Yamaha Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of Yamaha analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Yamaha marketing mix, help the brand succeed in the market. Let us start the Yamaha Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
Yamaha Product Strategy:
The product strategy and mix in Yamaha marketing strategy can be explained as follows:
Yamaha is a leading global brand which has products in motorcycles, consumer electronics etc. Yamaha has a varied range of products in its marketing mix in music, electronics, power sports and motor vehicles. Yamaha products and services offered in musical instruments category are pianos, keyboards, strings, guitars & basses, brass & woodwinds, marching instruments, drums, percussion, music production, audio & visual and soundproofing. Electronics products and services include professional audio, network devices, unified communications systems and other electronic devices like AudioEngine and LSI. In the mobile category, it has eCompass, Sound Generator, CODEC and Amplifier. For TV & Audio it manufactures Amplifiers and AUDIO DSP / Karaoke. It also produces Graphic Controller and Sound Generator for automotive and other products like LED Driver.
Yamaha Motors Co Ltd produces scooters and a range of motorcycles which contribute 62% to the company revenues. Racing carts, electric hybrid bicycles, all-terrain vehicles and helicopter drones are some other products of Yamaha. The company launched 80 new models in 2016. Yamaha is the market leader in marine products like fishing boats, outboard motors, personal watercraft boats and utility boats which form 20% of its revenue share. Power products like recreational off-highway vehicles, snowmobiles, golf cars, golf clubs and generators contribute 10% to the revenue, while other products like industrial robots and drone helicopters make up 8% of the revenue.
Image: pixabay
Yamaha Price/Pricing Strategy:
Below is the pricing strategy in Yamaha marketing strategy:
Although Yamaha has a huge range of product lines, still it follows a competitive pricing strategy in its marketing mix across all segments. Even though comparably priced, Yamaha never compromises on quality.
Its pricing strategy is especially competitive in India where it is trying to gain as much two-wheeler market share as possible by manufacturing lowest cost products which deliver quality. India is a very big market for Yamaha Motors Co Ltd and has highly price sensitive buyers. Moreover, competitors like Hero, Honda, Bajaj have two-wheelers in economy segment which is the major chunk of market size. Yamaha also has two wheelers in premium segment which is priced at a high range and caters to upper to upper middle-income segment, especially youth. The major product category of musical instrument is also very reasonably priced and is considered affordable by most of the consumers. The varying degrees of price segments depends on the quality of products and is fully justified.
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Yamaha Place & Distribution Strategy:
Following is the distribution strategy in the Yamaha marketing mix:
Yamaha Corporation is spread across worldwide with its headquarters located in Hamamatsu, Japan. It is a truly multinational company with presence across all continents. In North America, Yamaha is present in all major states of U.S.A. and Canada. In South America, it is present in Mexico, Panama, Argentina and Brazil. The company also has a very strong presence in Europe with all major countries like Germany, France, U.K., Sweden, Denmark, Italy, Spain, Norway, Switzerland, Austria, Netherlands, Poland and Turkey on its map. Yamaha has a major market in Asia with India, Singapore, Taiwan, China, Malaysia, Indonesia, Thailand, South Korea and Vietnam. It is also present in Dubai, Russia and Australia while in Africa, it has a presence in 52 countries across the continent. Yamaha Motors is also spread globally and has production plants across the world. It tries to source materials locally to achieve cost reduction which can be transferred to the customers in the form of low prices.
For example, in India, Yamaha has 3 state of the art manufacturing facilities at Faridabad in Haryana, Surajpur in Uttar Pradesh and Kanchipuram in Tamil Nadu.
Yamaha Promotion & Advertising Strategy:
The promotional and advertising strategy in the Yamaha marketing strategy is as follows:
Since Yamaha’s products are widely appreciated for quality and affordable price, they practically sell themselves, especially in the musical instruments segment, where it sells majority of world’s pianos. It is the world leader in Guitars and percussion instruments market and the products are in huge demand owing to quality at affordable price. Despite this, Yamaha offers huge number of sales promotion offers and discounts for its musical products. In the Yamaha Motors division, the current promotional campaign is “Revs Your Heart” to focus on its extreme sport power equipment and vehicles. The campaign is aimed at the adventure seeker youth who gets thrill from adventure sports. Its earlier campaign “Yes! Yamaha” was a huge success with the tagline becoming synonymous with the company itself. It was aimed at associating positivity with the brand by using conditioning. Hence, this concludes the Yamaha marketing mix.
About Yamaha:
Yamaha Corporation is a highly diversified company with its headquarters located in Japan. It is the largest maker of motorbikes as well as musical instruments in the world. Yamaha is also a major producer of audio products, sporting goods, semiconductors and other electronics products. The company is highly invested in music industry with music schools in Japan and 40 other countries all over the world. It also has chain of resorts in Japan. It used to have a Yamaha Motors division which became an independent company later, but Yamaha Corporation still holds a majority stake of 33 percent in the company. Yamaha Motors Co Ltd is the second largest producer of motorcycles.
It also manufactures snowmobiles, power sports vehicles, engines, and industrial robots. The musical instruments and audio products operations contribute to around 75% of Yamaha Corporation’s net sales.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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