Brand Becoming Dominant Factor In Office Equipment Industry: HP Is the Most Powerful Brand in the Market
Press release from the issuing company
(Norwell, MA) April 4 , 2001 - With the office printer, copier and fax markets not growing as fast as they were several years ago, brand is becoming increasingly important for vendors to gain and retain market share. Most products have very similar feature sets and price points and are being sold through the same channels. If a vendor is not closely managing critical aspects of its brand such as awareness, consideration and customer satisfaction they are in jeopardy of losing valuable market share.
CAP Ventures Office Equipment Tracking Program tracks a variety of critical metrics to help vendors better allocate their scarce marketing resources on those segments that will yield the most potential. Jeff Hayes, Research Director at CAP Ventures noted, "we see strong evidence of a number of brands in danger of falling off the radar screen with low awareness levels and the vast majority of customers not even considering them for their next equipment purchase."
The research provides important insights on brand performance and customer behavior metrics for office copiers, fax machines, laser printers and inkjet printers including:
*Brand consideration and preference
*Use of Internet in purchase process
*Average monthly print volume
Twice per year CAP Ventures interviews over 1,500 decision makers at small, medium and large businesses throughout the United States. The research results can be segmented by a variety of factors including company size, geography, vertical industry, brand of equipment and other customer attributes. Clients can participate by purchasing results from one or more product areas.
Several brands such as HP, Canon and Xerox have a solid footing in multiple product categories and market segments, while many other brands have pockets of strength and weakness. "HP is the most powerful brand in the office equipment industry today", commented Hayes. "They consistently have among the highest scores on critical metrics such as brand awareness, share, preference and satisfaction."
HP Brand Performance in Office Equipment Market
The research also shows that many vendors have significantly varying results by product and market segment. "Some brands have good awareness and consideration levels for copiers, but are under performing in fax or printers", observed Hayes. "Other brands are strong with small companies but are no where on the map with the medium and large customers."
The program also tracks the use of the Internet in the purchase process as well as branding issues associated with major distributors including Office Depot, Staples, IKON, Danka and independent office equipment dealers. "Vendors need to be at the right place at the right time to maximize their market potential", noted Hayes.
To find out more about CAP Ventures Office Equipment Tracking Program contact Stewart MacDonald at 781-871-9000 ext. 175 or visit our web site at www.capv.com.
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