Gibson and Fender Marketing Mix

Gibson and wing tradeing MixIntroduction1.1. BackgroundA guitar is an indispensable harmonyal actor for diarrhoeaing a variety of music, such as jazz and vote out music. Because of Chinese economy grows and an increasing number of con unioners interest in music develops, China is seemly an essential market for guitar companies. Most guitar users own at least one guitar which can provide them their favorite whole steps. For the demand for divergent types of guitar making dissimilar paces, in that location ar many producers that have been manufacturing guitars for a number of years such as Ibanez and ESP. However, the two quality hazardrs, Gibson and backstage, verbalise by Gearpipe (2007), have the best sales volume at a uplifted price. Gibson Guitar Corp (2010 a) mentions that Gibson is an American establishment which began in 1904 whose main yield is electric car guitar. An separate leading guitar company is Fender. According to Fender musical Instruments Corpor ation (2010 a), Fender began in 1946 in The USA which is not lone(prenominal) adept at making electric guitars, only if electric basses and other products as well.1.2. Theory1.2.1. Market sectionalisationAll about economical on the web (2010) shows that as peoples different needfully and wants, market class is becoming increasing stable for business. The definition of market segmentation is dividing a market into a number of sub-markets based on some sort out of particular features.1.2.2. Marketing MixAccording to Hall et al (2008), marketing mix is the elements of a market which atomic number 18 knowing to satisfy consumers needs and wants. There ar basically quaternary Ps of marketing mix. The four Ps are product, price, promotion and place.1.3. AimsThere are three aims of this report. The sign one is to analyze the market segmentation of Gibson and Fender for Chinese consumers and study the marketing mix from different angles in the reinings part. Moreover, evaluat ing and comparing these two firms from some(prenominal) positive and negative ways is another(prenominal) target in the discussion. Finally, recommendations in the conclusion show suggestions of development for Gibson and Fender companies in China.Findings2.1. Market SegmentationThe market segmentation of Gibson should be guitar players who are affluent and interested in old fashion music. Gibson Guitar Corp (2010 b) demonstrates that Gibson guitars are much more inflatable than its competitors. In addition, Gibson electric guitars are almost all be designed in the same style which can often attract buyers who are the big fans of old fashion style.Fender mainly aims at attracting electric guitar and bass players who are soaked and crazy about nowadays music. Fender musical theater Instruments Corporation (2010 b) shows that its products are existly which are designed in an extremely popular style with modern tone.2.2. Marketing Mix2.2.1. harvest-homeGibson is a world-wide guita r company. According to Gibson Guitar Corps (2010 c) demonstration, the major(ip) product of this company, undeniably, is the electric guitar. The Gibson Les capital of Minnesota and the Gibson SG are the most salable and classical types of product that are forever and a day in the same anatomy with limited colors. Gibson targets guitar players who play straining metal. Therefore, the tone of Gibson electric guitars sounds juicyly heavy and quite suitable for performing heavy metal. Guitarz (2008) introduces that the famous lead guitar player Angus Young who was playing in a heavy metal band, ACDC, is using a guitar made by Gibson.Fender is also a well-running guitar establishment. Fender musical comedy Instruments Corporation (2010 c) explains that condescension the electric guitar, Fender is also well-known for other products such as modern styles electric basses and amplifiers. Fender has been trying to make its products can be used to play jazz, blues and pop- gemstone. Th us it is found that Fender guitars tone is awfully soft and clean. An example of musician who is using Fender to play pop music is Eric Johnson (Eric Johnson, N.D.).2.2.2. PriceBy analyzing data from Smarter (2010), Price of Gibson deal is often higher than other guitar producers. The same as Gibson, Fender products cost consumers considerably. Undoubtedly, with such a high price, the quality of products from these two businesses is usually reveal than other companies for their unique technique.However, Gibson and Fender not save make high quality guitars to the rich. Both of them own auxiliary companies (Squier and Epiphone) for making lower-quality guitars for green pass playing guitar and who find that it is difficult to afford the guitars which are completely pricey(Fender Musical Instruments Corporation, 2010 d Gibson Guitar Corp, 2010 d).2.2.3. PromotionGibson Company has only one effective major promotion that is product endorsement by asking famous rock stars to use it s guitars. One example is, Gibson Guitar Corp (2010 e) states that Slash Les Paul which is shown in the picture is designed for a famous rock guitar player, Slash. This is such an impactful beak to promote Slashs fans to buy this guitar.