Leaders in the Market – Canon Digital SLR
Canon digital SLR has thrown a good competition to all its competitors. When a product shows good market reviews then you must realize that there are various aspects which come together and make the product the most happening among all its product line. The most effective thing that digital cameras applied is the right application of the marketing strategies.
Brand names like Canon digital SLR or EOS has followed all the marketing techniques during its product launch. Anybody can start a business but few are successful because they follow few mantras which are really necessary to make your product stand out from others.
What are the marketing mantras for successful brands?
Generally all marketers follow various marketing strategies but the few if followed religious can help your product to be a market leader. For this you need proper research and then product promotion etc in order to hit the right target audience. In this case you can take the marketing policy of canon that followed the following fundas to grab its existing position:
Product analysis: You should do your strategy keeping the total concept into mind. For example if it is cameras you need to understand it falls in niche marketing and the target audience varies. Moreover, it is not a grocery product which is valued by quantity. The main thing is to bring a product like camera into the lime light is to apply the right strategy model and promotion.
Target Audience: TA plays a very important role in marketing strategy. A true marketer will give due importance to this aspect as the whole game lies in the acceptance by the people. So, it is seen that even after having the best promotional campaign but they hit the wrong Target group.
Product Promotion: The third important plan is to have the right idea to promote your goods. People follow various promotional activities and do spend a lot of money for product promotion but many times it fails. So you should make a proper analysis of your product and then see which medium to advertise and make the best publicity.
The most important thing is that you should learn to differentiate your product from the other competitors. You need to have a proper analysis about your products positioning so that you can plan ahead with your plans and promotional activities. There are generally three market positioning given to the products like leader, challenger and follower. So, if you find your product to be the market leaders then you should think for unique and new strategy to be in the position. On the other hand if you in the other two categories then should work hard to be the leader.
Thus, Canon digital SLR has followed and applied all the marketing fundas in the right way and this is why it is reigning the market.