Factors influencing the choice of the targeting strategies for Canon's products
There are three types of market coverage strategies including niche, differentiated, and undifferentiated marketing (Learn Marketing, accessed 2010). Undifferentiated marketing is market coverage strategy whereby a company ignores differences within a market and attempts to appeal to the whole market with a single basic product line and marketing strategy. Differentiated marketing is also called multi segment marketing whereby a company attempts to appeal to two or more clearly defined market segments with a specific product and unique marketing strategy tailored to each separate segment. Lastly, concentrated marketing is market coverage strategy whereby a product is developed and marketed for a very well-defined, specific segment of the consumer population. (Answer, accessed 2010).
Canon should use differentiated marketing strategy for the company's operations on two product lines SELPHY and Laser printer. Canon attempts to appeal to defined market segments. For detail, SELPHY ES3 & ES30 are best fit in home interior, while Laser printer LBP5050 is for small offices, and LBP3250 are useful for both home and small offices (Scenario).
English: An HP LaserJet 4100TN / 4100-TN laser pri...
Hewlett-Packard laser printer HP Color LaserJet 55...
Laser head from HP LaserJet 5L printerBefore applying differentiated marketing strategies, Canon has to assess the attractiveness of a market segment, which includes the size, growth rate, level of competition and scale of customer in the market segment, the suitability of market segments, and other factors influencing to Canon's targeting strategy.
As suggested in previous part, Canon should use geographic, behavioral and psychographic segmentation for SELPHY and Laser Printer. These segmentations offer large number of customers. For particular, using geographic segmentation means Canon focuses on modern areas where people have more opportunities to approach hi-tech applications. These areas are also places that people mostly concentrate. Moreover, the trend that people from countryside and rural areas moving to big cities for more chances seeking jobs becomes...