Business development essay help : Lenovo Marketing strategy
Lenovo
Introduction:
Lenovo is one of the largest manufacturers of electronic items like personal computer, mobile phones, tablet computers, workstation, servers and electronic storage. As per Nortan (2005) The Company also involves in the management of information technology software and smart television. The company also ranked as the second largest vendor in the personal computer by the market share in the year 2011. The company is formed as the result of acquisition by the group of Lenovo personal computing division. The Lenovo business strategy is differ from the product with their competitors. The company uses the technology with the innovative ideas and develops the product in the market. The product has been so familiar among the college industry in leading positions. The Lenovo Company was founded by eleven engineers in china and it is formerly known as the legend makes a variety of electronic products to the consumers. The company is a traded as well as partially owned by the government of Chinese. The Lenovo provides the suitable management tools to use and simplify the management of think server system. The value chain models for the company include like operation inbound logistics marketing and sales. Lenovo also supports the other business activities like technology procurement and the development of human resource management with the firm structure. The company deserves the technical management especially in the research of the product and development. Lenovo holds the largest customer in china. Europe has the opportunity of the global market share. The objective of the company is developing the overall experience of pc ownership which driving to the total cost.
Marketing strategy:
As per Cohen (2005) the marketing strategy is more important for an organization to focus on the limited sources for the greatest opportunities to increase the sales and achieve the goals set by the organization. It includes the short term and long term activities which is carried in the marketing field and also analysis the strategic situation of the company and formulating the strategies of marketing oriented objectives of the company. The marketing strategy is the basic plan and designs to fill the needs of the market. The goals and objectives are normally measured for the result expectation, the strategy also involves in tracing the internal and external environment like the factors include both performance analysis and marketing mix. In the external environment the factors include such as target market and customer analysis. The main component of the marketing strategy is to focus on the line of business activity with the mission statement.
Segmentation:
The segmentation is the actual process of splitting the market into several segments based on the characteristic of the customer. The important activity of the segmentations is
- Tracking the competitors in the market
- Tracking the potential customer for the business
- Attracting the customers with market segmentations
As per Rakish (2005) the business strategy of Lenovo has the massive changes over the past years. The Lenovo has become the second world largest personal computer vendor in the year. The company took the innovation segmentation and that helps to establish to endure new trend of the accomplishment. The new market segmentation includes the city customers especially the rural customers with the great brand awareness. The Lenovo also focused on the customers with new concepts and high level educations. There are four market segmentation have been used in the market for the computer industry to push the product to the people.
- The geographic segmentations
- Demographic segmentation
- Psychographic segmentations
- Benefits segmentations
The company can push their product in geographic segmentations with various groups in the locations. Since the laptop has been used all over the world for simple in structure. It could also focus on the different countries and continents. The approach is wide open for the product in all the countries. In the demographic segmentation the company can approach such as age income education level and occupation. It is more chance to sell the product by analyzing the techniques. College students they use the laptop for the education purpose and referring online articles and books. The business class people can focus on the market situation and checking mail. They can also store the valuable information in the storage devices. In the psychographic segmentation it emphasize on the lifestyle and interest. Some children have more interest in playing the videos games in the laptop and some people prefer to watch the movies on the laptop. The benefit segmentation is related with the design and delivers the product to the consumer by offering the relevant service to the consumers. In these segments the focusing upon the consumer buys the product and they want to require in terms of service. The consumer buying process should also be considered in the market segmentations. The understanding of the customer needs helps to design the clears strategy to explore a good business.
Targeting the market:
The Lenovo has wide variety of scope in the international market and they deserve the quality and fame to stay alive among the competitors. In the computer market the Lenovo product has a wide advantage that helps to attract and target the customers. As per Norton (2004) focusing on the city side customers helps to bounce well in pushing the products. Targeting on the students in the city side for the education purpose will help to create the awareness. In the developed market the customers have strong brand awareness with the product. Target can be made on the business people where they can have the usage of laptop for full day. They can also use the product as the storage device for the valuable information’s. As per Krohmer (2009) the company can also push their product in the information technology industry where it can be used with low consumption of the energy. By choosing the low power consumption in the laptop and edge technology will enhance the brand image. The product can be pushed to the commercial usage and home. Where the children’s can make use of the product to play the games and some people will prefer to watch the movies and listening to the songs.
