Marketing And Toshiba Analysis Essay Example

marketer of advanced electronic and electrical products, is a global leader and innovator in pioneering high technology. Another important brand strategy decision is the selection of the brand name.

The brand name is crucial in conveying the advantages and characteristics of a product. It must also be easily pronounceable, recognizable, and memorable for customers. Toshiba took great care in selecting a brand name that would create a positive impression amongst customers, based on thorough analysis of the product and its benefits. Additionally, Toshiba's brand sponsorship includes a unified marketing program featuring social media activity, an online campaign, and media partnerships. In recent years, Toshiba's sponsorship efforts have included prominent global partnerships within the realm of sports.

Various tactics can be employed for brand advancement in brand development. For instance, Toshiba showcased Toshiba laptops as a crucial element of the Toshiba Multi Screen Vision during a press event in Barcelona. They unveiled multiple new products that emphasized the importance of well-established interfaces such as USB, WALL, Bluetooth, Mobile Broadband, HIDE, and SD-Card slots in their TVs. Furthermore, Toshiba devoted about two hours to designing TV products specifically for broadcasting an entire football game.

Toshiba's release of the initial TV sets that are compatible with Windows 7 in European countries has the potential to enhance future business sales. These TV sets allow users to receive multimedia streams from laptops configured with Windows 7. Toshiba's pricing strategy is influenced by two significant factors: internal and external factors. Both these factors play a vital role in determining the organization's transaction cost and profit. The internal factor relates to the strengths and weaknesses within the organization.

Internal factors within an

organization include things, events, conditions, and situations. Toshiba determines product prices based on the productivity of their manufacturing facilities. They focus on the quantity of products produced within a specific timeframe to reduce costs and maximize profits. In contrast, external factors encompass opportunities and threats that affect the organization's performance.

Toshiba prices their products by comparing their competitor's prices in order to ensure careful pricing that preserves their profit. The new product pricing strategy implemented by Toshiba includes market skimming pricing and market penetration pricing. Market skimming pricing involves setting a high price for a new product to target consumers willing to pay a premium price for the product.

The pricing strategy of market penetration aims to generate fewer but more profitable sales for the organization. It involves attracting customers to a new product or service by initially setting a low price. This strategy allows the product or service to quickly and deeply penetrate the market. By offering a lower price, it can attract a larger number of buyers and achieve significant sales. On the other hand, Toshiba implements market-skimming pricing by initially setting a high price for a new product to maximize revenue over time.

Toshiba's strategy involves making fewer, yet more profitable sales, and implementing market-penetrating pricing by offering low prices on new products to increase customer awareness and attention. One example of this strategy is the Toshiba PEMBROKE HAD LED TV, which is sold at a low price to attract more customers to try Toshiba products. Additionally, Toshiba utilizes optional-product pricing to offer a variety of optional or accessory products along with their main products, such as sets and AD Glasses.

Customers

have the option to choose whether they want to purchase just the television or the television along with the accessories. The pricing strategy known as Captive-Product Pricing establishes the price for products that are necessary to use with the main product. An example of this is Toshiba selling their color printers, model 12A5851, for IIS$99 but the toner cartridge for the printer costs around IIS$149. Additionally, Product Bundle Pricing determines the price for products that are intended to be sold together. For instance, when buying a Toshiba laptop, customers also receive lightweight cases, a USB mouse, an external keyboard, and even an external laptop battery charger.

The Price Adjustment Strategy known as Discount and Allowance Pricing serves to lower prices as a way to incentivize customer behavior. Discounts are offered to customers who pay their bills ahead of schedule or who purchase products in bulk. By employing this strategy, organizations can increase sales and profits. Additionally, the strategy includes allowances as rewards for dealers who partake in advertising and sales support programs. As an example, Toshiba rewards wholesalers and retailers for their exceptional sales performance and product advertising.

In conclusion, Promotional Pricing is a pricing strategy that immediately lowers the price to boost sales in the short term. However, reducing the price of a product can potentially harm the organization's reputation. Therefore, careful planning is necessary before implementing this strategy. Toshiba has recently reduced the price of the Intel Coheir laptop in order to promote it, as sales have been declining for several months.

Place Strategy

A marketing channel or distribution channel refers to the physical flow of goods and services from vendors

to consumers.

A distribution channel can be as straightforward as a direct transaction from the vendor to the consumer involving wholesalers, distributors, agents, and retailers. Each channel receives the item at a specific price point, which gradually increases until it reaches the final buyer. Toshiba manages a marketing channel with more than 400 authorized dealers nationwide. The company communicates with these dealers through email updates, webmasters, partner account managers, and reseller conferences. Additionally, Toshiba has established a partner information site to facilitate easy access to sales materials and product information for all dealer channels.

Toshiba has introduced a marketing initiative that enables dealers to include personalized content in their printed materials. As the manufacturer, Toshiba sells its products in bulk to wholesalers who then sell them at a higher price to retailers. Moreover, Toshiba has authorized dealers who serve as retailers and directly offer their products to the market. Ultimately, customers purchase Toshiba products from retailers, generating profit.

A retailer, whether a business or an individual, sells products directly to consumers. Conversely, wholesalers or suppliers sell products to other businesses. Retailers purchase goods with the aim of selling them and maximizing profits while prioritizing customer satisfaction as crucial for their success. On April 17, 2012, Toshiba acquired Vim's Retail Store Solution (IRS) for IIS$ million, thereby becoming the leading global company in retail point-of-sales systems by providing a diverse selection of hardware, software, and integrated in-store solutions.

