situation analysis report canon inc

Lecturer:Ms.Pham HongHoaClass:ISB-BBUS8.4 download by : skknchat@gmail.com... Publics 2.Macroenvironments a.Demongraphicenvironment b.Economicenvironment c.Naturalenvironment d.Technolgi

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Lecturer:Ms.Pham HongHoa

Class:ISB-BBUS8.4

download by : skknchat@gmail.com

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A.SituationAnalysis

1.Companydescription

a.History b.Missionstatement c.CEO

2.Productdescription

a.Introduction b.Features

B.MarketingEnvironments

1.Microenvironments

a.Aboutthecompany b.Suppliers

c.Marketingintermediaries d.Customers

e.Competitors

f Publics 2.Macroenvironments

a.Demongraphicenvironment b.Economicenvironment c.Naturalenvironment d.Technolgicalenvironment e.Politicalenvironment

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D.References

E Appendices

| Delighting you always

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toestablishthecurrentCanonCo.Atthebeginnig,alproductswerenamedKwanon,whichmeans

theBuddhistGoddessofMercy.Itwasnotuntil1935thathename“Kwanon”waschangedinto

“Canon”andthisnamewasregisteredasthetrademarklogoofthecompanyfrom thenon.In1937,

PrecisionOpticalIndustry,Co.,Ltd.wassetupwithMr.TakeshiMitaraiasPresident,tenyears from whichitbecameCanonCameraCo.,Inc.Sofar,Canonhashadmanybranchesaroundthe

world.CanonalsoopenedtheirfirstfactoryinVietnam,makingtheirwaytothismarketplacein

2002.TherearecurrentlythreeCanonfactoriesinthecountry

b.Missionstatement:

Recently,asthereareanincreasingnumberofcompaniesmanufacturingimagingandopticalproducts,itisachalengeforCanontomaintainitscomparativeadvantagesintheindustryandto thecustomers.Therefore,thecompanyaimstodoseveralfurtherresearchworktofosterinnovationandstrengthentheircameraandprinterbusinesses,aswelasinvestingmoreindevelopingfournew corebusiness,whicharehealthcare,networkcameras,commercialprintingandindustrial equipment

Canon'sphilosophyis'kyosei'.AccordingtoNguyen(2016),itmeans'co-living'inJapanese Withthatstatement,Canontriestomakepeopleofalculture,customs,languageandracesliveand worktogetherinharmony.ThisiswhyCanondecidedonthetagline“Delightingyoualways”to

representtheirbusinessmotives.Toachieve'kyosei',CanonhaslaunchedmanyCSRand consciouscampaignssuchastheCanonBirdBranchProject,WidlifeAsWeSeeIt

environment-etc.toimprovetherelationshipbetweenCanonandcustomersaswelasthesociety

c CEO:

ThecurrentlyassignedCEOandChairmanofCanonInc.isMr.FujioMitarai.Hewasfirst appointedPresidentofCanonInc.in1995andhasbeenchairmanandCEOofthecompanysince 2006duetoachangeinthecompanystructure.

2.Productdescription:

a.Introduction:

Canoncamerasareoneofthebigtoprivalsinthecameraindustry,withmulti-segment productsrangingfrom compactdigitalmodelstohigh-endprofessionalDSLR(dgitalsingle-lens reflex)ones.It'salsobecauseofsuchmulti-segmentedproductsthatconsumershavemorechoices whentheydecidetobuyacamera,suchasacompactcamerafortravelingorabulkieronewith

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providingemploymentformorethan25,000people,Canonalsomakesoutstandigcontributionsto ourcountry'sdevelopmentthroughitsmeanigfulsocialactivities.Besides,CanonMarketing Vietnam Co.LtdwasfoundedinJuly2012andhasalsobeenoperatingtomakerealcontributionsto Vietnamesesociety.

¨ Financing:

AccordingtoHistoricaldataofCanonGlobal2017,Canonnetsaleshasreached¥4,080,15 milion,increased¥678,528milionincomparedwiththenetsalesin2016.Thesefiguresstrongly showthatCanonInc.isdevelopingtheirfinancialdepartmentwiththerightstrategy(seeAppendix2)

b Suppliers:

Suppliersplayanimportantroleinanycompany’soperation.EstablishedinJapan,Canon choosesOitatosetuptheirtwolargestproductionfacilities:OitafactoryandAkifactoryfor manufacturingaswelasresearchdevelopmentandthereforemakeJapanesebecomeaprocurement

