CANON VIETNAM CO. LTD AND ITS MARKETING.DOC

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CANON VIETNAM CO. LTD AND ITS MARKETING CANON VIETNAM CO. LTD AND ITS MARKETINGI. INTRODUCTIONNowadays, the economy of the world grows significantly. The demands of consumers increase, all companies must satisfy them to exist. Marketing is important part of all businesses that helps them achieve success. It is large scale that includes many things, such as researching customers, promoting the products. Marketing has many ways to define and many concepts to achieve which depends on ability and target of company. Canon Inc. is a multinational corporation that specializes in the manufacture of imaging and optical products, including cameras, photocopiers, steppers and computer printers. Therefore, Canon cannot lack marketing orientation that everything focuses on needs and wants of customers. Canon operation is not harm to environment, so its marketing approach is societal marketing. All business situations or not business situations of the company observe this approach. Because of this, Canon achieved many success and become famous brand of its field in the World.The first purpose of the report is to introduce marketing orientation of Canon that affirms its operation trend, such as its organization structure or strategy. Moreover, this report analyzes Canon Vietnam marketing activities in detail to help readers have clearly view about business of Canon. Besides, it proposes projects that help Canon promote two printer lines that are SELPHY and Laser printer, to Sales Director. The method used to conduct this research is using secondary data from previous studies on course books, reference books and internet. They are reliable sources such as BPP Professional Education, Canon Vietnam and Philip Kotler author and so on. However, this report still has limitation. Firstly, it did not mention to marketing process. The second is marketing mix which is important elements of marketing is not analysed in detail. Finally, situations relate closely to products are not stated, such as total product or distribution channel, etc. Page 1CANON VIETNAM CO. LTD AND ITS MARKETINGII. BASIC CONCEPT OF MARKETING1. What is Marketing?Nowadays, marketing is an important part in all enterprises. Market is battlefield that many companies compete with each other to have large market share. Which company has best marketing, it will win in this fight. Marketing has influence in whole process from researching to selling products. The purpose of marketing is to help companies find the best way to produce and support new products to the market by researching customers’ needs and wants to satisfy them. The following is some marketing definitions:Chartered Institute of MarketingPhilip Kotler American Marketing AssociationDefinitions Marketing is the management process which identifies, anticipates and supplies customer requirements efficiently and profitably.(BPP Professional Education, 2004, p8)Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others(Philip Kotler, 2000, p4)Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals.(BPP Professional Education, 2004, p8)Similarity To concentrate on customer.Differences - Management process.-To focus on customer requirements efficiently and profitably.- Social process.- Creating and exchanging products and value with others- Process of planning and executing.- Completing previous definitions, satisfying both organization and customer with 4Ps.It is easy to realize that the improving in marketing concept increases more and more. However, they can be separated to two periods that are classic marketing and modern marketing. Originally, when marketing concept just appeared, the economy had not developed, supply is bigger than demand. Therefore, suppliers have power to decide what products are bought through their own experiences.Page 2CANON VIETNAM CO. LTD AND ITS MARKETINGBut nowadays, the economy is developing. Customer demands are advanced. Thus, to keep with development of economy, the definition of marketing must change. The companies have a process to understand customer demand and their objective is providing customer satisfactions. Moreover, there is not only customers are satisfied but also organizations’ goal is emphasized. To modern marketing, the risk in business is reduced many times. As a whole, marketing concentrates on satisfaction of customer demand, requirement.2. The main characteristics of marketing orientated organization for CanonMarketing orientation is that a business strategy whereby customer’s needs and wants, as identified by the marketing function, determine corporate direction (Marketing MiMi.hu, n.d). Canon Inc. is a marketing orientated company. It is easy to realize because of its products. The new products of Canon are made by concentrating on customers. SELPHY ES3 & ES30 provide intelligent functions and attractive looking figures and offers users not only convenience, quality and versatility but also a unique lifestyle. Moreover, they