Sharp Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of Sharp analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Sharp marketing mix, help the brand succeed in the market. Let us start the Sharp Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
Sharp Product Strategy:
The product strategy and mix in Sharp marketing strategy can be explained as follows:
Sharp Corporation has ruled the world market for a longer period of time. Even, today most of the customers show brand loyalty towards the company. Sharp have ventured into many electronic products as part of their marketing mix strategy. Sharp came up with camera phone in 2000 for Japanese market. They were the first to introduced commercial camera phones. They have also come with Ultra-lite notebook PC, sidekick 3 and flat screen television.
They also manufacture consumer electronic products such as LCD television, fax machines, calculators and home appliances. Now, for business point of view purpose, they have introduced printers, projectors and monitors. Sharp are also the supplier of solar cells. They have deeply ventured into the electronic products and target to increase customer base through introducing new product lines.
Image: Wikimedia
Sharp Price/Pricing Strategy:
Below is the pricing strategy in Sharp marketing strategy:
Sharp have always tried to target each and every segment of customer base. They have diversified their product line to introduce new products.
They have used down market stretch to cater to people belonging to low segment. Now, they have used pricing strategy in an intelligent manner. Sharp have used competitive based pricing as part of their marketing mix strategy. They have priced the products at a similar cost to the competitors. Since, it has built a good brand value in the market; people are switching to Sharp products as they can get good quality products at a rate similar to competitors prices. But, still it is facing a major challenge from big names such as Samsung electronics, Sony electronics. It will be a good thing to see how sharp will react to price cut of big names products.
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Sharp Place & Distribution Strategy:
Following is the distribution strategy in the Sharp marketing mix:
Sharp Corporation has a very wide range of networks. It operates in around 30 countries and the products are distributed worldwide covering 160 countries. They follow extensive distribution channel. They have extensive network of dealers and distributors. It is beneficial to buy products from authorised dealers as you will get to have all knowledge from the sales personnel. You will get the benefits of warranty. They have many retail stores where customers can come and see & touch Sharp products.
These retail shops are strategically placed so that it easy accessible to customers.
Sharp Promotion & Advertising Strategy:
The promotional and advertising strategy in the Sharp marketing strategy is as follows:
Sharp Corporation heavily depends upon promotions and advertisements. They have sponsored big names in the field of football such as Manchester United Football club from 1983 to 2000. They also sponsored UCI World Tour cycling team in 2012. They have come up with unique marketing strategies named Masturi. It is a Japanese festival where people dress up beautifully and dance with the beats. During the festival, all the electronic equipments used are from Sharp corporations. Another campaign that was launched was LOVELIFE campaign. They introduced value added products in the market through this campaign in order to display love and affection for family members. Sharp also came up with campaigns where they asked to post the feedback of new products and technologies that they came up with. This covers the marketing mix of Sharp.
About Sharp Corporation:
Sharp Corporation, based out of Tokyo, Japan is Multinational Corporation that specializes in designing and manufacturing of electronic products. It’s headquarter is Sakai-ku, Sakai. The company was founded in the year 1912 in Tokyo by Tokuji Hayakawa. The company got its name from the product that was invented by its founder. There are approximately 50,000 employees working in Sharp Corporation. It was the tenth- largest television manufacturer in the world in 2013. It is the market leader in Japan and it has been long time too. Currently, in Japanese market, it is the third largest mobile phone brand.
In 2016, the company came under the umbrella of Foxconn group. There are many products manufactured by Sharp such as television, mobile phones, home appliances, solar cells, fax machines and LCD panels.
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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