This is the detailed brand equity analysis of Canon which is one of the established Company in the electronics industry.
Brand Awareness
Canon has established its position as one of a best brands of world. It is famous for innovation, quality and reliability, however, it required hard efforts, resources, money, and strategies for building this position. Its marketing strategies helps in creating awareness among people about the product. The advertising campaigns of Canon has spanned all channels of media which include newspaper, movie theaters, television, and social media. Canon has created a good communication channels with consumers through social media, and its continuous engagement has made the brand famous (Lee, 2016).
Brand Association
Canon is famous for fulfilling the made promises with consumers, and keeping employees satisfied. This helps in building the good position in the industry. Canon has endorsed many famous photographers and videographers, for its advertisements, to provide the perspective of the best camera and lenses. It uses endorsement approach, and monolithic approach. This approach helps in launching the every manufactured product under the same name, thus, helps in effective association with consumers and low cost in the marketing of the product, as customer base is already present. Canon worked hard in this category, and is successful in gaining the desired outcome (Canon global, 2018; Canon uk, 2018).
Brand Asset
Canon has a strong product portfolio. It manufacture cameras and camcorders, professional video solution, flashes, lenses and binoculars, solutions of offices, home and personal solutions, large and professional printers, production printing, networking video solution, reference and projector displays, healthcare technologies, industrial products, accessories and supplies. It helped in gaining the recognition in the global market. It also work with considering the Corporate Social Responsibility in the core of heart (Canon USA, 2018).
Brand Loyalty
Canon has a huge network of loyal customers, because of its positioning in their mind as the most reliable and quality product, which is economical and provide good result. This positioning was not developed at one go, but years of effort was put in this. Canon was successful in making this consumer base by prioritizing the quality and consumers ahead. They consider quality as the key, which fulfills every promise made by consumers. They also make sure that first impression is the last impression. If any new customer buy Canon’s product, he must be satisfied with it, and next time comes to the same brand (Canon sg, 2018).
Brand Element
Simple written Canon, in its logo with red font, is the simplest logo. This was made with the purpose of easily remember by people, and they do not need to think of the brand with the complex logo that which it is? The tagline of Canon, “delighting you always” shows the priority of the company is consumers, and they work hard to keep them satisfied. This gives a good message to consumers. It is easily accessible and available in the global markets. The products of Canon are easy to use, and a guide book is provided for the ease of customers (Canon global, 2018).
References
Canon global, 2018. Brand Management. [Online], Available at: http://global.canon/en/csr/management/brand.html, [Accessed on: 30th March, 2018].
Canon sg, 2018. Building Brand Loyalty: The One Thing You Need To Know. [Online], Available at: http://www.canon.com.sg/thinkbig/building-brand-loyalty-the-one-thing-you-need-to-know, [Accessed on: 30th March, 2018].
Canon UK, 2018. Be inspired by Canon. [Online], Available at: https://www.canon.co.uk/youconnect/inspiration/, [Accessed on: 30th March, 2018].
Canon, USA. 2018. Products of Canon. [Online], Available at: https://www.usa.canon.com/internet/portal/us/home/contactus/reachus/canon-logo-download, [Accessed on: 30th March, 2018].
Lee, A. 2016, How Canon Maintains its Global Position with Social Media Marketing. [Online], Available at: https://www.referralcandy.com/blog/canon-marketing-strategy/, [Accessed on: 30th March, 2018].