have good looking shapes that best fit in home interior and irresistible effects that bring charm to users' photos, come with over 10 image effects, 3 of which are brand new that are Starlights, Nostalgic, Modern bright & Pinhole. Besides, Canon introduced the Laser Printer LBP3250 and the colour laser printer LBP5050 which are perfect for home and small offices. They have better features and quicker printouts while assuring both quality and quantity. Furthermore, USB 2.0 Hi-Speed in them enables both printers to transfer data at high speeds without fear of data bottlenecks and never-ending print queues [Scenario].Canon always has a clear marketing strategy that each showroom will show and introduce one product line, primarily in order to increase concentration and profession into each product and consumers of it (Thế Giới Vi Tính, 2006). Moreover, it is Multinational Corporation, so its structure is by geography which has local decision making at the point of contact between the organization and its stakeholders (BPP Professional Education, 2004, p67). “The expectations Page 3CANON VIETNAM CO. LTD AND ITS MARKETINGtoward us identified through dialogue between our stakeholders and relevant company divisions” (Canon, 2008). Canon always listens and cares about stakeholders’ objectives.Figure1. Canon Governance Structure(Source: Canon Annual Report 2008)The first thing in marketing orientation is that know what customers want, how to be better than competitors. Therefore, Canon has to have research market. After that is strong research and development capabilities, which made its product line on a reliable basis, and provided it with a strong pipeline of new products and technologies. For example, new Canon product possessing amazingly intelligent functions and attractive looking figures, offer users not only convenience, quality and versatility but also a unique lifestyle (Scenario). All these features focus on users, it means Canon has customer oriented which base on customers demand. The Canon’s commitment is showed through its philosophy “kyosei” that is “All people, regardless of race, region or culture, harmoniously living and working together into the future” (Canon Vietnam, n.d) and this thing is implemented from top to employees. Therefore, there is coordination of company led activities which are 4Ps: product, price, place and promotion that around customers’ needs. Subsequently, Canon achieved success with the profitability. Canon Vietnam Co. Ltd. earns more than US$200 million. In Asia and Oceania, sales climbed 4.5% year on year to ¥729.9 billion, accounting for 17.8% of consolidated net sales [Scenario]. Page 4CANON VIETNAM CO. LTD AND ITS MARKETING3. The various elements of the marketing conceptsAccording to Philip Koler (1997):Concepts Profit Driver Western European TimeframeElementsProduction Production method Until the 1950s - Production and distribution- Reduce costs- Improve efficiency Product Quality of the productUntil the 1960s - Concerns quality of product-Focus on product, not care about customers’ needsSelling Selling methods 1950s and 1960s - Effectiveness and promotion-Focus on selling(sells existing products)- Using promotion techniques to attain the highest selling as possible.Marketing Needs and wants of customers1970s to present day- Satisfy- Marketing plan are based - Customers desiresSocietal marketingBenefit to society1990s to present dayElements of marketing concept and curtailment on any harmful activities to societyCanon is a company that has marketing orientation. The approach which Canon uses is societal marketing. It is proved by 5Cs analysis. It is an environmental scan on five key areas especially applicable to marketing decisions (NetMBA, n.d).  First C is company, here is Canon which is manufacturer of business and consumer imaging products. Canon’s vision is “All people, regardless of race, region or culture, harmoniously living and working together into the future” (Canon Vietnam, n.d). Hence, its purpose is to bring goods thing to all people in the world by its products that are ensured that protect environment and the future. Canon establishes system that manages rubbish and recycles 100% kinds of plastic, metal and paper (Canon Vietnam Co., Ltd, n.d). And “Canon Vietnam Page 5CANON VIETNAM CO. LTD AND ITS MARKETINGlaunched the Canon Friendship School Chain Project in July 2007 to support the construction of schools in Vietnam”(Canon, 2008).Figure2. Canon’s main social and cultural support activities(Source: Canon Sustainability Report 2008)The second is collaborators which are distributors, suppliers, etc. In Vietnam, Canon has five main distributors and more than 300 agencies, such as Lê Bảo Minh (VnEconomy, 2008). Moreover, Canon always has cooperative activities with its suppliers, promotes fair and transparent business transactions (Canon, 2008). The third is customer, Canon concentrates on customer orientation. Canon had diversified product lines that can satisfy market requirements with different quality levels, low, average