Marketing Strategy of Casio – Casio Marketing Strategy: Tadao Kashio, a Japanese consumer electronics manufacturer & marketing multi-national corporation (MNC Casio Computer Co. Ltd) founded the company in 1946. He developed the first product, the Yubiwa Tube, a Cigarette holder. The company capitalized on its global popularity by focusing on the development of Calculators.
Casio is a Japanese Company. It was founded by Kashio Seisakujo founded in Mitaka, Tokyo in 1946. Casio’s flagship factory is located in Yamagata, where watches are mostly made in Thailand and China.
Casio At A Glance – Marketing Strategy of Casio
Company: Casio Computer Co., Ltd
CEO: Kazuhiro Kashio
Founder: Tadao Kashio | Toshio Kashio
Year founded: April 1946, Tokyo, Japan
Headquarters: Shibuya City, Tokyo, Japan
Annual Revenue: Yen¥280.7 billion
Profit | Net income: Yen¥12 billion
Number of employees : 10,404
Products & Services: Timepieces | Electronic Musical Instruments | Calculators | Projectors | Label Printers | Cash Registers | Handheld Terminals
Casio Fun Facts: Casio list would be complete without one of the most legendary watches of all time; the F-91W. Worn by presidents and terrorists alike, this piece holds the record as the most popular digital watch of all time.
Marketing Strategy of Casio
Casio’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 Casio? Let us discuss.
Segmentation, Targeting, Positioning – Casio Marketing Strategy
Casio employs a combination of demographic, geographical, and psychographic segmentation strategies variables like age, income, family background, and working conditions. It also uses literacy levels to determine the customer’s needs.
It employs a differentiated targeting strategy to develop strategies for acquiring potential customers from different segments of the product categories.
Casio is present in many categories of electronics products, so it employs a combination of customer benefits and product-class positioning strategies.
Casio Mission Statement
Casio Vision Statement
“Envisioning the world no one has ever seen”
“Creativity and Contribution”
Competitive Advantage – Marketing Strategy of Casio
A broad portfolio of products: Casio leads the growth in emerging economies thanks to its broad product portfolio. This not only helps the company offer a wide range of products for its customers, such as calculators, electronic items, or office equipment.
Strong Hold In Consumer Electronics Segment: Casio’s strong product lines in the consumer electronics segments have not only helped to retain its customers but also contributed to the company’s 85%+ revenue from this segment.
Glocal Strategy: Expanding its footprint in emerging markets, and focusing on local market product needs has allowed the company to expand globally while acting locally.
BCG Matrix – Casio Marketing Strategy
Casio products can be divided into three types: consumer electronics, system equipment, and others.
Although the company does have products in its consumer electronics segment, such as electronic calculators, watches, cameras, etc., the BCG matrix has raised questions about the segment due to its large competitors.
Casio has limited offerings in this category of office equipment products, which is why it is not included in the BCG matrix.
Distribution Strategy – Marketing Strategy of Casio
Casio has used multichannel distribution models to distribute its products through various channels, such as retailers, distributors/ wholesalers E-commerce websites, Pops and Mom shops, etc.
The company’s large product portfolio is responsible for reducing distribution costs and optimizing the channel.
Brand equity – Casio Marketing Strategy
Since its inception, Casio has been synonymous with watches and calculators. Casio’s calculators are so well-known in the markets where it operates, that it is helping the Brand to create high visibility in the market. This helps increase its (TOMA) awareness.
It was ranked 40 on the Interbank list of Japan’s top global brands in 2016.
Competitive Analysis – Casio Marketing Strategy
Casio competes in a highly competitive market with many multinational, national, and local companies. Companies operating in this market are highly price-sensitive and face competition from imitations.
Market Analysis – Marketing Strategy of Casio
Casio is facing many bottlenecks regarding technological product lifetime, rapid technology change, regulatory guidelines labor cost, political instability, and currency fluctuations. This makes certain products, such as calculators, out of fashion/use.
Customer Analysis – Casio Marketing Strategy
Casio touches the lives of every age group of customers through its product portfolio, especially in emerging markets where there is less competition.
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