Canon digital camera: 450,000 global monthly searches; 390 local monthly searches
Nikon digital cameras: 246,000 global monthly searches; 210 local monthly searches
Slr digital camera: 450,000 global monthly searches; 260 local monthly searches
TOTAL:
Global monthly searches: 2,460,000
Local monthly searches: 860
Opinion: the market is good for a new marketer to enter. This is because the above chosen keywords have comparatively higher searchers as compared to others.
Google trend tool clearly reveals a steadily decreasing trend (of the search volume) over the last five years.
The average bid price:
Average CPC: $2.53
CTR: 2.2%
Daily Cost: $1,033.83
Average Position: 1.6
Daily Impression: 18,571
Daily Clicks: 408.88
There are a total of eleven (11) major competitors who advertise in the market. They include Olympus, Samsung, Kodak, Panasonic, Fuji, Pentax, Lumix, Sanyo, JVC, and Casio.
I would still go into this market since the competitors have relatively lower searches.
One way of increasing switching costs is by taking advantage of the ‘contractual costs’. In this case, consumers will agree to soaring switching costs as long as there is an upfront consideration (Edlin and Harris, 2012). Frequent purchase of products from a particular online store can be rewarded through discounts and inclusion of attractive provisions of respective contracts.
Edlin and Harris (2012) reveal that another specific method of increasing switching costs is by increasing ‘search costs’. Consumers are known to make choices after comparing one or more suppliers. They are therefore expected to incur costs as they move from one supplier to another.
Reference
Edlin, S. A., Harris, G. R. (2012). The Role of Switching Costs in Antitrust Analysis: A Comparison of Microsoft and Google. Berkeley: University of …