Marketing Strategy and SWOT Analysis of Parker Pen
No matter how digitalized the world is getting, some things will never change. Some of us are old schooled and still write our notes down through a piece of paper and a pen. Some are writers and feel like their emotions are conveyed more accurately in their journals. And some simply enjoy being in control of their own handwriting. Pens are still relevant, and there are even people out there that have collections of luxurious pens. Today, our topic is Parker Pen. We are going to dive deeper into its marketing strategies to unravel the story behind its success.
To begin with, we are going to analyze the company’s mission and vision statements.
The mission statement of the company is as follows.
“We shall engineer the most innovative and unique pen the world has ever seen. Then, decades later, while the Chinese are still making an authentic version of the pen and selling it for $30, we’ll sell a copy of the cheap copies that people made back in the forties and sell it for hundreds of dollars…”
In the business world, different companies continually make copies of other products. People sometimes fall for their so-claimed legitimacy and end up making a purchase anyway. And some others simply make a purchase for the prestige. They just want people to anticipate them owning ‘expensive’ products.
Now, what do the companies that make the real versions of those quality products? Well, they simply put out there whatever they make. They do not stress themselves with the idea of competition from unoriginal brands. Their sales are not that affected because they have managed to gain a loyal consumer base over the years.
The demand for this company is so high that people are willing to spend extra money on a good product. The developing world is not even slightly taking away from Parker Pen’s shine.
And now, let us concentrate on the vision statement of Parker Pen.
Here it is.
“We will monopolize the shelf space in all high street stationery stores with 30 slightly different variants of the same pens”.
The product range of this company is not limited. There is a wide selection that people are able to choose from.
This company has not even dared to save up on investing in all sorts of stationery stores. The pens this company makes are easy to find and accessible. What more does a writing instrument company need?
The way we see it, this is an incredibly smart vision that a company must hold.
Furthermore, we are going to analyze one of Parker Pen’s Instagram posts to get insights about its positioning strategy.
Here is the post.
Judging by the hashtags, this post has mainly taken mental health into consideration. The photos of the post are of people sharing important messages.
The company’s Instagram page is encouraging people to share their notes in the comments. The lucky ones will be chosen to be featured in Parker Pen’s stories.
One of the messages is “Celebrate little wins” which is incredibly powerful. It is very likely of people to get caught up in the ultimate goal that they forget to highlight the small rewards along the way. Yet, it is those little prizes that keep people sane and aware of the final picture.
The second note is “Do what you’d do if you weren’t afraid”. This is again pretty effective. With the pressure of society, family, or the anxiety of failing, people choose to not strive for their goals. Thus, if you want to become a Hollywood film director, go for it. As Stan Lee once said “If you have an idea, that you genuinely think is good, don’t let some idiot talk you out of it” (Lee, 2017).
And the last message is “Be the best version of yourself”. With everyday stress and anxiety, it is easy to forget one’s values. This sort of acts like a wake-up call for people to stick to their true selves.
The first photo is encouraging people to write what they feel. There is odd energy that writing holds. It is an unexplainable tool that makes everything better.
So what does this post tell us?
The first and most obvious thing we can point out is the goal of connection. This post is not focused on the connection between the company and its consumers. But instead, it acts as a way of letting the followers connect with each other.
Secondly, pens are regularly used in everyday life. Whether at work, in school, or at home, there is always something in mind to write down.
And third, even though the pricing of these pens is higher than fast supermarket purchasing versions, in the grand scheme of things, it is still moderate.
With that being said, the archetype that Parker Pen belongs to is Everyman.
What do we know about it?
Desire: connection with others
Aim: connection with others
Strategy: develop ordinary solid virtues, the common touch, blend in
These are the messaging levels of the archetype.
Level One: loneliness, alienation.
Level Two: the orphan, feeling abandoned and alone, seeking affiliation.
Level Three: the joiner, learning to connect, fit in, accept help and friendship
Level Four: the humanitarian, believing in the natural dignity of every person regardless of his or her abilities or circumstances
The Everyman archetype provides a good identity for brands:
- whose use is relatable for people
- whose purpose applies to common everyday usage
- with pricing that is below average to average
- provided or marketed by a company with a down-home organizational culture
- that want to contrast themselves positively from a higher-priced or more elitist brand
Moving along, we are going to bring about the SWOT analysis of Parker Pen.
Strengths
Traditionally with a well-known high-quality brand: Before all else, the establisher of this brand started selling his products to John Holland Pens Company. In the long run, this has been proven to be pretty impressive so far.
Different pen tips (fountain, ballpoint): Different people prefer different pen tips. For specific pieces or styles of writing one tip is preferable to the other. This diverse range enables people to pick what fits them best.
Sophisticated packaging and display case: When buying a pen from this company you are not just purchasing a random item, you are bonding with it. The company has put so much effort into making the feel of its products pleasing.