(Gibson Guitar Corp, 2010 f)Similarly, Fender promotes in the same way. For instance, in the picture, in that respect is Roger Waters Precision Bass which is a late-model electric bass of Fender that is named for a celebrated bass player, Roger Waters and recommending his fans to spend money on this bass (Fender Musical Instruments Corporation, 2010 e). What is more, Fender Centre (N.D.) reported that Fender frequently do public relations for promotion such as donates to sorry children which is such a nice way to obtain public approval.(Fender Musical Instruments Corporation, 2010 f)2.2.4. PlaceSelling place for Gibson and Fender are not flat slightly different. There are mainly to locations types are involved. Firstly, is provision of products t o retailers so that consumers can buy them which are displayed in musical stores. However, in China, there are few musical stores selling their products. As a result, another approach is to sell their merchandise online which is a convenient shortcut for customers who proceed in places where musical shop do not exist. Their online shops are purchasable on their respective web-site.DiscussionComparing the market segmentation, Gibson pays mass financial aid on making guitars providing to metal and hard-rock players who fancy old style. The obviously march is that Gibson can manufacture professional electric guitars to win more market share. However, Changing of fashion or other fixingss may cause a sharp decline of demand. By contrast, Fender is radically different. It has been making respective(a) musical equipments for an amount of fanciers of jazz, blues and pop-rock who are following the up to catch fashion. The vantage is the problems caused by diversification of consumers taste and popularity will never be faced. A serious drawback is making the market over-broad. Further, the marketing mix is akin between these two companies instead of their products considering their distinctive brand culture cause characteristic products. Additionally, Fender might achieve more public value for its exertion to public relations.Conclusion4.1. RecommendationsAlthough Gibson and Fender have obtained a high market share and public praise, it is still necessary to have gain rectifyment. By do surveys to obtain information from 60 guitar players, there are three suggestions for each company depending on the surveys result which is shown below.4.1.1. Recommendations for GibsonThere are three recommendations for Gibson. First of all, it is applicable to manufacture guitars into dissimilar shapes and colors. The changeless shape and boring colors cannot satisfy today consumers. Additionally, it is practicable to make an effort to produce other musical instruments. W hats important should be done is to make more lower-level product for most Chinese are not wealthy enough hoping to buy their first guitars of good quality. Although there is Epiphone as the subsidiary company producing elementary product for novices, customers still hope to buy Gibson quite a than Epiphone.(Reasons for refuse to buy Gibson products)4.1.2. Recommendations for FenderThere are three suggestions are provided to Fender. One method is to make products which can be not only high quality, but also unusual and special catching buyers eyeball to gain more market share from competitors. What is more, Fender should focus on Chinese market by selling its merchandise to more retailers so that consumers can buy Fender products easily. Marking lower-level products as cash overawe with affordable price to segment consumers who are interested in guitar but have not enough money is an acceptable strategy to improve sales volumes as well.(Reasons for refuse to buy Fender products) 4.2. SummaryTo sum up, both Gibson and Fender are immensely successful. The most essential factor for Gibson to achieve the success is to concentrates on electric guitar and making Les Paul and SG becoming world-wide triumphant. For Fender, the most momentous reason should be a broad enough market for with generally higher quality and public relation than its competitors. former(a) factors causing success, such as product endorsement, are notable too. It is intemperately believed that as Chinese market becomes increasingly important, Gibson and Fender may find more methods to take on this market.