slower development process only HELPS their bottom lines; consumers buy a camera that they know will retain value for several years, consumers invest in a camera that they know they can buy add-ons and accessories for several years to grow with them and still be perceived in the market as a "current" user, etc.

My suggestion to these companies?  SLOW DOWN.

I'm sympathetic to the frustration with seemingly endless, relatively minor product upgrades, but, alas, your advice flies in the face of decades of consumer product sales trends, and the camera business is no exception.

And in fact it was Canon who pioneered shortened product life cycles in the camera business, beginning in the late 1980s, and they soon threatened to drive all -- and I do mean all -- other camera companies out of business. For at least a couple of years in the mid 1990s, Canon was the only profitable consumer camera manufacturer -- the only one; chew on that fact for a little while -- and a big reason (not the only reason, but a major one) was that they iterated new products about twice as fast as anyone else.

Canon's competitors learned their lesson, and that's why you see many camera companies now able to operate on 12 and 18-month product life cycles, instead of the 36+ month life cycles that had been traditional. Canon dragged them into the 21st century. I had a front row seat on all of this, since I worked for one of those competitors (Nikon) and got buried under Canon's avalanche of slightly upgraded Rebel after Rebel after Rebel.

It's simple: I doubt whether there's a more powerful marketing message than "New". It creates interest, and parts people from their money. The only other marketing messages that might be as powerful are "this is cheap" (or its corollary: "on sale") and "this will make you sexy".

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