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Website: http://www.docs.vn Email : lienhe@docs.vn Tel : 0918.775.368 CANON VIETNAM CO. LTD AND ITS MARKETING I. INTRODUCTION Nowadays, 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 1 Website: http://www.docs.vn Email : lienhe@docs.vn Tel : 0918.775.368 CANON VIETNAM CO. LTD AND ITS MARKETING II. BASIC CONCEPT OF MARKETING 1. 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 Philip Kotler Marketing Definitions American Marketing Association Marketing is the Marketing is the social Marketing is the process of management process process by which which identifies, individuals and groups conception, pricing, anticipates and supplies obtain what they need promotion and distribution customer requirements and want through of ideas, goods, and services efficiently and creating and to create exchanges that profitably. exchanging products satisfy individual and (BPP Professional and value with others organizational goals. Education, 2004, p8) (Philip Kotler, 2000, (BPP Professional p4) Education, 2004, p8) Similarity To concentrate on customer. Differences - Management process. - Social process. planning and executing the - Process of planning and executing. - To focus on customer - Creating and - Completing previous requirements exchanging products definitions, satisfying both efficiently and and value with organization and customer profitably. others 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 Page 2 Website: http://www.docs.vn Email : lienhe@docs.vn Tel : 0918.775.368 CANON VIETNAM CO. LTD AND ITS MARKETING 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. But 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 Canon Marketing 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 Page 3 Website: http://www.docs.vn Email : lienhe@docs.vn Tel : 0918.775.368 CANON VIETNAM CO. LTD AND ITS MARKETING 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 toward 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, Page 4 Website: http://www.docs.vn Email : lienhe@docs.vn Tel : 0918.775.368 CANON VIETNAM CO. LTD AND ITS MARKETING 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]. 3. The various elements of the marketing concepts According to Philip Koler (1997): Concepts Profit Driver Western European Elements Timeframe Production Production Until the 1950s method - Production and distribution - Reduce costs - Improve efficiency Product Quality of the Until the 1960s - Concerns quality of product product - Focus on product, not care about customers‟ needs Selling 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 wants and 1970s to present - Satisfy of day customers Societal Benefit marketing society - Marketing plan are based - Customers desires to 1990s to present Elements of marketing concept and day curtailment on any harmful activities to society Page 5 Website: http://www.docs.vn Email : lienhe@docs.vn Tel : 0918.775.368 CANON VIETNAM CO. LTD AND ITS MARKETING Canon 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 launched 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). Page 6 Website: http://www.docs.vn Email : lienhe@docs.vn Tel : 0918.775.368 CANON VIETNAM CO. LTD AND ITS MARKETING 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 than 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 Page 7 Website: http://www.docs.vn Email : lienhe@docs.vn Tel : 0918.775.368 CANON VIETNAM CO. LTD AND ITS MARKETING 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 Vietnam Identifying customer Costs Benefits - Canon must research needs and wants of - Canon can get customer customer that focus. loyalty. It means Canon can Vietnam, keep its current consumers information about demand and taste of and get new one because customer are send to office of Canon in loyal customers will buy Japan (Tokyo) to have suitable product again and advise for their strategy (Thế Giới Vi Tính, n.d). family, friends. Market share Through is partners customer in long-term of Canon Bubble and Laser competitive advantage of a company, so Printer in Vietnam is 39% Canon have and 42% (Cơ quan của Đảng satisfaction of customer, especially in Bộ Đảng Cộng Sản Việt Nam Vietnam because technology in Vietnam Thành phố Hồ Chí Minh, is not good as others, like Singapore. 