Executive Summary
Market research is an important tenet of daily business operations because it integrates the needs of consumers, the public, and customers through information transfer. Therefore, the concept helps to identify problems in the market that could be fixed through value transfer. Pertinent to this analysis is the concept of branding, which refers to the attributes or dimensions that a product or service may have that differentiate it from its competitors.
Concisely, branding is a key feature of marketing that refers to the use of promotional activity, through design and advertising, to enhance the profile of a good or service in the market. Therefore, brands refer to product markers that help customers to distinguish their performance from others in the market. This report is a brand audit of Casio and Roland, which are between the two leading companies engaged in the production and sale of musical instruments.
The scope of the report will cover their branding strategies, branding elements, and brand packaging decisions for their primary products and brand extensions. This investigation aims to understand how different aspects of brand performance affect the positions of Casio and Roland in the market. Relative to this assertion, this comprehensive brand audit aims to fulfill several functions, including identifying brand performance, classifying existing strengths and weaknesses, aligning corporate strategies with customer expectations, and recognizing the corporate position of the above-mentioned two musical instrument producers, vis-à-vis the current competitive activities and industry performance.
The findings of this report show that both brands are heavily invested in technology adoption, but are different in terms of the target market desired. Notably, Casio appeals to a wider market because it has different products for varied market segments. However, Roland’s products are designed to appeal to a high-end market.
Casio
According to Gürhan-Canli, Sarial-Abi, and Hayran (2018), a brand audit seeks to compare the brand performance of a company relative to its goals. Subject to this view, AMA (2019) adds that it is difficult to develop a brand that has a strong emotional appeal because of the presence of multiple psychosocial factors that influence performance. Casio uses a multi-product branding strategy because it makes different kinds of products using the Casio brand name.
For example, its watches, calculators, and musical instruments are different products that use the Casio brand name (Casio Worldwide, 2019). This is why the company is known for producing multiple products that appeal to different market segments. Albeit the multi-product branding strategy has contributed to Casio’s market expansion, it is also a source of weakness to the company’s overall brand image because some of its products have a stronger market appeal than others. For example, Casio is popularly known as a watch brand. Therefore, it may be difficult to market the same company as a musical instrument firm. An in-depth analysis of the company’s key branding elements is provided below.
Brand Personality
According to the course materials on brand personality, the concept refers to the association of a brand’s attributes to human physiognomies. For example, some common brand features include sophistication and romanticism. Consumers often associate these brand attributes with their personality traits because a brand’s personality is an extension of their self-image. Therefore, they are likely to reject products that do not align with their self-image. Casio’s main strength lies in its integration of new technology in the production or manufacture of its musical instruments, which allow it to produce excellent sounds that some of its competitors cannot match (Fielding, 2017).
For example, its acoustic intelligent resonator was an innovative product that allowed users to create melodic sounds that its competitors’ could not produce. The innovation was focused on the production of string sounds that would be found in a typical acoustic piano. It also helped users to determine the right tone to strike a key when using one of Casio’s pianos (Fielding, 2017).
Brand Image
According to the course materials on brand image, a product’s image refers to how people perceive it in their minds. Stated differently, a brand image refers to what people perceive a brand to be, based on their thoughts, feelings, and expectations. It is important to review the concept of brand image in highly competitive markets. It is the most openly differentiating factor between products and services because the rest of the brand attributes are often equally matched (Gürhan-Canli et al., 2018). Some of Casio’s Pianos have been criticized for having inferior sound quality and key actions compared to the competition (Catchy, 2019). Therefore, in terms of product quality, its brand image is inferior to its competitors.
Brand Identity
Casio’s use of innovative techniques when making musical instruments has caused its strong appeal in the market (Bhasin, 2019). This brand strategy has allowed users to create unique acoustic sounds by leveraging such technology for improved user experience. Casio’s adoption of innovation has also led to the development of multiple features on its keyboards, which have improved functionality. Therefore, for the same amount of money a customer would pay for a competitor’s keyboard, they would enjoy more features by buying a Casio musical instrument (Bhasin, 2019).
