Canon Marketing Project Essay

Introduction About c any(prenominal)on Incorporation enactment Incorporation is a Japanese multinational partnership that specializes in manu particularuring resourcefulness and optical products realismwide. The lodge manufactures many products like tv television cameras, lenses, camcorders, photo newspaperwomans, right cyberspace multifunction subterfuges, laser printers, laser multifunction devices, solution soft wares and many more fabrication & Business products. commandments headquarters is situated in Ohtaku, Tokyo, Japan. The telephoner was founded on 10th of August in the year of 1937. The connection was founded by Takeshi Mitarai, Goro Yoshida, Saburo Uchida and Takeo Maeda in Tokyo, Japan. When the smart set was founded its name in 1934 was Kwanon named by Goro Yoshida and later in 1947 the name had changed to polity Inc. The present Chairman and CEO of economy Inc. is Fujio Mitarai. The unions prototypal product was Kwanon (1934) the Japan First 35 mm foc al-plane-shutter camera get downd in prototype form.The go with has three divisions Consumer Business unit, contribution Business Unit and Industry & Others Business Unit. The divisions put on spread their products in the following manner Consumer Business Unit digital SLR tv cameras, Compact Digital Cameras, Digital Camcorders, Lenses for SLR Cameras, Compact Photo Printers, Multifunction Inkjet Printers, Inkjet Printers, Commercial Photo Printers, Multimedia Projectors, visit Scanners, cyberspace Cameras and Broadcast Equipment. Office Business Unit Office acquitwork Multifunction Devices, Laser Printers, Lase Multifunction Devices and Solution Software, Toner Cartridges, Digital Production Printers and Large-Format Inkjet printers. Industry & Others Business Unit LCD Lithography Systems, Semiconductor Lithography Systems, Ophthalmic Equipment, Digital Radiography Systems, Document Scanners, ruse Label/ Card printers, Personal Information Products, Handy Terminals, Compo nents, Die Bonders, extreme LED Panel Manufacturing Equipment and Vacuum Thin-Film Deposition Equipment. The lodges stern rise from guiding principles of San-Ji ( terce selfs) that pay off been passed down since canyon was founded they are Self-motivation, Self-management, Self-awareness. These Three Selfs continue to serve as the companys most grave guiding principles. Vision & Mission (2011-2015) Canon Inc.VISIONSimple advance solutions freeing people to live their dreams and lead enriched lives at home and at work. & to be a group of service creation companies that practices the principle of client focus with a global perspective.MISSIONTo provide optimal note value by dint of merchandise innovation that enhances security and peace of mind and supports creative thinking in altogether areas of life, work and society.Canon Incorporation has a DNA. Its called Canons corporeal DNA Canon had been developing clarified Global Corporation Plan since 1996 when Fujio Mitarai be came the Canons 6th company pre alignnt. as three builds till now Phase I (1996 2000), II (2001 2005), and III (2006 2010) which led the company to aim to the worlds No.1. like a shot the company is ready with its Excellent Global Corporation Plan Phase IV for the next 5 fiscal years 2011 2015.The history of the company started with the enterprising spirit to make the worlds best camera. THE TIMELINE OF HIGHLIGHTS & MILESTONES1933 preciseness Optical Instruments Laboratory was established.1934 Kwanon Camera prototype developed.1936 Hansa Canon Camera Introduced.1937 clearcutness Optical exertion, Co., Ltd. was founded.1941 Japans first Indirect X-ray Camera Introduced.1947 The company name changed to Canon Camera Co., Inc.1955 New York branch office opened.1957 Sole European distributor, Canon Europa, established.1961 Canonet Camera Introduced.1964 Canola 130 Calculator Introduced.1967 Cameras in the right hand, business machines in the left.1969 Company name changed to Cano n Inc.1970 PPC-1 hide aligner introduced.1976 Premier Company Plan Launched.1976 AE-1 SLR camera introduced.The worlds first SLR camera with a built in microcomputer1979 LBP-10 Laser printer introduced.1982 PC-10/20 personal write machine introduced.1985 BJ-80 Inkjet printer introduced.1987 CLC-1 digital full-color copying machine introduced.1987 EOS 650 AF SLR camera introduced.EOS AF cameras & lens are one of the best ever produced 1988 Corporate philosophy of Kyosei introduced with the companys second inauguration. 1990 Toner cartridge appeal &recycling program launched. 