How would you design a marketing plan to specifically target one new consumer segment for one...

How would you design a marketing plan to specifically target one new consumer segment for one product offered by the company Canon Inc?

Expert Solution

Marketing is a business process to sale the products and services of company in the consumer market. The business success or failure of a company depends on design and scope of marketing plan. Canon Inc is a Japanese based MNC firm engaged in manufacturing of printing and imaging products such as digital camera, xerox and fax machines, printers and medical imaging equipment. The inkjet printers of Canon Inc is suitable for small traders and students.

Suppose Canon Inc intends to launch its new version of inkjet printers in India. Then first it has to assess various factors of market in India such as consumer's income, tastes, needs, preferences, substitutes in India. Based on the market survey, Canon can change the design and pricing of its latest inkjet printers so as to attract attentions of targeted customers i.e., small traders, students and working professionals. Next comes product advertising which is advertising the canon inkjet printers on social media platforms, public areas and print media. Product advertising is a part of marketing plan and it helps company to showcase its product segment in large consumer groups and maximize sale of targeted product segment in the competitive market. The last phase of a marketing plan is consumer feedback and it is very important for business marketers to receive consumer feedback. consumer feedbacks can be received either through offline or online medium but in the present days, online mode such as emails and web chat are efficient tools for companies to receive consumer feedback. Based on consumer feedback, Canon Inc can make specific changes in its inkjet printers and also increase or decrease prices of its new product.

Rahul Sunny answered 1 year ago

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