Casio Marketing Strategy & Marketing Mix (4Ps)
Marketing Strategy of Casio analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Casio marketing mix, help the brand succeed in the market. Let us start the Casio Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Quick Glance:
Casio Product Strategy:
The product strategy and mix in Casio marketing strategy can be explained as follows:
Casio is one of the leading consumer electronics company is the world. Japanese industries primarily have a strong inclination towards producing electronic products with innovation and cost effective means. Continuing with this trend Casio has a wide range of products in its marketing mix catering to the needs of the consumer electronic products including Casio Calculators, Digital Wristwatches, Musical Instruments, Digital Cameras, Projectors, Computers, Mobile Phones, Printing Systems, Game consoles Electronic Dictionary etc. The most well known Casio products include from the categories of watches and calculators. There has been greater demand for basic and scientific calculator series for Casio and has been able to produce various models required for different applications. Similarly there is a widespread demand for the wristwatches of Casio specifically the G-Shock series have greater demand due to its ability to resist mechanic shocks and vibration.
The ability to innovate with the digital and analog with additional features watches made Casio brand popular from 1980’s. The other range of popular products offered by Casio include the musical instruments like digital keyboards, guitars and piano which were highly affordable. Office requirements like computers, printers, projectors, data bank and digital diaries had its own set of niche market. The innovation from cameras was done with the launch of Casio Exilim series which were ultra-thin models.
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Casio Price/Pricing Strategy:
Below is the pricing strategy in Casio marketing strategy:
Casio products are purchased due to its differentiating factor in terms of offerings and the pricing of the products. Most of the Casio electronic consumer products prices are set after conducting detailed market study by analysing the pricing adopted by the competitors.
For newly launched products Casio adopts market skimming strategy as a part of its marketing mix based on the advantage of its unique offerings. Later they reduce they reduce the price by offering various discounts and schemes to attract consumer base. Similarly different versions of the items like calculators, watches etc. have adopted product line pricing based on the additional features it offers to the consumers. Generally the prices of Casio products are adopted considering the middle class segments to retain the customers. There has been clear identification of different customer groups and the product requirements for deciding the prices of the product which include students and office employees.
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Casio Place & Distribution Strategy:
Following is the distribution strategy in the Casio marketing mix:
The Japanese electronic consumer MNC Casio has established a strong distribution for around one hundred and eighty countries which also includes manufacturing and assembly units. The major focus of Casio has been towards establishing innovative products and this has resulted in establishment of R&D centres at different regions. The major success of widespread of Casio products has been attributed to the indirect distribution channel which has enabled the selling through retailers, wholesalers, agents and distributors across different countries. This can be vouched from the fact that majority of stores sell different types of Casio products. There has been presence of exclusive stores of Casio across different cities selling different variants. Also to reach a larger customer base online selling of Casio products have also been made possible. Thus due to its easy accessibility and availability the products from Casio can be termed to be convenience products. Casio offers a warranty for each of the product and the consumers can contact the sellers for availing such services.
For the intention of addressing consumer complaints Casio receives feedback from such seller and together they resolve the issue.
Casio Promotion & Advertising Strategy:
The promotional and advertising strategy in the Casio marketing strategy is as follows:
Products of Casio are widely targeted for youth and middle aged people which includes students and office going segments. Casio products are promoted through printed advertisements and different products are advertised through different approaches depending on customer segments and needs of the local market. The online presence also has assisted in making the products more visible to consumers and different offering and services are specified accordingly. However, efforts are required to have a wider and long term strategy to promote different Casio products and its features aggressively in the competitive market. Hence, this concludes the marketing mix of Casio.
About Casio:
Casio Computer Company, Limited popularly known as Casio is one of the largest Japanese consumer electronic product manufacturer acquiring a multinational status with its presence across all the continents. The company headquartered in Shibuya Region of Tokyo was founded in the year 1946 by Tadao Kashio. The Casio company is primarily known for the release of the world’s first electric compact calculator in the year 1957. Besides the widespread calculators some of the other innovation was done in terms of cameras, watches, musical instruments, clocks, office computers, printers and office electronic stationaries. The products from Casio have a widespread consumption due to its simplicity and innovation resulting in compact, light and energy efficient personalized items which can be seen from the calculators and watches.
With its strong distribution network Casio has been able to penetrate not only Asian but European and American markets too. The budget friendly and elegant products have helped in raising market share of the product.
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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