Brand Differentiation
According to the course materials, brand differentiation refers to the process of building a successful product image by setting itself apart from its competitors. The process happens by identifying a superior aspect of a brand’s performance with several key consumer benefits. At a more superficial level, brand differentiation is linked to a company’s corporate image. Casio’s brand differentiation strategy is linked to reliability because its products have been tested in the market for a long time and found to be sound.
Brand Positioning
Casio has positioned itself in the market as a brand that caters to the needs of different groups of customers. Therefore, its products are found in many market categories and segments (Casio Worldwide, 2019).
Brand Communication
Brand communication is an important aspect of corporate performance. The class course materials suggest that it refers to the conveyance of a company’s product or service value to customers. Although some critics do not consider this aspect of brand analysis as a primary tenet of sales, under product quality, researchers say that big companies must develop a strong brand communication plan to convey value to customers; otherwise, people may not be aware of it (Müller, 2018). Some of Casio’s products have a strong aesthetic appeal that improves a user’s experience (Casio Worldwide, 2019).
For example, its Grand Hybrid Pianos use wooden keys and real hammers that provide users with an authentic experience when playing music. Therefore, authenticity is the main communication mantra adopted by the brand.
Brand Loyalty
One of Casio’s major sources of brand loyalty is its strong brand image (Bhasin, 2019). Its wide range of products, which not only includes keyboards but also superior watches, calculators and printers, enhances it. Another factor contributing to Casio’s brand image is its long history in the market. Indeed, few competitors can boast of having the same market experience as Casio does in selling keyboards. Customers recognize this fact and attribute more value to the company’s products.
Brand Equity
The biggest strength associated with Casio’s products is its great value for money because the company offers a wide range of affordable products, such as its entry-level portable stage pianos, which are popular in the lower and middle-income market segments (Market Watch, 2019). For example, the Casio CDP130 is priced under £300 (Fielding, 2017). Its financial performance is also better than the industry’s average because it has significantly created more revenue than its competitors (Market Watch, 2019). Therefore, it has strong brand equity.
According to the course materials on brand packaging decisions, companies can either adopt primary, secondary or tertiary packaging strategies. Casio is a brand extension of the parent company that has the power to influence such decisions by controlling retailer behavior. In other words, it designates the kind of design and packaging that needs to be adopted by retailers. However, according to Market Watch (2019) and Fielding (2017), this type of control has undermined free-market competition in some mature markets, such as the UK. Consequently, the company needs to rethink its tertiary designs to enhance market appeal. For example, the tertiary packaging design could be used to form part of the retailer’s in-door display, thereby adding value to the product’s appeal.
Roland
According to the course materials, four major types of branding strategies are commonly used in marketing: a multi-product branding strategy, a multi-branding strategy, a private branding strategy, and a mixed branding strategy. Unlike Casio’s multiproduct branding strategy, Roland uses a mixed framework, which focuses on marketing products in different segments of the industry using the company’s brand or private label (Roland Corporation, 2019).
Brand Personality
Roland’s brand personality is high-end. It also has a range of musical instruments that stretches from beginner to advanced levels. For example, beginner stage pianos such as the FP-30 are designed for the lower end of the market, while grand digital pianos, such as the GP-607 appeal to the largest market segments (Fielding, 2017).
Brand Image
Unlike Casio that has multiple product business strategies that cut across different market segments, Roland is mostly known as an electronics musical instrument business. The company’s brand image is premium because it is rarely associated with the production of entry-level pianos (Brooklyn, 2019).
Brand Identity
Roland is known for changing the electronic musical instruments market through groundbreaking innovation (Roland Corporation, 2019). Therefore, Roland prides itself on being one of the major supporters of the music industry.
Brand Differentiation
Unlike its competitors, Roland is not known to be fixated on making acoustic pianos only (Fielding, 2017). Stated differently, it is not confined to sampling one brand. For example, the Progressive Hammer Action (PHA) brand generates an acoustic piano feel that could not be easily replicated by the competition (Fielding, 2017). The use of traditional materials like wood and modern iterations of the same are known to provide a traditional feel of the musical instruments as well as improved functionality such as durability. These properties distinguish it from competitors.