Swot analysis:
The Swot analysis is the effective tool for the industry or company to access and develop the strategy to remain competitive in the market. As per Westbrook (1997) it is the simple method to focus on the aspect of the company and business sector to organize and evaluate current status of the business future aspects and economic climate. It helps in the promotion of specific thinking to enhance the objective and strategy of the plans.
Strength:
The strength of the Lenovo is in goods and the quality. The service is an added advantage for the company to promote the brand awareness among the competitors. The traditional reputation and the brand recognition are very good in structure. The market is wide open for the expandable strategy of marketing and the product is diversified. Maintain a fair relationship with the shareholders and consumers and owns convenient and peculiar image in the market.
Weakness:
The channel of marketing is in single stage it lags in the product and service is mainly sold in the monopolized stores. Which affects the growth of the business? The line of product is in large numbers in the expansion of overseas. The style of the product is to fewer to choose. The level of marketing is small stage and they are not in rich sourcing and advertising the product internationally. The price factor is high comparing to the other brand.
Opportunities:
The company deserves the great potential to bounce back to the peak position in the market and to become the largest computer seller. Specialty in the business takes the larger market in the computer industry. The company produces huge products under one name and attract with the different features. It has good market in the European countries for their brand and fame. It also has the tendency to come up with the more products with innovative ideas.
Threat:
Since the product of Lenovo is high and the other companies products are also available in cheaper price. It threatens the strategy of the company policy. The protection of market in some countries is very strong. The competition has risen from the other shoppers embedding in the form factors that pleasing to the consumers. The fluctuations in the currency also affect the growth of the company.
Value proposition:
The value proposition is the value of promise that is given to the customers and great belief of the customer to experience the value. The value proposition can be applicable to all the organization for the customer accounts and the service which they offer for the products. As per Dave (2010) the ultimate goal of the company is deliver the world best engineering personal computers and the big part of comes that offering excellent customer service and support. They are also providing the amply supply of parts to the efficient and effective support for the computer and mobiles. The Lenovo also continued its leadership in the design of the product of its notebook made the consistent strength for the several years in the market. It also satisfied the customer like reliability product design and supported service made the brand to the peak position among the competitors. As per Slater (1997) The Lenovo proposition value tied to the reputation for the design of innovations and also focuses on durable constructions. The company also proposed in the price offset while the customers realizing the value proposition of the recovery value and buy back are the two efficient ways to recover the value without going for the new purchase of the hardware. Several and new different books highlights the strong emphasis on the innovation design of the product in the industry. The unique hardware and software technologies helping the customer foe accessing the network connection for the rescue and recovery of data. The combination of all the techniques and innovation ideas made the company into successive path and also helps in reducing the total cost of the personal computer ownership and expanding the investment.
IMC strategy:
According to Mure (1 January 2005) it is a brand way of communication with the different modes of work joins to gather to build a strong message of brand core. It is more significant in the practice of marketing because of the reduced cost effectiveness in the mass media fragmentations. The customer can spend more time in the online and their device to the exposure of the brand needs. The internet changed the business ways done in the current world. The variable segmentation of Lenovo is targeting and positioning addressed in different ways. The product of Lenovo and its service are marketed in change with the aim of business in bringing the economic and social values in the constant position. The marketing the product has become essential between the customers and marketers. The promotional activities can also be included in the marking the Lenovo product by using different media like advertising sales promotion and personal selling activities. Other type of marketing includes such as internet marketing, sponsorship marketing with the public relations. As per Parasuraman (1997) the integration of all the tools helps the company to achieve the trade mark success in the computer industry. The revenue generation for the Lenovo develops the new market segmentation and the total market attractiveness and choice for the integrated communication and marketing plan. Proper promotions are needed for the effective integrated marketing communication in the opportunity analysis. It helps to target the audience for the company product and services. The communication strategies need to research the various options for exploring the product features to the people.
Conclusion:
The Lenovo is the long term development in correcting and guiding technology. As per Ranii (2 February 2011) the company is well known as the one of the world largest makers of personal computers. The company develops the market reliable and high quality secure for the consumers to easy access of the technology introduced by the company. The mission of the company to provide the business for the consumers in a very smart ways to be productive and more competitive with the price and technology. The company is dedicated to the serving needs of the customer’s partners and shareholders. The operation technique and powerful strategy led the company into the sustainable position in the computer industry.
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