Smooth writing: These pens do not take too much effort to work. Surprisingly, it is even therapeutic and relaxing to pick up one of those. Nobody likes it when the ink fails to come out. With a Parker Pen, you are not going to face that problem unless the ink has run out.
Innovative design: This company regularly makes new products to match the developing world. Even though a certain style of pens never gets old, still some people prefer to move with time.
Weaknesses
Expensive for certain demographics: Not everyone is willing to take the extra mile for a pen. People who do not formulate emotional connections with their pen would rather get a more affordable one.
The danger of losing brand appeal: It is much easier and faster these days to take notes on a computer or a smartphone. Even writers at some point are likely to move fully to the digital world. The function of this brand could sooner or later go out of use.
Opportunities
Expanding market: Yet, it is surprising that this market continues to grow. Parker Pens can invest more in increasing its sales and profits by being included in the emerging transactions.
Expanding the target base: This company could benefit from making less expensive products. That way it would target people of lower financial statuses, respectively growing its customer base.
Threats
Cheaper products: As already mentioned and well-understood, some people simply like a cheaper pen. Not everybody is as sentimental and serious about writing as this company anticipates.
Fewer promotions: Even though Parker Pens already has a famous name, the scare of it becoming irrelevant is still a possibility. It is important to keep up with the market and invest in modern advertising.
And lastly, we are going to watch a short video to find out which segment Parker Pen has chosen to target.
This video is following a typical day in London from lots of people’s perspectives. One is in a train station, one is in a cafe, the other is riding a bike, one is in a car, etc. Everybody is concentrated on a thought, whatever it is.
We see everybody swirling around a pen in their hands while focusing on getting their train of thought. Then pretty balanced with the music of the video, matching the drums, everybody comes up with their ideas.
And then we hear a bunch of pen clicks as people start writing down. The speed of their writing is almost as fast as their ideas.
“Capture your thoughts with a click” is what appears on the screen in the end. It is that simple, you just have to click a pen to free your head of your old thoughts and come up with new ones.
Now how do we arrive at the targeted segment?
Well, first and foremost, all of the people in the video are either getting an education, on their path to pursuing a career, or they are already there.
These people are confident and self-aware but it would not be a possibility without their background knowledge.
Lastly, all of the characters in the video want to succeed, whatever success means in their terms. Even if it means finding an exact thought, it is a goal of theirs.
What more do we need in order to understand that the segment that Parker Pen has chosen to target is Conscious Progressives.
Lifestyle and values:
Conscious Progressives are smart. They are informed on lots of aspects of life and continue to do so to stay up-to-date.
This segment likes to be practical thus does not spend money on unnecessary items.
These people are attractive. But there is so much more to attractiveness than physical appearance. What this segment cares about more is what they offer with their personality.
Conscious Progressives are socially active thus they communicate with lots of people every day. However, finding genuine and honest friendships is crucially valuable in their lives.
For this segment, a huge part of succeeding is obtaining knowledge. That is exactly why they make sure to go after education at all costs.
Pursuing a career is important. But it should not affect the quality of life badly. For example, this segment will not limit time with loved ones for the sake of getting a promotion.
Of course, salary is vital when it comes to working. But this segment wants the workplace to benefit from it. These people want to bring innovations and pieces of their intellectuality to their company.
This segment is environmentally friendly. They make sure that their purchases are not going to harm their surroundings. They buy recyclable and sustainable products.
Conscious Progressives’ friends are people they can learn from. Their conversations are not limited to everyday gossip. But their communication is highly informative, acting as an advantage for all parties involved. This strategy goes out to romantic relationships as well.
Family holds a dear place in this segment’s heart. They adore spending quality time with the household. Also, every decision they make, they want to be approved by their family.
Attitude to shopping:
This segment is not materialistic. But ads are important for them. If an advertisement succeeds in persuading these people of the product’s importance, good for them. This segment will make a purchase.
”Don’t judge a book by its cover” is exactly a saying for this segment. They deeply analyze every aspect of a product before a buy.
This segment prefers good-quality products. However, if those products are not functional then this segment is not likely to buy them. They are conscious after all.
Even though the style is important, so is comfort. Whenever shopping for clothes, Conscious Progressives make sure that whatever they buy is not only good-looking but something they would feel good in.
Other interesting facts:
Conscious Progressives
- are socially active
- enjoy reading
- are fond of sports
- love exploring foreign cultures
- do not want to be mainstream, yet are also not too far away from the mainstream.
- are above average radio and media consumers, mostly utilizing it for staying informed on the news
- use the internet on a daily basis for all modern reasons
And there you have it, ‘The Marketing Strategy and SWOT Analysis of Parker Pen’. This is a highly sophisticated but at the same time simple brand. The world is moving, but make sure to stop every once in a while and pick up a pen to free your head from all sorts of thoughts. Come back to our main website for more blogs.