Brand Positioning
Müller (2018) claims that brand positioning does not necessarily increase value and instead focuses on the manipulation of a consumer’s mindset. Roland’s brand position is “the next level” because it is mostly associated with improving quality through innovation (Fielding, 2017).
Brand Communication
Roland’s brand communication is based on social media marketing. This strategy has helped it communicate to its customers its superior brand attributes such as the soft sound created by its instruments (Fielding, 2017). In other words, unlike the Casio, Roland is known to produce mellow sounds. The instruments are also known to have a unique sound engine that makes the sound produced by Roland’s keyboards sound acoustic (Fielding, 2017). The result is the production of unique tones for each note. Its note velocities are also known to be smooth, thereby giving a more dynamic response to the sounds produced. In other words, the sound decays produced by Roland instruments appear to be more natural than other musical tools produced in the industry (Fielding, 2017).
Brand Loyalty
According to the class course materials, brand loyalty refers to a customer’s bias to purchase a specific product or service at the expense of others. Akin to this concept is the willingness of consumers to switch brands, depending on their perceptions of customer service. Roland has a strong brand loyalty because of its long history in the market for making innovative musical instruments
Brand Equity
According to the class course materials, brand equity refers to the total sum of a company’s value based on its consumers’ perceptions. This worth is determined by an assessment of the consequences of buying linked products or services. Roland has invested in developing useful partnerships and relationships with third parties to improve its brand profile. The company also has a high return on assets of 7.86, which is among the highest in the industry (Wall Street Journal, 2019).
This figure means that the company’s investors are enjoying increased profitability. Lastly, Roland’s packaging decisions reflect a high-end design because most of the company’s instruments are designed to appeal to premium customers (Atlanta Institute of Music & Media, 2018). This packaging decision has seen the company adopt a cabinet-style packaging design for its products (Brooklyn, 2019). Stated differently, the company’s products are slimmer and more minimalist than conventional products.
Broadly, Casio and Roland are among the top players in the production of musical instruments around the world (Johnson, 2019). Casio has a bigger market share because of its wide market outreach, long history in the market, and multiple product offerings (Bhasin, 2019). Comparatively, Roland is mostly attuned to meet the needs of a high-end market (Atlanta Institute of Music & Media, 2018). Both Casio and Roland generate a positive brand image of musical instruments in the market.
Although Casio spends many resources to maintain such an image, it is still known for making watches (Atlanta Institute of Music & Media, 2018). Comparatively, Roland has a similarly positive brand image because its products are known for being similar to pianos (Atlanta Institute of Music & Media, 2018). A broader comparison of the performance of the two brands is highlighted in Appendix 1.
References
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Atlanta Institute of Music & Media. (2018). The top 5 electronic keyboard brands to help launch your music career. Web.
Bhasin, H. (2019). Marketing strategy of Casio – Casio marketing strategy. Web.
Brooklyn, E. (2019). Roland RP102 review. Web.
Casio Worldwide. (2019). Activities to improve customer satisfaction. Web.
Catchy, S. (2019). Yamaha vs Casio digital pianos & keyboards -which brand? Web.
Fielding, I. (2017). Digital piano comparison: Yamaha Vs Roland Vs Kawai Vs Casio: Which brand is best? Web.
Gürhan-Canli, Z., Sarial-Abi, G., & Hayran, C. (2018). Consumers and brands across the globe: Research synthesis and new directions. Journal of International Marketing, 26(1), 96-117.
Johnson, B. (2019). Digital keyboard market expanding massively with focusing on leading players Casio, Kurzweil Music Systems and Korg. Web.
Market Watch. (2019). Casio Computer Company Limited. Web.
Müller, M. (2018). ‘Brandspeak’: Metaphors and the rhetorical construction of internal branding. Organization, 25(1), 42-68.
Roland Corporation. (2019). Brands and business domain. Web.
Wall Street Journal. (2019). Roland DG Corp. Web.