1996 Excellent global corporation plan launched.2000 Canon Inc. ADRs listed on the New York Stock Exchange.2000 PowerShot S100 DIGITA ELPH (DIGITAL IXUS) compact digital camera launched. Canons PowerShot is one of the bestselling camera brand in the world.2002 EOS-1Ds Digital SLR camera launched.2006 Image PROGRAF IPF9000 printer launched.2007 ImagePRESS C7000VP digital press introduced.2009 ImageRUNNER ADVAN CE network multifunction device introduced.2011 Excellent Global Plan Phase IV launched.2012 striving to develop the best products possible.Canons EOS cameras have the photographic violence to break into the world of movie and television. Even in the Hollywood the admit makers use these camera functions for best results. by means of new inventions, Canon is connected to meeting the ever-growing expectations for digital camera. In 2010, Canon has welcomed Oce N. V. of pull inherlands into its group which helped canon to be the one in worlds best printers manufacturers. Canons equipment is also used widely in the Medical treatments in Japan and United States which led to many prospered surgeries. In these ways, Canon is applying leading-edge imagery technology toward making peoples lives healthier. The company has an enormous amount of production units around the world in the most optimal locations worldwide. Knowing that earth-friendly production is vital for the future, Canon relentlessly continues its focus on globally optimized production.The Companys all Corporate Activities includeResearch & Development (R&D), Design, Procurement, Production, Distribution, Sales & trade, Post-Purchase Services, Recycling, Environment, Quality. Corporate Social office (CSR). Business Highlights & Global ranking 2010Canon was graded in 216th for Net Sales Globally by FORTUNE Global 500 (Fortune, June26 2010 Issue). It was ranked in 190th in 2009. Canon was ranked in 202nd for Net Income Globally by FORTUNE Global 500 (Fortune, June26 2010 Issue). It was ranked in 131st in 2009. Canon Inc. was ranked in 93rd for Market Capitalization by FINANCIAL TIMES Global 500. It was ranked 10quaternary in 2009.* Canon Inc. was ranked 7th in Technology Hardware & Equipment sector by FT Global 500.* *Financial Times, May 29/30 2010 Issue Canon Inc. was ranked 4th in the TOP TEN U.S. patent holders. i.e. 2,543 in No. of Patents. * base on weekly patent counts issued by the U nited States Patent and stigmatize Office. Canons EOS cameras have the photographic power to break into the world of movie and television.Even in the Hollywood the film makers use these camera functions for best results. Through new inventions, Canon is committed to meeting the ever-growing expectations for digital camera. In 2010, Canon has welcomed Oce N. V. of Netherlands into its group which helped canon to be the one in worlds best printers manufacturers. Canons equipment is also used widely in the Medical treatments in Japan and United States which led to many achievementful surgeries. In these ways, Canon is applying leading-edge imaging technology toward making peoples lives healthier. The company has an ample amount of production units around the world in the most optimum locations worldwide. Knowing that earth-friendly production is vital for the future, Canon relentlessly continues its focus on globally optimized production.The Michael Porters five competitive forces Ca non Inc.1. brat from potential new entrantsThe Canon Incorporation now in the imaging industry has an ample amount of considerable standard as well(p) as many competitors at the same time. But the company endlessly needs to be deliberately inflame to have a look at new entrants ready to break into the industry. It does have a affright from the new companies. The Canon Inc. has to be concerning about the measurable factors like impairment they throw newly into the grocery store and product range they throw in the market. Bigger the new entrant, the more severe the competitive effect would be. If any new companies who come into the industry of imaging and printing impart have the ability that can shift the interest of canon guests towards their brand then, the company will surely have to take care of the existing standards, as to how did the new company tried to take the minds off from the Canon. The company shall take up the strategies to avoid that situation with hitting p romotions that will never device up the customers towards other companies and brands.2. Bargaining power of customersLike it happens in the smaller scale companies the users of industrial products come never together exert insisting on the producer directly. The company receives the competition in this aspect indirectly may be not because of the direct bargaining of customers but, the willingness of the customers to pay such(prenominal) price for the product is all that matters and concerns. The Canon Inc. shall keenly receive the right feedback about the price and willingness of customers to pay the price for their products from all the parts of the world. Through this measure the company can not only avoid the stuff upon the prices that the company charges but also upon the costs and investments.3. Bargaining power of suppliersThe company will also have the pressure from the suppliers side in bargaining. Suppose the Canon Inc. needs the plastic material to switch their prod ucts, if the suppliers for the plastic i.e. the raw material to the company are very(prenominal) exceptional and the company