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Marketing Philosophy And Strategy Of Bandai

4330 words - 18 pages

Assessment 1
1. Critically comment on the combination of orientations in the organization’s marketing philosophy.
2. Discuss how the theory behind strategic marketing planning models can be used in the formulation of the organization’s marketing strategy.
3. Identify and critically evaluate possible opportunities for growth within the organization’s macro environment.

Programme Name
Master of Science in Marketing with Festival and Event Management

Module and Module Number
MKT11908 - Principle & Practice of Marketing

Name and Matriculation Number
Choi Pang Fung Oscar (40190237)

Submission date
14 July 2015

(3,048 words)

Content

i. ...view middle of the document...

9 billion for the year ending March 2014.

Character merchandising (CMD) has become Bandai’s core competency since their first product based on the television character Astroboy in 1963. Bandai is best known for products derived from popular movie, animation and comic characters such as the Power Rangers and Gundam. These range from action figurines, robots, clothing and candy. Bandai has also had success with faddish toys based on original characters such as the "digital pets" Tamagotchi which became a smash hit in 1997.

After the merger with game developer and amusement facility operator Namco in 2005, Bandai Co., Ltd. is now under the management of Bandai Namco Holdings which consists of three Strategic Business Units (SBU): Toys and Hobby, Network Entertainment, and Visual and Music Production. Bandai Co., Ltd. heads the Toys and Hobby SBU.

Bandai's corporate slogan is “Dreams and Creation”. Their mission is to create products that satisfy the souls of people in every age.
iii. Combination of Orientation in Bandai’s Marketing Philosophies

Bandai can be identified as a marketing and product oriented company from their focus on developing high quality products of popular characters from comics and television in demands. They also continue improving their existing products as per customers’ needs and wants to fulfill their satisfaction.

Bandai’s Marketing Orientation approach starts with identifying customer’s needs and wants through accessing the trends and identifying popular licensed characters, measured by popularity of the original comic or television, then indicate the marketing opportunity of the potential product range. According to Philip Kotler (1997), “…the marketing concept (Marketing Orientation) holds that the key to achieving organizational goals consists of being more effective than competitors in integrating marketing activities toward determining and satisfying the needs and wants of target markets.”

For marketing strategies, Bandai focuses on engaging customers and collecting their feedback. Bandai hosts regular large-scale product expos in different regions, especially in the Asian markets, to meet potential whole-sellers, distributors, customers and media face-to-face and to receive feedback on new and coming soon products. The online channel is also one of their most important platforms to engage with customers and gather reviews and feedback, which would be taken consideration for future product modification and development. Bandai has built a better reputation in the Japan and Asian markets while their biggest competitors Mattel and Hasbro focus more on the English speaking regions, which provides Bandai with more competitive advantages in Japan and Asia.

Despite their customer-focused approach, Bandai’s objective and strength on manufacturing high quality products with advanced technology can be classified as Product Orientation as well. According to Philip Kotler (1997), Product Oriented companies...

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