Canon to inject Rs 100 cr on marketing
New
Delhi,
Apr
9:
In
an
attempt
to
capture
maximum
market,
Canon
India
Pvt
Ltd,
a
100
per
cent
subsidiary
of
Canon
Singapore
Pte
Ltd,
today
said
it
will
invest
Rs
100
crore
on
its
marketing
and
advertising
initiative
this
year.
''We
will
invest
a
total
of
Rs
100
crore
this
year
with
Rs
10-15
crore
of
investment
in
this
quarter
alone
in
marketing
and
advertising,''
Canon
India
Sr
Vice
President
Alok
Bharadwaj
told
reporters
here.
The company aims to achieve 50 per cent growth in its camera division and has announced a number of initiatives for the same. It will hold more than 300 roadshows throughout the year and will introduce Summer Travel Bonanza offers in order to capture maximum market during the peak season. The company plans to have a strong footage in the Rs 1,500 crore digital photo industry by increasing its distributor reach and retail visibility.
''We will open six exclusive Canon showrooms this year with the first one being opened in Gurgaon on April 25,'' Mr Bharadwaj said.
When asked about its competition with Sony, Mr Bharadwaj said, ''It will be a very strong competition with Sony but we are offering cutting-edge technology to our customers and hence aim to maintain our market leadership with 25 per cent market share.'' The retail segment of Canon contributes almost 15 per cent of the revenue of the camera division and the company plans to increase this share by providing 200 additional promoters across 200 NRC stores across the country.
UNI