Canon to invest Rs 100 cr for marketing

New Delhi, Apr 13: In an attempt to capture a major market share Canon India Pvt, a 100 per cent subsidiary of Canon Singapore Pte Ltd, 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 Senior Vice president Alok Bharadwaj said. 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.

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