2007) - Customer pays delight many is costs to - 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 Page 8 Website: http://www.docs.vn Email : lienhe@docs.vn Tel : 0918.775.368 CANON VIETNAM CO. LTD AND ITS MARKETING 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). Building a - Now, Canon pay a lot of money to build - Canon Vietnam can keep the valuable two Customer Care Centrals in Ho Chi care of customers, instead of relationship Minh and Hanoi to ensure customer its competitors. It is proved with satisfaction is focused and increase by market share of Canon customer relationship marketing between Canon printers. and customers. - Another cost that Canon has to pay is - Image of Canon in Vietnam is increased. cost of lost customers. If all customers has product, they will not buy anymore. Vietnam 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 - It is easy for Canon to customer care strategy that includes research and satisfy customer many stages, so it can pay many time and demands. money for this strategy. Quality issues - To achieve customer satisfaction, Canon - Canon Vietnam has been and always has quality control which ensure recognized by ISO 9001 their about quality of product. Canon factories about quality of product and implication in Vietnam have managing component 14001 about environmental Page 9 Website: http://www.docs.vn Email : lienhe@docs.vn Tel : 0918.775.368 CANON VIETNAM CO. LTD AND ITS MARKETING for customer quality and managing product quality management (Canon relationships departments to get target “No error Vietnam Co., Ltd, n.d). 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] 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. Figure4. Flowchart of Countermeasure to Product Malfunctions or Quality Issues (Source: Canon Sustainability Report 2008) Page 10 Website: http://www.docs.vn Email : lienhe@docs.vn Tel : 0918.775.368 CANON VIETNAM CO. LTD AND ITS MARKETING III. CANON LTD. IN VIETNAM AND ITS MARKETING 1. The Macro and Micro environmental factors 1.1. Micro environmental factor Micro 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, price of labour in Vietnam is about 50% to 70% (Cơ Quan Trung Ương Đảng Cộng Sản Việt Nam, 2006). This thing affects relationship of Canon with customers which reduce production cost and price of products. Secondly, meeting the needs and providing benefits for customers are the way that Canon exists. Vietnam is potential market of Canon, thus it brings out high quality products to satisfy various requirements of consumers and increases quality of services (VnEconomy, 2008). Thus, Canon can have customer loyalty. Besides, Canon cannot lack suppliers, close supplier relationships ensure competitive and quality products which make difference to its competitors. Canon mentions “green regulation” program with suppliers which obey environmental standard of Canon and Vietnamese law (Canon Vietnam Co., Ltd., n.d). Annually, Canon invests a lot of money into Vietnam. It helps Vietnam economy develop Page 11 Website: http://www.docs.vn Email : lienhe@docs.vn Tel : 0918.775.368 CANON VIETNAM CO. LTD AND ITS MARKETING from local to government. So Canon has treatments from them. It is exempted 10% corporation tax in 8 years and VAT, customs duty (Cơ Quan Trung Ương Đảng Cộng Sản Việt Nam, 2006). Furthermore, Canon Vietnam has contributed to Vietnamese people by implementing “Friendship School Chain Project” and protecting environment (Canon, 2008). Therefore, it develops Canon image by the way the company is perceived by various interest groups. Internal shows strengths and weaknesses of Canon. First strength is internal capability. Canon is big famous company, so financial resource is advantage, its employees has high quality. Besides, technology and innovation are strength of Canon that makes its competitive effect. Canon created products with amazing features, such as “Both SELPHY ES3 & ES30 come with over 10 image effects” [Scenario]. Furthermore, “kyosei” is culture of Canon which impacts its marketing decisions. Canon is rare company that always ensures to protect environment in production process. Finally, Canon uses “by geography” structure, so it can understand customers‟ objectives of each area to satisfy them. However, there are some particular cases about personnel that have bad influences to Canon‟s image. In 2007, there was a line chief tied its two employees (Lao Dong, 2007). 1.2. Macro environmental factor Macro 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 stableness of political and social situations and good national security (Cơ Quan Trung Ương Đảng Cộng Sản Việt Nam, 2006). Thus, Canon can feel safe when it sells new products and develop the business in Vietnam. Moreover, to attract FDI from Japan, Vietnam has special policies that innovates investment environment, especially administrative innovation (Cơ Quan Trung Ương Đảng Cộng Sản Việt Nam, 2008). This thing opens development Page 12 Website: http://www.docs.vn Email : lienhe@docs.vn Tel : 0918.775.368 CANON VIETNAM CO. LTD AND ITS MARKETING opportunity to Canon. Besides, Vietnam economy is integrating into WTO