International Brand - Canon - Resonance Model
Canon
Inc. is a Japanese multinational corporation specialized in the manufacture of
imaging and optical products, including cameras, camcorders, photocopiers,
steppers, computer printers and medical equipment. Its headquarters are located
in Ota, Tokyo, Japan. Canon has built up a strong brand name as a leader in the
camera industry, particularly in terms of service excellence and rapid growth.
Components of
resonance model for CANON:
Salience: To hold a strong position in
the market, Canon has created an effective brand salience that helped itself to
position its name deep into the customer’s mindset. Canon had come a long way
from its humble beginnings in 1933 when it started as a small laboratory
dedicated to making high quality cameras at a simple apartment room in Tokyo.
In those days, all high quality cameras were European, with Germany being a
major player. But in that room, a group of young people with a big dream worked
towards making a high quality Japanese camera, marking the genesis of Canon.
They create a strong brand value in their customer’s mindset.
Brand Performance: Canon has so many
products on the market. They always believe in the performance of their
product. They ensure the product quality to their customers. They give warranty
to their product and people feel safe to buy their product. London, 14 July
2014 – Canon, world-leader in imaging solutions, has risen to 26th place on the
latest Inter-brand Best Global Green Brands list, up from 30th place in
2013.
Imagery: In order to meet the increasing
demand from customers of all tiers of customer profile, they made so many
products with various price and performance. The target market of Canon's
photography products can be divided into two major segments; Demographic
segmentation & Psychographic segmentation. Individuals and families using
photography to illustrate & capture their important moments are grouped
under Demographic segmentation; it uses the common bases of age, gender,
income, ethnic background, and family life cycle. Professional photographers
and highly-skilled amateurs are grouped under Psychographic segmentation; I
think so because its basis follows the following variables: Personality,
Motives, Lifestyles, and Geo-demographics.
Brand Judgement: Customers form brand
judgement based on the different brand performance and imagery associations.
Canon has proved its consistency throughout all these years and has earned the
right to be called a credible brand. Canon is such a brand that people rely on.
The credentials came from the numerous awards that Canon won.
Brand Feelings: Out of all the components
of brand feeling, the one component that customers of Canon feel is the
happiness. They always try to give priority to their customer feelings and
emotions.
Brand Resonance: The main part of
resonance model is loyalty, attachment, community, engagement. Brand Resonance
deals with developing bond and interactions. In order to do that Canon carry
out various marketing stunts and activities to increase engagement, create
loyalty and a sense of community among the consumers. For active engagement,
they do promotion through their social media platforms like facebook, twitter
and YouTube. At the same time they advertise on newspaper, magazine and TV,
that people can attach with the brand. Canon builds their own community forum
where people share their experience about their products and so many things.
Overall, Canon brand elements like logo, tagline and packaging along with
quality create a positive attitude within the people. Canon believes that it actually has larger
goals and it wants people to love and trust them, to build a never ending
positive impression about them.
Recommendation: Canon should consider reviewing
its pricing strategy. Their high category product price is far away from
middle-class category people. And they should also need some change in
advertising strategy. Their number of advertise on the air is very low. They
can come-up with more campaign and advertise that their customers can more
aware and easily recall the brand.
References:
1. http://www.canon.co.uk/
2. WIKIPEDIA
3. http://www.canon.com/
4. http://community.usa.canon.com/
5. http://canoninc100.blogspot.com/
