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Category: Business and Industry
Date Submitted: 03/22/2015 11:41 AM
Canon; In the News
Cong T. Nguyen
DeVry University
Canon; In the News
Canon is a world manufacturing leader in camcorders, cameras, photocopiers, printing and digital imaging devices. It is also the most active corporation in owning intellectual properties through application patent. As recent as 2014, Canon owns the third most patent in the world behind IBM and Samsung Electronics. Currently, Canon’s most important innovation is expansion through research and development of medical imaging devices. It is this innovation that we can use to analyze Canon’s business strategy.
* 1. Competitive Intelligence: As of February, 2015, Canon announced that they have resolved an infringement lawsuit with Xcom. A simple search of Canon’s job posting for competitive intelligence analyst resulted in quite a few job posting in many different location shows that Canon, while active in obtaining new patents, it is very rigorous when it comes to defending those intellectual properties.
* 2. Demographics: Every companies have certain set of demographic it targets. Some might target the majority while others target niche groups. Canon is known worldwide as one of the leading company in cameras that are simple to use to complex and high resolution DSLR (digital single-lens reflex) not to mention more complex printing technology and digital imaging medical devices in development. The United States of America is the most developed country as far technology goes so it should not come as a surprise that Canon is targeting the aging baby boomer generation who require a lot of medical care. In developing medical imaging technology, Canon is in fact targeting this baby boomer demographic as well as expanding its footprint as a company. Business wise, this ensure Canon’s portfolio to grow and sustain the company’s growth and its future.
* 3. Porter’s 5 Forces: For Canon, it has been one of the biggest corporations since the year 1960; its brand reputation is...