and economy of the world, the GDP growth rate in 2008 was 6.18% (LookatVietnam, n.d). Vietnam government reduces import tax, so Canon can decrease cost of products because it still imports many things from other countries. However, Vietnam economy is developing, so there is one threat that market appears more competitors. It has high influence to marketing decisions of Canon. On the other hands, the culture of Vietnam is falling in line with the World, income of Vietnamese people is higher, so consumer buying power is increasing that create opportunity to Canon deploy its marketing strategy and achieve big income. One thing has bad influence to Canon is that technology in Vietnam is weak, especially supporting industry of Vietnam (Đời Sống Pháp Luật, 2009). Canon gets many difficulties because Canon always tries to use technology inside Vietnam to reduce cost. To high price, products of Canon meets disadvantage with its competitors, such as HP, Brother, Epson. Furthermore, each company has separate competitive strategy base on Porter‟s generic competitive strategies which include cost, differentiation and focus (BPP Professional Education, 2004, p50). Although price of Canon products have competition, the products are made from the best materials, and its product lines are variety, have different levels. So neither cost nor focus is Canon competitive strategy. To compete with main competitors which are HP, Brother, Epson, Lexmark, Canon uses differentiation. It is easy to understand because strengths of Canon are internal capability, and technology and innovation. Thus, it has enough finance and technology to concentrate on developing special features of high quality products and the best services. Page 13 Website: http://www.docs.vn Email : lienhe@docs.vn Tel : 0918.775.368 CANON VIETNAM CO. LTD AND ITS MARKETING 2. The segmentation of Canon products in Vietnam In 1994, Philip Kotler defined “Market segmentation is the subdividing of a market into distinct subsets of customers, where any subset may conceivably be selected as a target market to be reached with a distinct marketing mix” (BPP Professional Education, 2004, p157). Market segmentation has four main bases: geographic (religion, culture, geography), demographic (occupation, age, income), psychographic (social class, lifestyle, personality traits), behavioral segmentation (benefit, users status, etc.). 2.1. SELPHY ES3 and ES30 2.1.1. Segmentation Geographic By density - Urban and rural areas. - Big cities: Hanoi, Ho Chi Minh City, etc. Demographic By income - Products of Canon focus on customers which have average and high income. Depending on features of SELPHY ES3 and ES30, they are suitable with geographic and demographic ways to segment Vietnam market. Firstly, Vietnam density is separated into two kinds: 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 Cục Thống Kê, n.d). Moreover, income of citizen is higher than people live in rural areas. In 2006, average income of rural and urban people in Vietnam is 506,000 VND and 1,058,000 VND per month (Tổng Cục Thống Kê, n.d). SELPHY ES3 and ES30 are not cheap, SELPHY ES3: VND 4,500,000 (Canon Vietnam, n.d). Therefore, these products are directed toward customers who have average and high income. Page 14 Website: http://www.docs.vn Email : lienhe@docs.vn Tel : 0918.775.368 CANON VIETNAM CO. LTD AND ITS MARKETING 2.1.2. Benefits and Limitations Benefits Geographic - Customers are divided into regions Limitations - The demands of customers are - Canon resources will not be wasted Demographic - The needs of customers are focused. not identified clearly. - Canon loses other segments. - Canon resources will not be wasted. Geographic helps Canon divide customers into regions, so it can narrow scale of demands. But the demands of customer are not identified clearly because people live in the same areas which not mean they have the same demands. Meanwhile, with demographic, customer requirements of Canon are focused on. There is one benefit that appears in both two bases that Canon will not waste money or technology for irrelevant parts. However, Canon forgets and loses others which are niche market. 2.2. Laser printers 2.2.1. Segmentation Demographic By occupation Behavioral By benefit - Small offices and Home offices (SOHO) - Executive and clerical officers. - Economical. - Working productivity. In Vietnam, demographic and behavioral are two appropriate ways to segment LBP3250 and LBP5050. They have better features and quicker printouts while assuring both quality and quantity [Scenario], they are used for people work in SOHO, such as executive and clerical officers who use printer many times with big volume daily. Besides, Laser printers transfer data at high speeds without fear of data bottlenecks and never-ending print queues [Scenario], Page 15 Website: http://www.docs.vn Email : lienhe@docs.vn Tel : 0918.775.368 CANON VIETNAM CO. LTD AND ITS MARKETING it shows these printers have high working productivity. Furthermore, they are economical printers. Thus, they bring business benefits for users. 