Canon to inject Rs 100 cr on marketing

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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

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