MUMBAI: As the crisis in Japan deepens, Canon India, a subsidiary of the Japanese imaging and optical products major, has pressed the panic button. In a major setback to its plans, Canon India is contemplating pulling out from advertising during the Indian Premier League (IPL) starting April 8.
The Japanese multinational which specializes in products like cameras and photocopiers plans to launch a new range of cameras next month and was going to put out a new campaign starring its brand ambassador Sachin Tendulkar. But with supplies being hit, the company is not sure of being able to fulfil the demand if it goes ahead with the media campaign.
Alok Bharadwaj, senior VP, Canon India, told TOI, "With the launch of a new campaign we expect demand to be created for the product but with issues on the supply side the decision on whether we will go ahead with the mass media campaign will be taken in a couple of days."
However, an official broadcaster of the IPL-SET Max said there is no clause which can allow for any advertiser to pull out from the tournament under any circumstances. "There is no question of any advertiser pulling out once the contract is signed. Such provisions are not part of the terms and conditions," said Rohit Gupta, president of Multi Screen Media (the parent company of SET Max).
Canon, along with other Japanese companies, has increased its advertising and marketing spends over the last one year to ramp up its presence in the country.
Sony, one of the biggest exporters of electronics out of Japan, has been on an overdrive and signed on the Indian cricket captain M S Dhoni before the start of the ICC World Cup to garner market share away from its Korean rivals LG and Samsung, but the Japanese electronics major said it cannot comment on any expected cuts in marketing and advertising budgets post what happened in Japan. But given the ongoing crisis, with the kind of destruction that has been brought about by the earthquake and the tsunami and now the threat of a nuclear meltdown, the Indian subsidiaries of Japanese multinationals may have to cut costs and resort to austerity measures. In fact, Canon has cancelled a foreign jaunt that it had organized for its trade partners as a mark of respect to the victims back in Japan and also to cut unwanted expenditure.
toi
The Japanese multinational which specializes in products like cameras and photocopiers plans to launch a new range of cameras next month and was going to put out a new campaign starring its brand ambassador Sachin Tendulkar. But with supplies being hit, the company is not sure of being able to fulfil the demand if it goes ahead with the media campaign.
Alok Bharadwaj, senior VP, Canon India, told TOI, "With the launch of a new campaign we expect demand to be created for the product but with issues on the supply side the decision on whether we will go ahead with the mass media campaign will be taken in a couple of days."
However, an official broadcaster of the IPL-SET Max said there is no clause which can allow for any advertiser to pull out from the tournament under any circumstances. "There is no question of any advertiser pulling out once the contract is signed. Such provisions are not part of the terms and conditions," said Rohit Gupta, president of Multi Screen Media (the parent company of SET Max).
Canon, along with other Japanese companies, has increased its advertising and marketing spends over the last one year to ramp up its presence in the country.
Sony, one of the biggest exporters of electronics out of Japan, has been on an overdrive and signed on the Indian cricket captain M S Dhoni before the start of the ICC World Cup to garner market share away from its Korean rivals LG and Samsung, but the Japanese electronics major said it cannot comment on any expected cuts in marketing and advertising budgets post what happened in Japan. But given the ongoing crisis, with the kind of destruction that has been brought about by the earthquake and the tsunami and now the threat of a nuclear meltdown, the Indian subsidiaries of Japanese multinationals may have to cut costs and resort to austerity measures. In fact, Canon has cancelled a foreign jaunt that it had organized for its trade partners as a mark of respect to the victims back in Japan and also to cut unwanted expenditure.
toi
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