Marketing Mix Of Casio and 4Ps (Updated 2023)

The Marketing mix of Casio analyses the 4Ps of Casio, including the Product, Price, Place, and Promotions. Casio is a public limited company associated with the electronic engineering industry. It is a multinational company that manufactures commercial and consumer electronic items. The company was founded in 1946, and its founder was Tadao Kashio, an engineer in fabrication technology. Casio has used its vast experience and latest technology to create personalized items that are energy-efficient, compact, and light. It faces competition in the market from following adversaries.

• Citizen
• Timex
• Hublot

About Casio

• Type: Multinational conglomerate
• Industry: Electronics
• Founded: 1946
• Founder: Tadao Kashio
• Headquarters: Shibuya, Tokyo, Japan
• Area served: Worldwide
• Key people: Kazuo Kashio (Chairman) and Kazuhiro Tsuga (CEO)
• Number of employees: 125,000

Casio Product Strategy

Casio has been dealing in the retail and lifestyle sector, and its products include watches and different accessories. Its portfolio is vast and has varying products that are technologically very advanced. The company’s very first product was a finger ring that worked as a cigarette holder, and this invention proved to be highly successful.

In 1954, it introduced the first electro-mechanical calculator in Japan with a 10-key number pad. In 1957, it introduced the first compact calculator in the world that was all-electric. In the 1980s, the brand became popular because of its electronic instruments, computers, and affordable musical instruments.

Casio was established as one of the first manufacturers of analog and digital watches. Its watches included features like a display of time at different time zones and a display of altitude, atmospheric pressure, and temperature. The company has also introduced digital cameras with features like LCD screens at the back and camera with ceramic lens technology.

Casio offers a diverse range of products. The new Product Mix of Casio in 2023 is as follows (Source).

1. Calculators: Casio is famous for its calculators, ranging from basic models used in education to advanced scientific and graphing calculators.
2. Watches: They produce various watches, including the popular G-Shock and Baby-G series, known for their durability and advanced features like solar power and atomic timekeeping.
3. Musical Instruments: Casio also manufactures electronic musical instruments like keyboards and digital pianos, catering to beginners and professional musicians.
4. Digital Cameras: Although less prominent now, Casio has produced digital cameras under the Exilim brand, known for their compact size and innovative features.
5. Mobile Phones: Casio has produced rugged mobile phones in some markets, often designed to withstand harsh environments.
6. Label Printers: They offer label printers for both personal and professional use.
7. Projectors: Casio makes projectors, including slim, portable models and those designed for heavy-duty use in schools and businesses.
8. Cash Registers: They provide a range of electronic cash registers and POS systems suited for retail and hospitality sectors.

Casio Place Strategy

Casio is an international company based in Tokyo, Japan. It has nearly 1,986 trademarks registered to its name. The brand serves its customers through a vast network that spreads over one hundred and eighty-seven countries. Research and development are vital parts of any manufacturing company’s business, and Casio has consistently devoted a large sum to its R&D department, which has been set up in numerous places.

To expand its market reach and broaden its horizons, the company opened plants in places like Hong Kong, Taiwan, Mexico, and California, and by the year 1996, it had set up manufacturing plants in Thailand, Malaysia, Singapore, China, and India. Casio has a highly efficient distribution policy for its products. It has exclusive agencies for selling diverse products. Its stores worldwide include New York, Paris, London, Guangzhou, Mumbai, and Dubai.

The company also has tie-ups with other outlets that sell Casio products for consumers for a pre-determined fee. It sells its products through its online store and other online shopping stores to tap the online market.

Casio’s place and marketing strategy here, which refers to how and where it distributes and sells its products, can be summarized in the following points:

1. Global Retail Network: Casio products are available worldwide through a vast network of retail stores, including electronics stores, department stores, and specialty watch retailers. This extensive presence ensures that customers in different regions have access to their products.
2. Online Sales Platforms: Casio leverages online sales through its e-commerce platforms and major online retailers like Amazon. This approach caters to the growing trend of online shopping and reaches a broader customer base.
3. Authorized Dealers and Distributors: Casio works with authorized dealers and distributors globally. This helps maintain the quality and authenticity of its products and ensures a consistent customer experience across different markets.
4. Specialized Stores for Premium Products: For high-end products like specific watch models, Casio uses specialized stores and boutiques. These offer a more exclusive shopping experience and are often in upscale shopping areas.
5. Strategic Location in Key Markets: Casio strategically places its products in key markets such as Japan, the United States, and Europe, focusing on areas with higher consumer electronics demand. This targeted approach helps in maximizing market penetration and brand visibility.

Casio Pricing Strategy

The products of Casio are technologically very advanced. Before setting up a pricing policy, the company created a research team that evaluated its prices according to market conditions. It also compares its prices with those of its competitors and, after that, sets up the actual selling price of all the variants of its products. Casio has maintained a value-added pricing policy for its goods. It has kept a medium-priced pricing policy to retain its customer loyalty. They have also targeted the middle-income group and students with sub-brands, and the pricing policy for such items is comparatively deficient. Casio also offers periodic schemes and product discounts to increase its revenues.

Casio’s pricing strategy reflects a keen understanding of its diverse market share, segments, and product offerings, balancing quality, innovation, and affordability. Here’s a breakdown of their approach:

1. Value-Based Pricing: Casio employs a value-based pricing strategy, setting prices based on the perceived value of their products to the consumer. This is evident in their high-end watches and advanced calculators, where combining innovative features, durability, and brand prestige commands a premium price.
2. Competitive Pricing: In markets with intense competition, especially in consumer electronics like calculators and watches, Casio strategically prices its products to be competitive. They ensure they offer better value or unique features at similar or slightly higher prices than their competitors.
3. Product Line Pricing: Casio uses product line pricing to differentiate between their essential, mid-range, and high-end products. This tiered approach caters to a wide range of customers, from budget-conscious buyers to those seeking premium products, and helps in upselling and cross-selling across different product categories.
4. Geographical Pricing: Recognizing the economic variations across different regions, Casio adjusts its prices based on geographic location. This ensures optimal pricing in other international markets, considering factors like local purchasing power, taxes, and import duties.
5. Promotional and Discount Pricing: Casio periodically employs promotional pricing strategies, such as discounts and bundle offers, especially during festive seasons or for clearing stock. This not only boosts sales but also helps attract price-sensitive customers and maintain market competitiveness.

Casio Promotion Strategy

Casio has always believed in international marketing and has taken numerous steps in this direction. It has invested millions in advertising policies to create and maintain brand awareness. Its logo, white and blue color, is easy to remember. Casio’s marketing strategy has tie-ups with various fashion houses and has been an avid sponsor of numerous high-profile events. It has emphasized creating innovative designs to attract the youth section of society. Commercials are shown on television, and their ads are displayed on print media like magazines, billboards, and newspapers. The company has also promoted its products through online media and has successfully created a significant consumer base.

Some Recent Video ads and Print ads of the Casio company are:

Celebrating the 25th anniversary of Casio India (Watches) – YouTube

2023 | CASIO

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