2.2.2. Benefits and limitations Benefits Demographic - Expanding profit for Canon. Limitations - Skipping other segments. - Focusing on characteristics of - Be difficult for Canon when particular class. Behavioural changing. - Canon concentrates on benefits of - Skipping problems about beauty, users. or easy to transport, etc. With demographic, Canon can focus laser printers on characteristic of particular class like offices that use printers every day. Offices are big market which uses printers with large quantity, so Canon can get more profit than SELPHY. However, like other segmentation, Canon loses other segments that may be potential market. And when the products are used every office, it is difficult for Canon to put them in other market. The target customers of Laser printers are home and small offices. They are businesses which use printers with high productivity. Therefore, laser printers focus on benefits of them. Nevertheless, this method still has limitation which other characteristics of 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 to penetrate into niche market. The second is differentiated marketing. With features of Canon products, they can be offered to different kinds of customers. The third is undifferentiated marketing. Canon produces products with features that can satisfy demands of all kinds of customers (old, young, teenager, etc.) After choosing the segment, Canon must know its product position in marketplace. There Page 16 Website: http://www.docs.vn Email : lienhe@docs.vn Tel : 0918.775.368 CANON VIETNAM CO. LTD AND ITS MARKETING are two things that are quality and price. To compete with competitors, Canon can produce products have high quality but high price or low price but low quality or low price and high quality. The right competitive advantage for Canon is high quality products and not low price but competitive price because Canon has advantages about technology and finance. 3. The factors influence the choice of the targeting strategies Targeting strategies are very important to achieve success of new Canon products. Canon has to have right decision to choosing targeting strategy. The choice of Canon is one of three kinds of strategy that is called market coverage strategies. First strategy is concentrated marketing, Canon will not face with competitors when select this strategy because it apply for niche market. However, it is difficult to do that because features of SELPHY ES3 & ES30 and Laser Printer are not too different from same kind printers of other firms. Moreover, profit of this strategy is low. The second is differentiated marketing strategy. With features of these products, they can be offered to different kinds of customers, SELPHY can satisfy people who want show their level and lifestyle, Laser printers focus on home and small office. Thus, Canon will earn high profit, but the disadvantage is addition costs of marketing and production. However, Canon has strength of resources, so it is not bad problem. Differentiated marketing strategy is the most suitable strategy for SELPHY and Laser printers of Canon. The third is undifferentiated marketing strategy. Canon will not lose too much money for marketing and product price and design suit with all customers. However, it is hard to happen because SELPHY ES3 & ES30 and Laser Printer have not enough capability to demand of customers nowadays that are not homogenous. The following are main factors that have influence the choice of targeting strategies: Firstly, Canon has to calculate the attractiveness of market segment. The target customers of SELPHY printers are people live in urban areas where the population increases annually Page 17 Website: http://www.docs.vn Email : lienhe@docs.vn Tel : 0918.775.368 CANON VIETNAM CO. LTD AND ITS MARKETING and Laser printers are small and home offices. Most of these people have average to high income. Therefore, the growth rate in this segment is high, Canon can achieve expected profit. Company resources include human, finance, technology, etc. Canon must depend on these resources to decide its target marketing. Product variability is uneven quality of a product made by the same manufacturer (Answers, n.d). The degree of product variability connects closely to customer demands. Canon printers in Vietnam are multiform with two main lines: SELPHY ES3 and