Published by MBA Skool Team, Last Updated: November 18, 2017
Marketing Strategy of Fujifilm analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Fujifilm marketing mix, help the brand succeed in the market.
Fujifilm marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Fujifilm Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Fujifilm marketing strategy can be explained as follows:
Fujifilm looks for what people need and then come up with a diverse range of innovative products and services in its marketing mix. They use progressive technology to improve their products’ quality and services and nurture market sustainability around the globe. Professionals from diverse fields use Fujifilm products to win satisfied customers and strengthen competitiveness. Keeping the customers in mind, Fujifilm have divided their products into two categories:
1. Consumer Products
• Fujifilm Digital Cameras: Award winning range of cameras suited to Pros and enthusiasts.
• Films & Cameras: For expressing the richness of films.
• Instant Photo System: A wonderful experience of shooting and getting the results printed right away.
• Binoculars: A full line of high performance and reliable binoculars, ranging from high-grade models for professional users to image-stabilizing binoculars, large and marine binoculars that are waterproof, lightweight and durable and compact binoculars.
• Skincare: ASTALIFT series aims to achieve ‘Photogenic Beauty’ to project the beauty in the photographic film field creating brighter future for your skin.
2. Business Products
• Medical Systems: Fujifilm is a pioneer in clinically proven diagnostic imaging and information systems for healthcare facilities.
• Graphic Systems: In a field of printing system suppliers, Fujifilm printing plates command a 40% market share worldwide
• Photofinishing Products: Fujifilm's exclusive Image Intelligence brings beautiful prints using environmentally friendly technology.
• Motion Picture Products: Fujifilm provides motion picture archival film and on-set color management solutions for the motion picture, broadcast and production industries to serve the critical colour management needs.
• Optical Devices: Fujifilm’s one of the world leaders in optical technology and production scale in lens grinding, aspherical plastic lens fabrication, aspherical glass lens fabrication.
• Recording Media: Fujifilm benchmarked in the field of computer data storage, professional video production and TV broadcasting which are backed by reliability and security.
• Industrial Products: Fujifilm provides equipment which use digital X-ray technology to find defects, prescale to enable visual confirmation of physical pressure, microfilm solutions for long-term archiving and micro filters ensuring precise filtering with their proprietary microporous membranes.
• Semiconductor Materials: The Company provides a wide range of products and services that are used throughout the semiconductor manufacturing process.
• Biomaterials: Fujifilm offers unique and new biomaterial for a broad range of medical and pharmaceutical applications.
Fujifilm believes in achieving the solutions that can drive tomorrow's industries without putting the company at the risk of drowning. Their products assure reliability and are backed by continuous innovation.
Fujifilm Price/Pricing Strategy:
Below is the pricing strategy in Fujifilm marketing strategy:
Fujifilm follows the demand oriented pricing concept in its marketing mix strategy.
As the name suggests demand oriented pricing customer demand is used to set up the price in the market. This includes first determining the customer’s willingness to pay for the good or service that is being offered. The product or service is charged high when the demand is high and a low price is charged when the demand is low. Though in 2016, Fujifilm announced increase in the price of photographic films. The products included were Photographic Film: Color Negative Film, Color Reversal Film, Black and White Film and Quick Snap. The main reason was continuously decreasing demand for film products which resulted in high cost of making because the price of raw materials remains high and cost increase linked to lesser volumes becomes much serious. Under such circumstances, to sustain their photo imaging business, Fujifilm decided to increase the price of photographic films. Despite the rise in the price, Fujifilm remained committed to photographic products.
Fujifilm Place & Distribution Strategy:
Following is the distribution strategy in the Fujifilm marketing mix:
Fujifilm has a wide spread network in North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. They operate in a very efficient and structured manner with a well spread distribution network. To maintain the quality of their products, the company has invested a good amount in their manufacturing plants, advance research and developments centres and suppliers to reach the potential customers through different outlets like electronic shops, film studio, showrooms and other retail markets.
Fujifilm products are also available on e-commerce platforms.
Fujifilm Promotion & Advertising Strategy:
The promotional and advertising strategy in the Fujifilm marketing strategy is as follows:
Fujifilm has used both offline and online method of creating product awareness among masses. Using print media, the products have been advertised in magazines and newspapers. Various television commercials have also been used to promote the products like Insta Photo. Social media platforms like Facebook, Youtube and Twitter are used as well to make customers aware about their products. The company website, itself has news feed section to make the customers aware about the company and its products. Apart from this, Fujifilm has also provided offers like cashback and contests to promote their brand.
Hence this concludes the Fujifilm marketing mix.
Fujifilm, established in 1934 with the aim of producing photographic films in Japan, is regarded as one of the best camera brands worldwide. The Fujifilm company has consistently maintained its pace with the changing times, has involved with a wide range of technologies and provided innovative products and services.
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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