Faber Castell Marketing Strategy & Marketing Mix (4Ps)
Published by MBA Skool Team, Last Updated: January 05, 2019
Marketing Strategy of Faber Castell 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 Faber Castell marketing mix, help the brand succeed in the market.
Faber Castell marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Faber Castell Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Faber Castell marketing strategy can be explained as follows:
Faber Castell is one of the world’s leading stationary brands. Faber Castell mainly serves a consumer base between the age group of 4 to 20 years of age. This 125-year-old company started off as making pencils and diversified into other stationary products as a part of its marketing mix product portfolio like staplers, erasers, rulers, slide rules, coloured pencils, pens, pastel colours, watercolours, hand lettering, journaling & calligraphy pens, manga and comic illustrations, drawing and sketching sets, oil pastels, art grip aquarelle, ink, glue, highlighter to name a few. The brand also provides hobby materials like craft scissors, stencils, canvas kit, three-dimensional outliners, modelling dough, sharpeners etc.
Faber Castell Price/Pricing Strategy:
Below is the pricing strategy in Faber Castell marketing strategy:
Faber Castell products are excellent in quality and are available at surprisingly affordable prices.
The pricing strategy varies from product to product depending on its type, quantity and size. The brand adopts market penetration strategy to cater to a wide array of customers from professionals, children and artists. Faber Castell’s promotion strategy and impeccable quality are aimed to increase volume and market share of the products. Vietnam is one market it is unable to penetrate and to do that it lowered the manufacturing cost with cheap labour cost. Faber Castell also offers various discounts to customers like seasonal discounts, cash discounts, promotional discounts and discounts through quantity. The products sold online are also available at a cheaper rate as compared to retail stores.
Following is the distribution strategy in the Faber Castell marketing mix:
Faber Castell being the huge brand it has its presence across the globe. One of the places it has not been able to enter is Vietnam. Faber Castell uses a retailing and wholesaling method to penetrate different segments of a consumer base. The product this brand offers can be found in bookstores, supermarkets, stationery stores and mini markets. Faber Castell also directly sells its items directly to its end user if the order amount is big in quantity. The company uses a push strategy to induce intermediaries to buy the product. Faber Castell has its own distribution channel and hence are able to offer their products at an unbelievably economic process. Faber Castell also sells its products online to increase market penetration. With the word moving to an online platform all the products by this brand can be found in online websites like Amazon, Itsy Bitsy, Etsy etc. which helps increase the consumer base of the product.
The company produces its products in nine different countries with the sales team in 22 countries and then sells these products in over 120 countries around the world.
Faber Castell Promotion & Advertising Strategy:
The promotional and advertising strategy in the Faber Castell marketing strategy is as follows:
Faber Castell uses traditional marketing strategies to promote its brand like digital print, television, cinemas, newspaper, magazines, advertisement on public transportation, billboards along the road, social networking site etc. It also gives out free samples to people, twin packs, buy one get another item free sort of strategies as its sale promotion means. All Faber Castell products are of an amazing quality which form the core of its brand equity and the company rarely needs any promotional techniques. Moreover, the brand is much loved among artists which commands brand loyalty from its users. Hence this concludes the marketing mix of Faber Castell.
About Faber Castell:
Faber Castell was founded by Kaspar Faber in 1761. The company had very humble beginnings as Kasper Faber trained as a carpenter and opened a small workshop where he made pencils, which was the carpenter trade at that time. The one thing that set Faber's pencils apart was the fact that he mixed graphite with sulfur, antimony, and binding resins so as to prevent the graphite from crumbling and breaking. The company business took a turn when Kasper Faber's grand-daughter married Count Alexander Castell and the family business was rebranded as Faber Castell with Castell house's coat of arms (Two knights jousting) as the logo of the company in a regal green colour. This logo choice was done to set the company apart from its competitors. This humble pencil was turned into the world's first branded writing instrument by Baron Lothar von Faber and by the mid 19th century the company developed into one of the major wood-cased pencil-producing brands.
Today Faber Castell is 125 years old which makes it the oldest and largest manufactures of not only pencil but other stationary items. every year the company makes about two billion pencils alone in one twenty colours.
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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