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/