The acquisition will enhance Toshiba's global point-of-sale business, allowing them to provide more value to customers. This includes retailers like mass merchandisers, specialists, convenience stores, and fast food restaurants. Retailers with an international presence will benefit from tailored product

development and solutions that meet their specific regional needs. Moreover, Toshiba customers will have access to a comprehensive "one-stop retail store solution" that covers planning, maintenance, and services.

Toshiba products can be conveniently purchased by customers from different retailers such as Loyalty and Digital Mall. Wholesalers, also called distributors, contribute to the distribution process by buying large quantities of goods from multiple producers or vendors and storing them in a warehouse. These goods are subsequently sold to retailers at a profitable price. Due to their bulk purchases, wholesalers are able to secure lower prices compared to retailers and consumers.

Toshiba has established strong partnerships with various wholesalers to distribute its products globally. This has made Toshiba a renowned leader in COSMOS technology and the IT industry, offering one of the most extensive ICC product lines. In addition, Toshiba has authorized dealers worldwide. Since 1986, Toshiba has consistently ranked as the top supplier of optoelectronic and discrete components globally. On September 23, 2008, TIT, INC. signed a distribution agreement with Toshiba to successfully distribute their complete range of discrete portfolio, photo-couplers, standard logic, and select analog components.

TIT, INC. is an authorized distributor of Toshiba and specializes in distributing power and small signal discrete, optoelectronic, logic, and tutor control drivers. Other distributors of Toshiba include Toshiba Sales and Services Sad Bad, Eternal Asia (M) Sad Bad, and Toshiba Electronics (M) Sad Bad.

Promotion Strategy

Advertising is a paid method of non-personal communication through selected media that requires payment for placement. It is considered a mass promotion technique as it allows a single message to reach a broad audience.

Toshiba utilizes advertising to boost awareness of

the Toshiba brand and establish trust among individuals in different countries or regions where the company operates. Advertising allows Toshiba to effectively share product information with consumers, reaching a wide audience and creating brand recognition. Furthermore, it generates symbolic appeals that inform consumers about the ongoing quality and availability of the product.

The advertising strategy employed by Toshiba Company helps them introduce new products to the market and generate primary demand. Sales promotion is a marketing technique used to add value to sales and create sales for a product within a specific time frame. Toshiba Company recognizes the significance of adhering to legal and best practice standards in order to execute an effective and engaging promotion for consumers.

Toshiba Company utilizes sales promotion as a means of driving sales and encouraging repeat purchases while also enhancing customer awareness and loyalty. Through strategies such as offering discounts, rebates, and sampling-trial products, Toshiba entices existing customers to make additional purchases, thereby reducing the company's turnover. Furthermore, this approach helps Toshiba Company sustain its sales during off-peak periods, as consumers can still enjoy benefits such as discounts when purchasing from Toshiba.

Toshiba Company utilizes sales promotion to distinguish its products from competitors. Public relations involves establishing and maintaining positive relationships with various stakeholders, including customers, employees, investors, and applicants. The responsibility of Toshiba's public relations team is to create and implement the company's marketing communication efforts.

Toshiba strives to improve its brand reputation by aligning with public values, respecting local cultures and traditions, and building consumer trust in their product. Additionally, Toshiba is committed to maintaining integrity and sensitivity in all interactions with the public through effective public

relations strategies and clear communication of product messages by salespeople.

Moreover, the utilization of public relations by Toshiba Company has the potential to boost the attractiveness and sales of their products. When consumers have the opportunity to personally encounter and assess the reality and quality of Toshiba's offerings, it increases their inclination to make a purchase. Evaluating Toshiba's marketing strategies for electronic devices reveals their effectiveness, which has consequently generated substantial demand and revenue for the company. The exceptional features, quality, and design of Toshiba's products are key factors contributing to this success.

However, Toshiba should establish an AD TV due to the ever-changing current technology. With AD vision, customers can experience a more realistic vision of movies and become fully engrossed. Additionally, Toshiba should introduce a waterproof TV, allowing customers to enjoy movies even in the bathroom. This way, customers can watch movies while bathing or having a spa, reducing the stress for busy individuals who struggle to find time for movies. Researchers believe that advancements in features, design, and technology will greatly boost sales of Toshiba electronic devices.

Toshiba employs a pricing strategy for its TVs that involves offering one TV with multiple features at a high price. However, it would be advantageous for Toshiba to classify the TV features and produce various models that cater to specific customer requirements. For example, Toshiba could introduce a gaming TV that offers top-notch quality for video game enthusiasts. This approach would enable gamers to buy an affordable gaming TV instead of paying extra for a TV with general functions. Furthermore, Toshiba may also consider including a set of screen cleaning tools in the packaging

to aid customers in keeping their TV screens clean.

To potentially increase profit, it would be beneficial for the company to include a set of cleaning tools in the box. In terms of distribution, Toshiba should consider making their new product available through online retailers. The company has an extensive network of authorized dealers and collaborates with wholesalers to distribute products globally. Moreover, Toshiba has its own authorized retailers that sell their products at a premium to maximize profits. By offering online retail options, customers can instantly access information about the latest product upon release without having to wait outside physical stores.

Toshiba differentiates itself from competitors by offering online retail options, providing consumers with a convenient and preferred choice for purchasing their products. This sets Toshiba apart from companies that lack online retail services. Additionally, Toshiba excels in promotion strategies. To further enhance Toshiba's reputation, promoting their products during major events like the Super Bowl, which has a large American audience, could be considered.

Additionally, Toshiba should sponsor the PC Fair to showcase their diverse range of products, increasing public awareness. Taking advantage of this opportunity, Toshiba can promote their latest and most advanced technology through demonstrations. This will likely attract potential customers and ultimately boost company sales. Although Toshiba's current strategies are effective, there is room for improvement to further enhance sales.