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baseforitssupplier.Thesemanufactorieswiththemostadvancedtechnolgyandthestrictnessinworkingprocess,Canontakesprideinbeingamanufacturerthemselvesforover75yearstoprovidetheircustomerswiththehighestquality.Byusingmoremachineswithhighproductivity,Canon’syieldwilincreasefrom 43% in2014to60% in2018accordingtoFinancialTimeswithmoreandmorecredible“MadeinJapan”products.

uploadhigh-definitionphotosonline,asanefforttoreform consumers’habitofusingtheconvenientsmartphoneforcapturingmoments.Astheresultingeffect,Canonadsoftentimesfeatureyoung,

influentialfacestraveling,sometimeswithahintofhumor.Asahigh-involvementproduct,Canon hassmartconsumerswhoareawareofthevaluetheyseekinaproduct,areabletocomparebetween

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TheDSLRsegmentisNikon’s

Mostcommonly mainfocus,asitstechnolgyis

15,000,00VND characterizedbyainnovative 40,00,000VND processingenginesupported

-byaconvenientavailability PentaxDSLRsarereasonably

pricedconsideringitsdesirable

Mostcommonly

features.However,theyhave15,000,00VND

notofficialyjoinedthe-35,000,000VND

shooting.However,thereare fewoptionstochoosefrom.

Sony’scompactdigitalcameras

areendurableinharsh conditions,whilealso

9,000,00VND

-25,000,000VND

highlightingspeedandauser-friendlyinterface.Theyare

modernlydesignedwitha reasonableoptionsrange.

ThissegmentofPanasonic’s cameraspresentitselfasal-

seasonsadventurecamerasfor

11,500,00VND action.Theyarealsowifiready 32,000,000VND withcompactdesignthat

-comesinavastvarietyof

choices.Itsdownsideishigh

pricing.

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characterizedbyimpressive

7,000,00VND

shootingspeedandportable-15,000,000VND

smalercustomersegment ofyoungpeopleonly Film camerassuitthetaste ofold-schoolphoto-takers wholikethingsvintage.As 2,000,00VND anichemarket,this -5,000,00VND segmentisnotamain

strategicfocusof manufacturersandisnot widelyavailable High-end smartphones are

High-endsmartphones equipped with easy

point-arepricedat and-shoot photography

features providing high 15,000,00VND

-30,00,000VND quality shots at the expense

of your mobile device.

· Citizen-actionpublics:TheVietnamesePhotographyAssociationisactiveinhosting

photgraphycompetitionstoencourageandpromoteprofessionalandsemi-prophotography

· Generapublics:Theyoungandgrowingworkforceaccountfor~53% ofVietnam’spopulation, themedianageofwhichis29.Vietnam expandingmiddleclasswhoareconnectedandsmart

consumersandhaveahighspendingcapabilityisexpectedtodoubleby2020.(Dinh,2016)

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· Canonuserspublics:ThispublicgroupaffectsCanoninafundamentalwayasthey,as

experiencedusers,freelyshareaboutthesecamerasundertheformofacritique.Badreviews

receivedwouldundoubtedlyaffectCanonsales

· Mediapublics:Vietnam pressisrelativelypowerfultowardsthepublic,thoughfreedom of speechandinformationisnotwelpracticedonmatersheavilyrelatedtopoliticalissues.One

channelofmediabeingexploitedefficientlyissocialmedia,especialyFacebook.Theyarealso amorepowerfulpublisherofaforementionedcritiques

gradualintegrationintotheglobaltradingandinvestmentsystem”(WTO).Thisopensthegatefor foreigninvestorstocometoVietnam.AfterWTOaccession,Vietnam experiencedasurgeinforeign directinvestment.MoreFDImakesthecountryacompetitivemarketfordifferentcompaniesinthe samefield.Comingintothismarket,foreigncompanieshavetodealwithdifferentchalengeswhich Vietnam isfacingsuchasinflation.Nevertheless,Vietnam isstilbelievedtobecomeoneofthe

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ThetechnolgyofVietnam isstilpoorandonthetrackofdeveloping,howeveruntil2017

thereisastarlingpacingoftheinnovationglobalindexshowingthatVietnam isseriouslyinthe

processofpromotingindustrializationandmodernization.Lookatthesurveyofglobalinnovation indexin2017,Vietnam hasincreasedremarkablyfrom 59thupto47th,however,thereisstilclearlya gapintechnolgybetweenHongKongandMalaysia,thisisrequiredVietnam tomakeahugeeffort

tocatchupwiththetopinnovationcountriesinAsiaasglobal.Therefore,Vietnameseworkersneed totakemoreeffortinabsorbingthecreatvityenthusiasm andespecialytheskilandknowledgeof