and high and suitable price for customers (VnEconomy, 2007). Thus, target customer of Canon is business and consumers who have money. Besides, each product of Canon has different target customers, such as Laser Printer LBP3250 and LBP5050 focus on home and small offices [Scenario]. Next is competitor, main competitors of Canon are HP, Brother, Epson, Lexmark. They are big company in market, their brand name is affirmed by customers. In printer market, their position is not less than Canon, especially HP. In 2006, HP share of operating income is less Page 6CANON VIETNAM CO. LTD AND ITS MARKETINGthan Canon’s but its share of revenue is higher than Canon’s. Figure3. CY Q1 2006Financial performance(Source: http://static.seekingalpha.com/wp-content/seekingalpha/images/crowley2.gif)Context is last C that belongs to macro-environmental factors, Canon is great corporation, so influences of this factor to Canon is high. “In 2009, Canon's business performance is feeling the impact of the global economic crisis. But for Canon, these tough times present a golden opportunity to bolster our corporate structure” (Canon Global, n.d).4. The costs and benefits of using societal marketing to doing business in VietnamCosts Benefits Identifying customer- Canon must research needs and wants of customer that is customer focus. Through partners in Vietnam, information about demand and taste of customer are send to office of Canon in Japan (Tokyo) to have suitable product strategy (Thế Giới Vi Tính, n.d).-Customer delight is long-term - Canon can get customer loyalty. It means Canon can keep its current consumers and get new one because loyal customers will buy again and advise for their family, friends. Market share of Canon Bubble and Laser Page 7CANON VIETNAM CO. LTD AND ITS MARKETINGcompetitive advantage of a company, so Canon pays many costs to have satisfaction of customer, especially in Vietnam because technology in Vietnam is not good as others, like Singapore. -Canon try to get customer loyalty by reduce risk dissatisfaction when buying new product. It provides information of product to customers exactly, warranty card and preventing fake stamp (Xã Hội và Thông Tin, 2009). -In Vietnam, cost of acquiring new customers is expensive, Canon cannot be outside of it. The company must pay for advertising, salesman or sales promotion. In 2009, Canon Vietnam had sales promotion with total cost is 225,000,000 VND (Xã Hội và Thông Tin, 2009).Printer in Vietnam is 39% and 42% (Cơ quan của Đảng Bộ Đảng Cộng Sản Việt Nam Thành phố Hồ Chí Minh, 2007)Building a valuable relationship with customer- Now, Canon pay a lot of money to build two Customer Care Centrals in Ho Chi Minh and Hanoi to ensure customer satisfaction is focused and increase relationship marketing between Canon and customers.-Another cost that Canon has to pay is cost of lost customers. If all customers has product, they will not buy anymore. - Canon Vietnam can keep the care of customers, instead of its competitors. It is proved by market share of Canon printers.-Image of Canon in Vietnam is increased.Page 8CANON VIETNAM CO. LTD AND ITS MARKETINGVietnam is poor country, so Vietnamese people have not enough money to buy two or more same kind of product.Customer care and service- To be a big company, Canon must have customer care strategy that includes many stages, so it can pay many time and money for this strategy.- It is easy for Canon to research and satisfy customer demands.Quality issues and their implication for customer relationships- To achieve customer satisfaction, Canon always has quality control which ensure about quality of product. Canon factories in Vietnam have managing component quality and managing product quality departments to get target “No error product” (Canon Vietnam Co., Ltd, n.d).-Moreover, Canon Vietnam implements plan that produce product not harm to societal, “the environmental-friendly manufacturing facility utilizes traditional Vietnamese bamboo racks” [Scenario]- Canon Vietnam has been recognized by ISO 9001 about quality of product and 14001 about environmental management (Canon Vietnam Co., Ltd, n.d).In order to do societal marketing, Canon must pay many kinds of cost for marketing activities, such as researching market, advertising, and social welfare activities. Benefits and costs analysis show that all costs that Canon has to pay is to satisfy customer demands by its products and services. However, it gains many benefits, the company’s image will be raised and its income will increase. And the benefits that it gains come from customers, such as customer loyalty. Page 9CANON VIETNAM CO. LTD AND ITS MARKETINGFigure4. Flowchart of Countermeasure to Product Malfunctions or Quality Issues(Source: Canon Sustainability Report 2008)III. CANON LTD. IN VIETNAM AND ITS MARKETING1. The Macro and Micro environmental factors 1.1.Micro environmental factorMicro environmental factor has two parts which are market and internal (BPP Professional Education, 2004, p84).Stakeholders of Canon are key elements of its market which have three main types: internal (employees, managers), external (customers, suppliers), concerned stakeholders (local resident, the community, government and interest groups). Canon achieved the success because of understanding the interaction and behavior of these groups. Firstly, employees and managers are essential parts of the strategic planning process. Meanwhile, human resource in Vietnam is profuse, high quality and cheap. According to Mr. Kageyama, most of engineers in Canon can communicate by English and employees are very creative, skillful and self-educated (cpv.org, 2006). To compare with some countries in Asia, Page 10[...]