ES30 and Laser Printers include LBP3250 and colour laser printer LBP5050. Each product has different features, so it is useful for Canon to launch differentiated marketing, thus earn lots of profit. Another factor is product‟s life-cycle stages which include introduction, growth, maturity and decline (Quick MBA, n.d). These stages connect with changes of marketing decisions. Hence they have big influence with the 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. Figure5. Product Life Cycle Diagram (Source: http://www.quickmba.com/marketing/product/lifecycle/) Besides, market variability is an important factor. As analysis above, there are many Page 18 Website: http://www.docs.vn Email : lienhe@docs.vn Tel : 0918.775.368 CANON VIETNAM CO. LTD AND ITS MARKETING segments in market, so having more opportunity for company to choose. They can be advantage or disadvantage of company depend on company capability. If Canon can choose suitable markets with its product, it is advantage and inverse. Selphy and Laser printer are products have differences, they concentrate on particular customers, so differentiated marketing makes more sense. Finally, competitor‟s strategy is a factor that influence indirectly to Canon. Depending on competitors‟ strategy, Canon has to choose to become better than competitors or unique. Thus, it has direct influence to target strategy of Canon which put product into differentiated marketing or concentrated marketing. 4. Buyer behavior for the products affect the Canon’s marketing activities in the two different markets 4.1. Definitions Consumer buying behaviour can be defined as, „the decision processes and acts of individuals involved in buying and using products or services‟ (BPP Professional Education, 2004, p125). Organizational (or industrial) buying may be defined as, „the decision-making process by which formal organizations establish the need for purchased products and services and identify, evaluate and choose among alternative brands and suppliers‟ (BPP Professional Education, 2004, p149). 4.2. The differences between customers and organizational buying behaviour Customer buying behaviour Organizational buying behaviour - Less time spent on purchasing process. - More time spent on purchasing process. - Large number of consumer buyers - Organizational buyers are few in number. - Quantity of purchase is comparatively low. - Quantity of purchase is more. Page 19 Website: http://www.docs.vn Email : lienhe@docs.vn Tel : 0918.775.368 CANON VIETNAM CO. LTD AND ITS MARKETING - Segmentation on geographic, - Segmentation on purchasing approach, demographic, psychographic factors. situational factors, personal characteristics. (Source: http://www.scribd.com/doc/6757515/Organizational-Buying-Behavior) Canon has two main printer lines in Vietnam that are premium compact photo and Laser. Buyer behaviour which has consumers and organizational buying behavior has difference that is based on needs and decision-making units. For consumers, the purchasing decisions are based on the informal and motivated by personal interests and lifestyles. Organizations have to go through a decision making process and they are really complex and formal. 4.3. Consumer Buying Behaviour Before consumers buy a product, they have a process to have decisions. The first is need recognition. When customers want buy a printer, it originates from their using requirement, such as printing pictures or document, or they just watch advertising or hear from their friends and like it. After that, consumers search information about product. It can come from internet, experiential or other people. For example, SEPHY ES3 and ES30 are premium compact photo printers, LBP3250 is laser printer and LBP 5050 is colour laser printer [scenario]. Consumers have to evaluate them that which is suitable with their demand, SELPHY suit with printing photo, Laser printer suit with printing document. The next is purchase decision, consumers will choose the printer that they want. Finally, they will tell their feeling to others, such as family, friends, etc that they are satisfied or not. Besides, the purchase action of customers depends on many things. Basically, they will take care about premium compact photo printers: SEPHY ES3, ES30. Since, this product line focuses on personal and psychological factors of customers. It has benefits that satisfy requirements of lifestyles, for example convenience, quality, versatility, portability and a unique lifestyle [Scenario]. This thing will bring pride to its owners, make them delight. So, this market attracted consumers. There is one more thing that strikes on customers‟ mentality, Page 20
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