Canon, the brand name, 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 has made it a company to reckon with. Today Canon is a household name with headquarters in Ota, which is in Japan. It has its regional headquarters in many cities and towns of Europe, Africa, America, Middle East, Asia and Australia.
The company is committed in taking on the world with sheer determination and new concepts. Creating new ideas and new opportunities is its motto and its vision towards the future. It has many competitors and some of them are Nikon, Sony Samsung, Lumix, Pentax, Casio and Olympus.
Product in the marketing mix of Canon
At first Canon, used Nikkor lenses for its cameras but later on in 1940 Canon manufactured its own x-ray indirect camera. In 1958, it introduced a movie camera consisting of canon flex and zoom lens. It was a first of its kind 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 has introduced ‘Green Calculators’. Both their cases lower and upperare made from photocopiers, which are recycled. The packaging manual is also of recycled items. The calculators are power-driven by solar panel and replaceable battery. Thus, the use of energy is reduced and the longevity of battery is increased.
The PGI-5BK ink cartridge is one of canon’s large size products and the logical choice for a printer. Its functional capacity is amazing and excellent. The printing quality of images and texts is exceptional and they do not smear or fade. This black cartridge contains ink capacity of 27 ml and can print unto 500 pages.
Canon’s new DSLR camera has CMOS sensor of 18MP, athree-inch LCD screen, HD video of 1080p, wireless that is inbuilt and the most important part lens kit of 18-55 IS.
Canon’s multifunctional devices are best in terms of quality and durability. The materials used are of superior quality and hence, their sustainability is assured. All their office equipment and products are environmentally friendly and relate to nature. Their aim of re-use and re-cycle products include material re-cycling and thermal re-cycling. This noble aim is appreciated by the world. Their consumer products are energy efficient and are designedin such a manner that all international guidelines are well met.
Price in the marketing mix of Canon
Canon believes that the path to success is through quality and hence they do not compromise with any of their products. While maintaining the level of excellence and the high standard of the product, they have not forgotten their faithful and loyal buyers. The consumer ultimately likes or dislikes the product. To attract the potential as well as loyal shoppers the company has tried to maintain a balance between the selling price and the cost price.
Their pricing policy has guaranteed the consumers that it will charge the least possible amount for every product. However, due to increasing competition, Canon follows the competitive pricing mentality. This is because in printers it has HP as competition. In camera’s there is Olympus, Nikon nad others. In photocopiers there is Ricoh. Thus, competition is everywhere and to keep the upper hand Canon uses competitive pricing.
The company has maintained a price policy that is affordable so that maximum number of people can purchase the products. If the price seems very convenient to the customer then he will be unable to resist it. Canon always has a finger on the pulse of the economic market and it tries to make changes in the product prices according to the trends and demands. All the Canon items are divided into groups according to its suitability and range. It has tried to keep its price down against its main competitors. The best of quality together with the lowest of prices makes it a bargain in the eyes of consumers.
Place in the marketing mix of Canon
Canon has joined hands to form transportation partnerships so that goods are available to the distributors, retailers and consumers at least cost and minimum of fuss. A special part of 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 easily. There are many retail stores where Canon products are sold either, exclusively or with other products. The official dealers of the company provide detailed and efficient services to its customers. In almost all the malls one will find a Canon dealer. Besides the new and latest products, one can also buy the original spare parts at all Canon showrooms and website.
Canon has a well-designed and well-planned website. Every small detail is dealt with perfect and organized efficiency. The pictures of all the products with their price tags, their specifications, latest updates about the models, the best deals and the surprise deals are handled professionally and promptly. Looking at the websites one can decide the best product to suit his pocket and conditions without any interference from others. This helps in making a personally satisfying choice.
The most profitable distribution for canon has been the rise of E commerce retailers like Flipkart, Snapdeal, Amazon, Ebay and others. On these sites, you will find fantastic deals for cameras and accessories. And due to these e commerce sites, the turnover of the company has increased even further. Similarly, Canon has separate channel distribution plans for each of the products. A HP printer dealer is an authorised dealer for cartridges but not for xeroxes or cameras. A camera dealer will be different and a photocopy distributor will be different. Thus, the distribution is done in a planned manner.
Promotion in the marketing mix of Canon
Promotion is the most important aspect of marketing. Canon has an active marketing communication strategy and it includes public relations, advertising, trade shows, selling the product at either shops or via websites. Advertising is an important tool and Canon utilizes it to its maximum capacity. All the detailed information of the product is available to the potential customers through Websites, Mobile applications, YouTube, Facebook, Television, Radio, Newspaper, Magazines etc.
The thorough knowledge helps in creating awareness about the product and its suitability. Sometimes the company Canon also holds promotional displays on internet or malls to highlight its products. Even the packaging of a product is filled with detailed information about the product, thereby attracting the tech savvy customers.
Canon also organizes workshops for the interested individual.The basic theory about photography, and relevant matters are cleared here and thus these prove beneficial to the participants in the long run. The participants in the early stages are amateurs and once hooked to photography become potential buyers.
Canon has provided great products with lucrative offers to boost up its 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 important tool for a product. They have advertised their products with the help of famous personalities. Anushka Sharma, The Bollywood actor is their brand ambassador in India and she has acted in the Canon Power Shot Commercial.