Reducing prices to reward customer responses such as paying early or promoting the product Segmented pricing Adjusting prices to allow for differences in customers, products or locations Psychological pricing Adjusting prices for psychological effect Promotional pricing Temporarily reducing prices to increase short-run sales Geographical pricing Adjusting prices to account for the geographic location of customers Dynamic pricing Adjusting prices continually to meet the characteristics and needs of individual customers and situations International pricing Adjusting prices for international markets Discount and Allowance Pricing — Price Adjustment Strategies The first one of the price adjustment strategies is applied in a large share of businesses. Especially in B2B, this price adjustment strategy is rather common.
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Casio has developed a number of electronic products for consumers and businesses based on digital technology and the use of integrated circuits, such as digital cameras.
The company also manufactures telecommunications products, including pagers and mobile phones. In Casio was among the first Japanese manufacturers to fully automate an assembly plant, and this sort of innovation has allowed the firm to remain cost-competitive with other larger electronic manufacturers.
As a result of its assertive marketing, the company sells its diverse products in more than countries. Four Kashio brothers--Toshio, Kazuo, Tadao, and Yukio--and their father founded a company that was to be managed under a "spirit of creation"; the company philosophy remains "creativity and contribution.
Other major holders of Casio stock are Japanese financial companies, none of which owns more than 4. The Kashio brothers remain active in the management and operation of the company, as well: Toshio Kashio serves as chairman, and Kazuo Kashio is president. The name Casio is an anglicized version of Kashio, demonstrating that from the beginning the company was acutely aware of the economic significance of international marketing.
The company capitalized on this invention and became the only Japanese manufacturer to specialize in electric calculators. Casio has consistently sought to expand its product line while relying upon calculators as its primary base of operations.
Prior to electromechanical calculators were large and expensive. These earlier devices, limited in function and speed, were also prone to mechanical failure. The development of semiconductor and integrated-circuit technologies during the s began to reduce the size and cost of electronic calculators dramatically and simultaneously enhanced their reliability.
Electronic calculators were also easier to read, despite their smaller size, due to technical breakthroughs in light-emitting diodes LED and liquid crystal displays LCDand these new technologies required significantly less power to operate.
In the first transistorized, programmable, desktop calculators were introduced, and Japanese manufacturers, including Casio, began to assemble electronic calculators.
The entire output from all Japanese electronic manufacturers in was only about 5, units. Very few of these early Japanese electronic calculators were destined for the U. In the United States imported just 69 electronic calculators from Japan, and in Japanese calculators accounted for less than one percent of the U.
Casio did not begin to market its own products in the United States until In the s Japanese electronic products, particularly consumer electronics, began to capture a larger share of the ever-expanding U. By the mids Japanese electronic manufacturers came to dominate the U.
Japanese companies competed fiercely for market share, and eventually only Sharp and Casio were left. Casio aimed for the bottom of the market, selling small, low-cost calculators with a variety of novel functions.
The calculator division grew steadily, manufacturing standard electronic calculators, high-performance scientific calculators, pocket computers, and digital diary systems. The electronic-timepiece division also prospered, making a variety of digital and analog watches, many with built-in memory and storage features.
Expanding Product Lines in the s After years of market expansion during the s and s, however, Casio found that market demand in timepieces became stagnant.
As a result of market saturation, Casio introduced a number of new timepieces to maintain market demand during the late s, including such products as watches that measured altitude, depth, and barometric pressure; phonedialing watches; and watches that could record caloric consumption or serve as a pedometer.
The electronic-musical-instrument division manufactured such products as electronic keyboards and digital synthesizers, guitar synthesizers, digital horns, and other sound generators.
He had been interested in mass-marketing musical instruments for a while, but manufacturing costs were too steep.It has adopted midlevel pricing strategy to capture consumers from urban region who prefer style over class. The pricing of major products fall between to .
In relation to Casio’s tax affairs and operations, Casio strives to ensure that the appropriate amount of tax is paid in compliance with each country’s tax laws, taking into account tax specific legislation in relation to transfer pricing, anti-tax avoidance measures, international tax and other statutes.
Companies must adjust their basic prices to account for differences in customers and situations. There are seven price adjustment strategies: Discount and allowance pricing, segmented pricing, psychological pricing, promotional pricing, geographical pricing, dynamic pricing and international pricing.
Overall, Casio's strategy is squarely focused on bringing innovation to the consumer at a cost that is affordable to its customers, while focusing on what it considers to be the products of the. Pricing Strategy Of Casio Pricing strategies An enterprise should have a good pricing strategy which is suitable to the company’s current situation or condition in order to earn more profits.
By adopting a good pricing strategy, company has a key option to stay viable. Casio Pricing Strategy QUALITY LOW L O W P R I C E HIGH PENETRATION ECONOMY BABY-G SHEEN H I G H PROTRE SKIMMING K EDIFICE PREMIUM GSHOCK Pricing Strategy Mix OCEANU S.
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