Vietnam alsohasalowIPindexstandardforinternationaltrade,especialyintermsof

WTO,folwingitsaccessiontotheWorldTradeOrganization(WTO)inJanuary2007.The

countryhasupdateditsIPlawstocomplywiththeAgreementonTrade-RelatedAspectsof

IntelectualPropertyRights(TRIPs),whichsuggeststhatVietnam iscurrentlyatemptingtoaddress concernsofintelectualpropertyrights,whichhasbeenascendigamongrightsholdersthat

Vietnam'sIPauthorizationframeworkhasnotyetgrownadequatelyenoughtocontrolthequick

developmentofpiracyandcounterfeitingdespitethesignficantadministrativeworkfinishedinthe courseofrecentyears(gov.uk,2017)

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Milenialwhite-colarworkersenjoymoretotheirlifethanjustthebasics.Theyoung

generationaretrend-folwerswhoarefamiliarisedwithhigh-technolgyandarewilingtopayfor

leisureproductslikecameras,akindof“affordableluxuries”(Chu,2017).Thisistosaythat VietnamisaneverpotentialmarkettechnologyenterprisesincludingCanontooptimalyapproach andexploit

C.SWOTanalysis

Strength

· Customer loyalty: Canon has built a

stable brand image through a lot of potent

marketing campaigns and high quality,

endurable products that are always launched

with commitment As a result, the company

gradually earns a strong, loyal customer base,

which distinguishes them from many other

companies.

· Strong Product Portfolio: Canon targets

various segments as they diversify their product

portfolio by producing a wide range of products to

appeal to different customer groups This helps the

company to be less dependent on just any

particular segment, therefore minimizes risks.

· Strong and diversified

manufacturing operations: Whenever entering

new markets, Canon builds their own facilities

and labour rather than outsourcing, so the

products will always be of best quality and

low production cost, making production most

· Defects : Despite superior technology, due to cursory releases, Canon made some mistakes with their products, of which a typical case is sensor defects spotted of their Rebel T6s and T6i (dpreview, 2015), which caused much damage to brand image.

•C anonnowadaysismostfamousfortheir imagingproducts,whiletheirother investmentsarenotasworld-widelyknown thusleadingtoalackofcustomer

awarenessincomparisonwithotherbrands

Threat

• G · Rapid changes in technology: Innovation rowth in the digital printing industry: the in smartphone cameras threatens the digital printing market in 2020 is whole camera industry Canon and all estimated to be approximately twice as other companies specializing in cameras busy as in 2013 In addition, inkjet printing

need to quicly adapt to the situation to avoid being obsolete in this industry.

is very strong in the present and going to

contribute a great part of the segment.

he US economy has been healthy recently, anon has a lot of strong competitors in all with the GDP growth being stable at 2-3%, kinds of product, such as cameras (Nikon, unemployment being in natural rate, and Sony, Samsung, etc.), inkjet printers (HP,

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13 inflation or deflation in control It is a Dell, Panasonic, Samsung, etc.) and so

perfect time for all the industries in the US on.

to develop (CNBC, 2017).

rowing medical device market: Canon has aw material price sometimes

decided to invest in the world’s medical unexpectedly increases, causing

device business as it is perpetually production cost to fluctuate and the

expanding company’s profit affected.

Parent- Middle & Upper *Benefits: Affordable

based class price & convenience

*User status: Potential

users & 1st time users

*Usage rate: Low &

Medium

ADULT SINGLES *Age: 18+ *Lifestyle: Active *Occasions: Special Urban areas

& FAMILIES *Income: *Social class: Occasions

Middle & Middle & Upper *Benefits: Affordable

high income class price & convenience level *User status: Regular

users, Potential users & 1sttime users

*Usage rate: Low &

Medium BEGINNERS TO *Age: *Lifestyle: Active, *Occasions: Regular Urban areas PHOTOGRAPHY Mainly 18- Adventurous, Occasions & Special

42 Achievers Occasions

*Income: *Social class: *Benefits: Good

price-| Delighting you always

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Middle & Middle & Upper quality proportion high income class *User status: Regular

level users, Potential users & 1st

time users

*Usage rate: Medium &

High AMATEUR *Age: *Lifestyle: Active, *Occasions: Regular

PHOTOGRAPHE Mainly 18- Adventurous, Occasions & Special

RS 42 Achievers Occasions

price-Middle & Middle & Upper quality proportion high income class *User status: Regular

level users & Potential users

*Usage rate: High

PROFESSIONAL *Age: *Lifestyle: Active, *Occasions: Regular

PHOTOGRAPHE Mainly 18- Adventurous, Occasions & Special

RS 42 Achievers Occasions

price-Middle & Middle & Upper quality proportion high income class *User status: Regular

level users & Potential users

*Usage rate: High

a.Reasonsforthisdecision:

