Casio India, a subsidiary of the $ 5.6-billion consumer electronics major Casio of Japan, will be re-aligning its marketing strategy for the next fiscal, with increased focus on its watches and digital camera products.
A major slice of its turnover from the Indian market now comes from its electronic keyboards and calculator categories. “At present our watches have a meagre two per cent of the Indian market share, while digital camera products have less than one per cent. In the musical instrument and calculator categories, we have about 70 per cent and 80 per cent market shares respectively,” Mr Kulbhushan Seth, Head (Sales & Marketing) of Casio India, told mediapersons here on Thursday.
The new marketing strategy will seek to increase the contributions of watches and digital camera to its overall revenue, while trying to create new markets for the other two product categories, he said.
Mr Seth was in the city in connection with the launch of its new series of products in the electronic keyboard category in Hyderabad.
May hike marketing spend
“Our marketing spend is generally in the region of 8-10 per cent of our revenue. We may increase it a little next fiscal,” he said. The company did not have plans to launch new product categories in India from its parent company next fiscal.
The company hopes to increase its market share in the keyboard category with the launch of the new series — the electronic musical instrument market in India is currently pegged at 400,000 pieces annually. “The market is growing, as the younger generation is increasing taking to music as a hobby and graduating into a serious hobby,” he said.
The new keyboards have features such as song sequencer, offering 17 tracks, audio recording that enable sounds from an external microphone to be recorded for playback and tone editor. The products are equipped with 800 diverse tones, with 20 types of Indian instrument tones specially built in for the Indian market.