... p67). “The expectations Page 3 CANON VIETNAM CO. LTD AND ITS MARKETINGFigure2. Canon s main social and cultural support activities(Source: Canon Sustainability Report 2008)Figure3. CY Q1 2006Financial performance(Source: http://static.seekingalpha.com/wp-content/seekingalpha/images/crowley2.gif)Page 23 CANON VIETNAM CO. LTD AND ITS MARKETINGfrom link:http:/ /canon- cvn.com.vn/vn/gd_message.html... SEPHY ES3, ES30. Since, this product line focuses on personal and psychological factors of customers. It has benefits that satisfy Page 19 CANON VIETNAM CO. LTD AND ITS MARKETINGFigure4. Flowchart of Countermeasure to Product Malfunctions or Quality Issues(Source: Canon Sustainability Report 2008) Page 24 CANON VIETNAM CO. LTD AND ITS MARKETINGTHƯƠNG HIỆU MẠNH, [Online], Sài Gịn Giải Phóng,... which are 4Ps: product, price, place and promotion that around customers’ needs. Subsequently, Canon achieved success with the profitability. Canon Vietnam Co. Ltd. earns more than US$200 million. In Asia and Oceania, sales climbed 4.5% year on year to ¥729.9 billion, accounting for 17.8% of consolidated net sales [Scenario]. Page 4 CANON VIETNAM CO. LTD AND ITS MARKETINGII. BASIC CONCEPT OF MARKETING1.... VnEconomy, (2007), Canon Việt Nam ngại hàng nhập lậu”, [Online], vneconomy, Available from link:Page 28 CANON VIETNAM CO. LTD AND ITS MARKETINGkinds: urban and rural areas. Canon focuses SELPHY ES3 and ES30 on big cities, such as Hanoi and Ho Chi Minh City because population in these cities is increasing significantly. In 2007 and 2008, the population of urban area hold 27,47% and 28,11% (Tổng... Canon Vietnam, (n.d), Canon tai Viet Nam, [Online], Canon, Available from link:http://www .canon. com.vn/section/VN/aboutus/index.jsp (Accessed 28th November 2009)7. Canon Vietnam, (n.d), Corporate Philosophy, [Online], Canon, Available from link:http://www .canon. com.vn/section/EN/aboutus/philosophy.jsp?lang=En (Accessed 28th November 2009)8. Canon Vietnam, (n.d), May in anh nho gon, [Online], canon, .. .CANON VIETNAM CO. LTD AND ITS MARKETINGa line chief tied its two employees (Lao Dong, 2007).1.2.Macro environmental factorMacro environment is shown by PEST factors that are political, economic, social and technological. Vietnam is potential market of Canon, so it contains opportunities and threats. Mr. Mikio Takeuchi assessed that one of three reasons that investors choose Vietnam is... BPP Professional Education, (2004), Organizations and Behavior, 1st ed., London: BPP Professional Education4. Canon Vietnam Co., Ltd. , (n.d), Qui trinh san xuat, [Online], canon- cnv, Available from link:http:/ /canon- cvn.com.vn/vn/production_stream.html (Accessed 2nd December 2009)5. Canon Vietnam Co., Ltd. , Thông điệp từ Tổng giám đốc, [online], canon- cvn, Available Page 25 ... products are not cared, such as beauty.Relying on these segmentations, Canon must choose one of market coverage strategies. The first is concentrated marketing, Canon can depend on special features of SELPHY ES3 & ES30 Page 15 CANON VIETNAM CO. LTD AND ITS MARKETINGthan Canon s but its share of revenue is higher than Canon s. Figure3. CY Q1 2006Financial performance(Source: http://static.seekingalpha.com/wp-content/seekingalpha/images/crowley2.gif)Context... choice of targeting strategy for Canon products. Now, Selphy and laser printers are new products in Vietnam that in introduction stage, so initially, it is practical to launch only one at a time. But, in the future, when they are in mature stage, Canon should focus these products in differentiated marketing.Page 17 CANON VIETNAM CO. LTD AND ITS MARKETINGlaunched the Canon Friendship School Chain... schools in Vietnam (Canon, 2008).Figure2. Canon s main social and cultural support activities(Source: Canon Sustainability Report 2008)The second is collaborators which are distributors, suppliers, etc. In Vietnam, Canon has five main distributors and more than 300 agencies, such as Lê Bảo Minh (VnEconomy, 2008). Moreover, Canon always has cooperative activities with its suppliers, promotes fair and . share of Canon Bubble and Laser Page 7 CANON VIETNAM CO. LTD AND ITS MARKETINGcompetitive advantage of a company, so Canon pays many costs . distribution channel, etc. Page 1 CANON VIETNAM CO. LTD AND ITS MARKETINGII. BASIC CONCEPT OF MARKETING1 . What is Marketing? Nowadays, marketing is an important
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