have the situation only to depend upon them, they supplier will obviously have the chance and opportunity on the price they were paid. The company has to look at this important force.4. Rivalry among the current playersThe three important things to be kept in concern for Canon to overcome a lot of heavy competition from the already existing companies and brands are(I) Prices that keeps on changing(II) Advertising and(III) Pressures on Costs, Product and so on.Mainly a heavy competition often imposed in the same industry in the market are from Nikon, Olympus, Sony, Fujifilm, Panasonic, Kodak, Samsung in the industry of camera (SLR and Compact) manufacturing. Nikkor AF from Nikon, Carl Ziess, Olympus Zuiko/ M Zuiko, Sigma, Tamron, Tokina in the industry of lens manufacturing. Nikon, Metz, Olympus in the industry of camera accessories manufacturing. Hewlett-Pac kard, Xerox, Ricoh, Samsung, IBM, NEC, Panasonic, Sony, Benq, LG and so forth in the industry of office equipment, heavy printer, scanner, projector etc. manufacturing. Therefore because of such a heavy competition from many companies Canon Inc. has to be awake all the time with regard to the strategies, policies, promotions and prices of its competitors and plan the strategies accordingly.5. Threats from substitutesThe threat from the substitutes is in fact most unsafe threat unlike others. Here it would be very severe because the product itself is getting substituted. For example, the mobile phone with a trusty camera facility to some extent substitutes the cameras at times. Therefore the bottom people has to be educated about the advantages of the companys products and service properly. If the new product in the market substitutes the trend of the product then, the company has to care about their new products which would substitute the competitors products or at least competes with them.Corporate Social Responsibility (CSR) form _or_ system of authoritiesCanon expresses its appreciation through its CSR (Corporate Social Responsibility) activities. In Vietnam, the focus is on the younger generations. Canon CSR activities also include support for the building of indoctrinates, volunteer projects in which the companys employees help repair school facilities and plant trees, and donations of school supplies. At the heart of Canon CSR is the hope that the companys ongoing efforts may help nurture the next generation of leaders.Marketing Policy of Canon Inc.Canon Inc. prefers to always take effort to achieve success in marketing unlike the product, sales & production fields. The marketing model of Canon Inc. holds that consumers prefer to buy a product that best satisfies their needs. The main(prenominal) focus of the company is to know and understand the consumer needs and then produce products that satisfy their needs. According to Philip Kotler (One of the worlds most leading governance in marketing management), Canon is one of very few handful number of companies which actually practice the marketing concept. Canon Inc. focuses on the customer and is organized to respond hard-hittingly to changing customer needs. The company has well-staffed marketing departments.Canon Inc. manufactures fax machines, printers, network devices, projectors etc. and sells them to various consumer, business and government markets. It makes the company benefited selling its goods to diverse set of markets. (As according to the statement precondition in the companys official corporate profile) Canon companies worldwide do more than ordinary conventional sales and marketing. The thing that makes that more applicable is its one of its kind & unique customer services. They use leading-edge information and communication technology to connect consumers to the latest products, services and tailored solutions. Canon Inc. is a big family, which has sprea d to about 180 countries and regions. They develop trust and written report for strength and reliability.The main step of Canon Inc. that really makes its marketing policies efficient is its GLOBAL SALES & MARKETING FRAMEWORK. This enables Canon Inc. have Regional Marketing Headquarters like Canon U.S.A, Canon Europe, Canon China, Canon Australia and Canon Marketing Japan. They make marketing policies not globally but all according to the regions local market. This step was taken to amend the quality of marketing policies suitably according to the regions. Not all the regions would have the same kind of market every region would have a different market. These regional heads make the policies individually suitable to different markets. unsounded number of staff like marketing managers etc. researches the local market and makes policies accordingly to the local market. This helps the company in a very effective way because of its one of its kind planning of marketing policies indi vidually through regional marketing head offices. 1 . (Page 13, Philip Kotler, Marketing Management, Millennium Edn., ordinal Edition Pearson Publishing, US. ISBN 0-536-63099-2).