Hitachi Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Hitachi through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Hitachi Product Strategy:
Hitachi deals with a large range of products i.e from IT solutions to financial services. The marketing mix product strategy of Hitachi covers its consumer electronics, enterprise solutions, engines, motors etc. Hitachi started with building electric motor and has come a very long way. It had build aircrafts named Hitachi T.2 and Hitachi TR.2. They have also built aircraft engines. They have also spent money on building components and device such as batteries, hard disks and LCDs. They had also ventured into building defence systems such as military vehicles, satellite imagery processing systems, vetronics and many more. They have also invested in digital media and consumer products such as room air conditioners, refrigerators, washing machines, LCD projectors and many more. They came up with information and telecommunication systems such as ATMs, software and telecommunication equipment. Thus Hitachi has invested in almost every sector and has come up with large number of variants in each category. Thus people can make a better choice from the available set of product line.
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This concludes the product strategy in Hitachi marketing mix & strategy.
Hitachi Price/Pricing Strategy:
Below is the pricing strategy in Hitachi marketing mix strategy:
Hitachi always followed different pricing strategies for different sectors that its works. The pricing strategy in the marketing mix of Hitachi depends upon the demand, type of product, solutions required by companies, competitor prices etc.
While the company follows competitive pricing strategy in defence system, aircraft engines and construction machinery. They have always maintained a balance in prices keeping in mind the competitors. These are the segments where quality is given the top most priority not the pricing. Hitachi Ltd has always focused on quality. It is because of their continuous striving for quality, they have experienced lesser setbacks.
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Hitachi Place & Distribution Strategy:
Following is the distribution strategy in the Hitachi marketing mix:
Hitachi Ltd is located in Tokyo, Japan. It has a global outreach and you could find its presence across the globe. It has operations in more than 50 nations ranging from South America, North America, Middle East and Asia. Hitachi has always followed a simple model of business where they focused on quality and made products available at affordable prices. Different parts of the world enjoy different products and services of Hitachi Ltd. In most of the Asian countries like India, Bangladesh and Japan, people enjoy telecomm services offered by the company. In the Middle East, its defence products are quite popular. Thus, its different business units give flexibility to the company to sell varied products across the world.
The marketing mix distribution strategy of Hitachi is seen from the widely available consumer electronic goods through various retailers, supermarkets, ecommerce portals etc.
Hitachi Promotion & Advertising Strategy:
The promotional and advertising strategy in the Hitachi marketing mix is as follows:
Hitachi has always relied upon its innovation, customer experience and product quality. These are the things that differentiate it from its competitors. They have come up with unique advertisements in past, but never signed any big celebrity or know face to sell its products. With the help of intelligence, they have completely captured the customer base. Hitachi have always focused on meeting different customer needs by providing optimal products and enhancing the business solutions. Apart from these, they have spent a huge sum of money towards corporate social responsibility. You could see some good works done by the company in sub continent regions. As their logo says “Inspiring the Next”, they will come up with new technology and services that can help people to solve their problems easily. Hence, all this helps in understanding the marketing mix of Hitachi.
About Hitachi:
Hitachi Ltd which is headquartered in Tokyo, Japan is multinational conglomerate. Hitachi group is the parent company and also interconnected with DKB group of companies. It is highly diversified and operates in eleven business segments such as information and telecommunication systems, digital media, consumer products, power systems, financial systems and many more. It was founded by “Namihei Odaira” in 1910 who was an electrical engineer. The first product that was developed by the company was electric induction motor of 5 horse power. Very soon it became market leader in the domestic segment.
In 2012, Hitachi ranked 38th in Fortune global 500 and 129th in Fortune Global 2000. In 2014, it was found that Hard disks made by Hitachi were the most authenticated in the world.
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