● Amateursegmentation

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Theconsumermarketisnowbeingdominatedbytheconnectedspenders,whichis

speculatedtoaccountfor40% oftheglobalpopulation.ConnectedspendersareaconsequenceoftheinnovationintechnolgywhichenablesanincreasingnumberofInternetuserswhoarewilingtospendatheirdiscretionaryincomeandhavehighInternetpenetration.Youngpeopleaged25-34,alsoknownastheMilennials,makeup31% ofthisconsumerforce(Nielson,2015)

dominanceasitcatersforbusyMilenialswhopreferconvenienceoveral,thedominantstrategyfor Canonisnottoconventionalypromotetheirsuperiorfeatures,buttofocusondepictingtheir modernlydesignedcamerasinawaythatconnectswithbuyers.Ultimately,Canon’samateur

customerpsycholgyinVietnam andtheworld,ingeneral,maybenotwilingtopayfortheproduct

withsomespecialfeatureswithhigherprices,Canoncustomerslookingforaproductwith

satisfactorypriceandhighquality.However,forthehigh-endproduct,Canonalsoproposethe

productwithspecialqualityandrobustcamerafortheoneseekingforthebestwithpremium prices Therefore,CanoncomprehensivelyconcentrateonR&Dtomakeitsproductmeticulouslyadvanced

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a Imagedifferentiation :

Canonischaracterizedasoneofthemostfamousandatractivebrandsintheworldaswel asanimmerseextensioninVietnam.Hence,thenumbersoffansandloyalcustomerarehuge,the demandfortheproductispowerfulwhichrequireCanonandtheotherbrandlinestorunbusiness effectively.Thesedays,customershavenumerouschoicestopurchasedgitalcameralineswith differentpricesandqualitydependonthenormalorluxuryproduct.Canonalsoconstantlycatchup withthenewtrendofcameradesign,theappearance,thepurpose,thequalitytomeethedemandof eachsegmentationcustomersbygivingastaticalyinsighttheirbehaviorandbuildingthelong-termplanforimprovingproducts

Appendix5shows2015digitalcameramarketshareinJapan,whichwascalculatedbyIDC Fordifferentbrandsales,Canonranksthe1stplaceswhileSonyandNikonaresmalerand

accordingtosomesearchaboutcustomersinterestsincamera,mostofthem choosetherenown nameslikeCanon,Nikon,SonybutmostofalCanonisthemostpopularcamerabrandsandits

alsooneoftheimportantcompetitiveadvantageofCanon.(RefertoAppendix6)

a.Peopledifferentiation:

StaffofCanon.Incalwaysputcustomers’satisfactionathetopoftheirpriorities.Theirgoal istocreatethehighestqualityproductstobestsatisfytheircustomerswiththeslogan“Delighting youalways”

4.Positioning:

I Positioningmaps

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Inthemarketofcameras,althoughCanonhastocompetewithmanycompetitorsindifferent atributestoatractconsumersbuyingtheirproducts,thiscompanyisstilmaintanigtheirposition insupplyingtheircustomerswithvastvarietyofcameraproducts.BesidesInterchangeableLens DigitalCameras,DigitalCompactCamerasandmanydifferentlines,Canonalsoproducescamera whichcontainotherfunctionsforvariousdemandsuchasStilVideoCameras(1986–1992),

MovieCameras(1956–1982)orDigitalCinemaCameras.Thesecamerasprovideuserswith

greaterfreedom foron-locationshootingtomeetawide-rangeofprofessionalneedsforsuch productionsasmovies,TVdramasanddocumentaries.Thisfeatureisanimportantatributeto makeCanonsuccessfulinbecomingoneofthefirstchoicesofcustomerswhenbuyingcameras

ComparingtothedirectcompetitorssuchasNikon,Sony,Samsung,etc.Canonoffervarious typesofcamerafordifferenttarget,sothatalthoughtheirproductwiththesamequalitybuthigher pricethanotherbrands,Canonstilbecomethebestchoiceofcustomersincameras.Moreover, Canonisalsoknownasaprestgiousnameinthecameraindustrywiththesalesof¥4,080,15

milionin2017(CanonGlobal),Canonismaintanigtheirpositionwithaveryprofessional

strategies

Positioningmapbyvariety

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