The Reasons on The Worse Situation of Canon Cameras

Abstract

Canon cameras have gained appeal as a result of the popularity of social media. However, the declining camera market during the epidemic has had an impact on Canon due to a decrease in non-essential purchases. The purpose of this study is to analyze why Canon's market performance has been less than stellar since the epidemic. Using Canon's global camera market as an example, market sales and segmentation data from 2020 will be analyzed. Existing academic research and papers will also be quoted to demonstrate Canon's market evaluation. Canon should incorporate more of its brand identity to address its innovation challenges. In order to address Canon's brand loyalty issue, it is proposed that Canon re-launch fresh marketing strategies and invite professionals to promote the products. To attract this customer segment, it is advised that Canon continue production of point-and-shoot cameras or expand the experience of unprofessional young people. This study's research value is to fill an academic void in the analysis of Canon's market performance, which is not as good as it once was, and to make recommendations for Canon's future development.