The Marketing mix of Canon analyses the 4Ps of Canon’s marketing strategy, which includes the Product, Price, Place, and Promotion of Canon. The brand name Canon is linked with adjectives like the best and most impressive. It has the distinction of being one of the largest companies related to imaging technology and optical products. This innovative syndicate has many patents under its name. Canon, a Japanese company, was founded in the year 1937. Its knowledge and firm grip on the market have made it a company to reckon with. Today, Canon is a household name with headquarters in Ota, Japan. Its regional headquarters are in many cities and towns in Europe, Africa, America, the Middle East, Asia, and Australia.
The company is committed to taking on the world with sheer determination and new concepts. Creating new ideas and opportunities is its motto, marketing strategy, and vision for the future. Its competitors and target markets include Nikon, Sony, Samsung, Lumix, Pentax, Casio, and Olympus.
About Canon
- Type: Multinational corporation
- Industry: Electronics, Manufacturing
- Founded: 10 August 1937
- Founders: Takeshi Mitarai, Goro Yoshida, Takeo Maeda, Saburo Uchida
- Headquarters: Ota City, Tokyo, Japan
- Area served: Worldwide
- Key people: Fujio Mitarai, Chairman and CEO
- Number of employees: Approximately 180,000
Table of Contents
Canon Product Strategy
At first, Canon used Nikkor lenses for its cameras, but in 1940, Canon manufactured its X-ray indirect camera. In 1958, it introduced a movie camera consisting of Canon Flex and a zoom lens. It was the first in the world and became an instant hit.
Canon has the distinction of being first in many things like the Rangefinder camera, a 10-key Japanese calculator, a camera with single lens reflex, the AE-1 camera with a microcomputer, the world’s first digital camera, laser printer, and many other products like the first copier machine for the plain paper.
Canon’s product and digital marketing mix includes increased sales of a variety of digital imaging products:
- Digital Cameras: Including DSLRs, mirrorless cameras, and compact digital cameras.
- Camcorders: Offering a range of video recording devices.
- Printers: Encompassing inkjet, laser, and large format printers.
- Scanners: Both for personal and professional use.
- Broadcast Equipment: Including lenses for television broadcasting.
- Medical Equipment: Such as digital radiography and ophthalmic devices.
- Industrial Products: Like sensors and broadcast lenses.
Canon Pricing Strategy
Canon believes that the path to success is through quality. Hence, they do not compromise with their products. While maintaining the level of excellence and the high standard of the product, they have not forgotten their faithful and loyal customer groups and buyers. The consumer ultimately likes or dislikes the product. The company has tried to keep competitive prices and maintain a balance between the selling and cost prices to attract potential and loyal shoppers.
Canon’s pricing strategy is multifaceted, balancing customer needs and competitive pricing with maintaining the value of the product attributes of its brand. Key elements include:
- Competitive Pricing: Canon sets prices to be competitive within its various market segments.
- Product-Line Pricing: Different prices for different product lines reflect varying levels of features and sophistication.
- Premium Pricing for Professional Equipment: Higher prices for professional-grade cameras and equipment reflect their advanced features and quality.
- Market Penetration Pricing: Canon may use lower pricing strategies for some new products to gain market share.
- Promotional Discounts and Bundling: Canon occasionally offers discounts, promotional deals, and product bundling to attract customers.
Canon Place Strategy
Canon has joined hands to form transportation partnerships so that goods are available to distributors, retailers after sales service only, and consumers at the least cost and with minimal fuss; the core team handles the details and looks after the distribution policy so that it is a hassle-free journey. Warehouses are suitably located so that the products are at an easy and available distance. All the products are supplied to the showrooms and shops quickly. There are many retail stores where Canon products are sold exclusively or with other products. The company’s official dealers provide detailed and efficient services to its customers. In almost all the malls, one will find a Canon dealer. Besides the latest products, one can buy the original spare parts at all Canon showrooms and websites.
Canon has a well-designed and well-planned website. Every tiny detail is dealt with perfectly, and social media pages are organized efficiently. Pictures of all the products with their price tags, specifications, latest updates about the models, best deals, and surprise deals are handled professionally and promptly. By looking at the websites, one can decide the best product to suit his pocket and conditions without interference from others. This helps in making a personally satisfying choice.
Canon’s place strategy involves:
- Global Retail Network: Canon products are sold through a vast network of retail outlets worldwide.
- Online Sales Channels: Canon leverages e-commerce platforms, including its website, for global sales.
- Strategic Distribution Partnerships: Partnerships with various distributors and retailers to expand market reach.
- Localized Manufacturing: Production facilities in key markets to cater to regional demands.
- Service Centers: A network of service centers to provide after-sales support and maintenance.
Promotion in the marketing mix of Canon
Promotion is the most critical aspect of marketing. Canon has an active marketing communication strategy, including public relations, advertising, trade shows, and selling products at shops or via websites. Advertising is essential, and Canon’s marketing team utilizes it to its maximum capacity. All the detailed product information is available to the potential customers through Websites, Mobile applications, YouTube channels, Facebook, Television, Radio, Newspapers, Magazines, etc.
Thorough knowledge helps create awareness among the target audience about the product and its suitability. Sometimes, Canon also holds promotional displays on the internet or in malls to the target audience to highlight its products. Even a product’s packaging is filled with detailed information about the product, attracting tech-savvy customers.
Canon also organizes workshops for the interested individual. The basic theory about photography and related matters is clear here; thus, these benefit the participants in the long run. The participants in the early stages are amateurs who become potential buyers and professional photographers once hooked to photography.
Canon has provided excellent products with lucrative offers to boost product quality and sales. They have promoted sales by offering gifts on their products, discounts on services, and lucky coupons for the winners. Thus, promotion is the most essential tool for a product. They have advertised their products on social media platforms with the help of famous personalities. Anushka Sharma, the Bollywood actor, is their brand ambassador in India and acted in the Canon Power Shot commercial.
Some Recent Video ads and Print ads of Canon are:
GO. GOAL. GONE | Some things are best left to Canon – YouTube
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what is your data collection of canon
how to be authorised distribuitor of canon??
you should find out the local office of Canon in your city / state. I think Justdial or Sulekha.com can help you with the office addresses of Canon. Depending on your financial status, you can become a retailer / dealer / distributor. For a distributor, they will probably look to some one who has a strong network and who is financially capable.