Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of Canon analyses the brand by its strengths, weaknesses, opportunities & threats. In Canon SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Canon to benchmark its business & performance as compared to the competitors. Canon is one of the leading brands in the IT & Technology sector.
The article below lists the Canon SWOT (Strengths, Weaknesses, Opportunities, Threats), top Canon competitors and includes its target market, segmentation, positioning & Unique Selling Proposition (USP).
Canon is one of the leading DSLR and camera manufacturer in the world
Electronics Semiconductors and Home appliances
Upper middle and upper class individuals
Canon is positioned as a leading electronics company which delights the customers with its innovative offerings
SWOT Analysis of Canon
For Canon, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position. Let us start the Canon SWOT Analysis:
The strengths of Canon looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Canon :
1. Canon is one of the leading electronics brand in the world
2. Canon’s wide portfolio includes digital cameras, DSLR’s, camcorders, photocopiers, printers
3. The company has over 180,000+ employees
4. The brand is present on the Tokyo Stock Exchange and also NYSE
5. Canon focuses on advertising through TVCs, print ads, online ads and billboards
6. Some of its leading digital camera brands are Canon PowerShot, Canon Digital IXUS, Canon EOS etc
7. It has been recognized as one of the leading environmental friendly companies in the world
8. Sponsorship has been done by Canon is football, motorsport etc
9. The company also indulges in CSR activities
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Canon SWOT Analysis:
1. Intense competition means limited market share growth for Canon
2. Fake replicas & imitation products causes loss and hurts the brand image
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Canon SWOT Analysis:
1. The brand can focus on growth of technology
2. High purchasing power of the people can boost the business for Canon
3. Tie-up with leading mobile companies with which their cameras can be integrated
4. Global expansion into emerging economies can boost Canon’s business
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Canon are as mentioned:
1. High competition can decline Canon’s market share
2. Being a global brand, economic crisis and currency fluctuations affect margins
3. Counterfeit goods - a major threat to manufacturers of branded electronics like Canon
4. Availability of cheaper technology in local markets
There are several brands in the market which are competing for the same set of customers. Below are the top 10 competitors of Canon:
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
Similar analysis has also been done for the competitors of the company belonging to the same category, sector or industry. Browse marketing analysis of more brands and companies similar to Canon. This section covers SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP of more than 2500 brands from over 20 industry sectors.
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