Faber Castell Marketing strategy – The marketing strategy of Faber Castell: The brand was founded in 1761 by Kasper Faber. It is the largest Pencil Manufacturer in the world. The German company is the largest stationary player in over 120 countries worldwide, distributing a variety of products including Colours (Poster Colours and Crayons), Art & Hobby Kits.
Faber Castell At A Glance – Marketing Strategy of Faber Castell
Company : Faber Castell
CEO: Stefan Leitz
Founder: Kaspar Faber
Year founded: 1761
Headquarters: Stein, Germany
Annual Revenue: €587.5 million
Number of employees : 6500
Products & Services: Art materials, Writing instruments (gift ideas, office supply, art supply, fine writing, exclusive writing, fountain pens, ballpoint pens, biros, pencils, coloured pencils, polychromos)
Faber Castell Competitors
Competitors: Corelle Brands | Sunjoy | Rockline Industries | Ariston Thermo Group
Faber Castell Fun Facts: In 1900, after the marriage of Lothar’s granddaughter and heiress with a count of Castell, the A.W. Faber enterprise took the name of Faber-Castell and a new logo, combining the Faber motto, Since 1761, with the “jousting knights” of the Castells’ coat-of-arms.
Marketing Strategy of Faber Castell
Faber Castell’s Marketing Strategy covers various aspects of the business right from segmentation and targeting to the overall mission and vision of the company and the various parameters which the company executes to become the top brand that it has in the market. So what is the Marketing Strategy of Faber Castell? Let us discuss.
Segmentation, Targeting, Positioning – Faber Castell Marketing Strategy
Segmentation is a way to understand different customer segments in the market, and their diverse wants and needs. Faber Castell uses a mix of demographic as well as psychographic segmentation variables like age, gender, the income of parents, location, behavioral aspect, etc.
Some of the company’s offerings include pencils and pens, glue, marker, and professional artist colors. Others include office supplies, art & hobby kits, highlighters, pencils, markers, and modeling dough that uses a selective targeting strategy.
Positioning creates an imaginary stimulus in a customer’s mind that helps the brand be ahead of its competition. Faber Castell employs a mix of usage and value-based positioning strategy.
Faber Castell Mission Statement
“To bring to you the tools of expression. We help to draw life into wonderful ideas. We build with the world of imagination that will never fade away.”
Faber Castell Vision Statement
“Quality, tradition, and innovation now and in the future”
Faber Castell Tagline
“Companion for Life”
Competitive Advantage – Faber Castell Marketing Strategy
The 256-year-old company is a leader in the stationery market worldwide with over 8000 employees, of which 1100+ are located in Germany. The company has a rich and varied experience in the field which not only helps it to be a stationery company but also in helping it to establish itself in the most unorganized market.
A wide range of offerings:
The Company offers a strong product portfolio that includes art and craft tools, as well as writing instruments. These are aimed at professionals around the globe.
BCG Matrix – Faber Castell Marketing Strategy
Faber Castell has business segments like Creative Studio products and Art & Graphic.
It faces competition from the unorganized sector in many developing countries. Therefore, Creativity stationeries and fine writing tools business segments are the question mark in the BCG matrix, while other business segments have the dominant position and are therefore Stars in the BCG matrix.
Distribution Strategy – Faber Castell Marketing Strategy
To make its products accessible in rural areas, the Company uses a brick and motor distribution method. It uses a variety of distribution channels, including Pop & Mom’s stores, retail outlets, distributors/ wholesalers, and eCommerce websites.
The company’s offering is made in 9 countries worldwide, while its sales team in 22 nations makes the products available in more than 120 countries.
Brand equity – Faber Castell Marketing Strategy
Faber Castell, a German Pencil Maker brand, is well-known for its creativity, innovation, quality, and ability to meet changing customer needs. The brand can be further divided into sub-segments brands that include Children’s Brands, which include Creativity For Kids and premium children ART items; Premium Art Brands consisting of Creative Studio and Design Memory Craft; while the Fine Writing Brand segment includes Graf von Faber-Castell Design and Faber- Castell Design. The group was valued at EUR 613 million (EUROs).
Competitive Analysis – Faber Castell Marketing Strategy
Companies face a challenge when operating in this industry. This is because it is difficult to access the market from remote locations. It reduces the margins for the channel partners and also affects prices for the offerings. Faber Castell is no exception.
The Company competes on large SKUs (stock-keeping units), a variety of products, and several sub-brands like Ambition, Loom, or Ondoro.
Faber Castell is also competing with CAMLIN and Karlbox as well as Newell Rubbermaid and Zebra.
Market Analysis – Faber Castell Marketing Strategy
With the rise of emerging nations like India, the market for stationery items is growing. 15000 crores
Companies operating in the market face significant risks from the unorganized sector, local suppliers, and technology adaptation. The market is experiencing rapid technological adaptation, but it is the growth of the businesses that are driving the structural changes.
Customer Analysis – Faber Castell Marketing Strategy
With its wide range of offerings, the company can serve a broad customer base. Retail Businesses The majority of their customers are between 5 and 20 years old, who attend schools, universities, or colleges.
It caters to the changing requirements of large corporations, government institutions, and architectural firms.
This is the Marketing Strategy of Faber Castell. Please let us know if you have additional suggestions to add.
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