Though Canon possessed advanced technology, the company had a weak marketing section. Their success in engineering was countered by weak marketing strategies. This affected their products.
In 1972, Canon developed the “liquid dry” copying system, the first of its kind in the market. Instead of selling the new product on their own, Canon licensed the technology to other manufacturers because the company doubted its competence in the market. This wasted a huge opportunity for profit. Things changed when Ryuzaburo Kaku stepped in.
Kaku joined Canon as the managing director who changed the company’s management and marketing strategies, including TV commercials and faster development of newer technologies. By the 1970s and 1980s Canon launched a range of new products like EOS (electronic optical system) and autofocus SLR that brought them back into profitable business.
Picture Credit : Google