The Marketing Mix of Lenovo tells the 4ps (Product, Price, Place, and Promotion) of the Chinese multinational technology company – Lenovo!
Lenovo is one of the world’s most popular computer and peripheral manufacturing companies, which has grown dramatically in recent years and continues to do so. Lenovo was founded in Beijing, China, in 1984 under the name Legend, and was incorporated in 1988 under the name Lenovo.
Since then, it has enjoyed a significant share of the market and has grown to become one of the most prominent companies in the computer and peripheral sectors.
This giant currently occupies a dominant position in the market and has established itself as a trusted brand, to the point where it has agreed to take over IBM’s PC manufacturing facility, as well as Motorola Mobility, Google’s mobile phone manufacturing facility, which will benefit its line of smartphones.
Now, there has been a certain brand that has been immensely popular in the machine-based business, and that name is Lenovo, a Chinese IT giant.
Because of its highly strong approach and outstanding equipment and peripherals for clients, this brand’s renown has grown in a compound fashion every year, and it has thus taken a larger piece of the pie.
Let’s start with the Marketing Mix of Lenovo to learn more about its product, price, promotion, and distribution approaches.
Product in The Marketing Mix of Lenovo
The computer and IT-based industry is extremely volatile and plagued with obstacles, and to stay ahead of the curve and maintain market share, a player must provide a diverse range of technologically advanced products.
Lenovo is a brand that has broadened its appeal and does not rely on a single category of products or services to grow. Lenovo’s strategy has been to provide the business sector with a wide variety of technology-driven products to meet their various needs.
This development has been focused on comprehensive research and examination of approaching client wants and identifying a need even before it occurs, resulting in an unsatisfactory level of reliance and dependency among clients and consumers.
It has provided machines and continuously improved them at regular intervals, as well as ventured into working frameworks and made modifications to them regularly, keeping up with the business industry.
Lenovo’s expertise covers a wide range of devices, including laptops, tablets, smartphones, desktops, servers, and accessories. Lenovo’s accessories are among the most popular and in-demand on the market.
Lenovo’s devices are well-known for their dependability.
Price in The Marketing Mix of Lenovo
When compared to other leading manufacturers, Lenovo is reasonably priced. In reality, it employs penetrative pricing in several sectors, such as accessories.
Lenovo’s main goal is to strike a balance between affordability and brand value. Lenovo risks losing its brand image and positioning in the minds of customers if it is priced too low.
Lenovo will lose clients to competitors such as Dell and Hewlett-Packard if its prices are too high.
Place in The Marketing Mix of Lenovo
Lenovo employs over 60,000 people globally and sells its products in over 160 countries. It features unique showrooms in a variety of places where customers may purchase products directly.
Lenovo products are easily accessible at multi-brand showrooms, allowing customers to compare product features, prices, and other factors between two or more brands.
It also sells to channel dealers and individual retailers through channel sales, which are handled by company-affiliated distributors. Aside from these direct distributors, the products are also available at Costco, Walmart, Bestbuy, and other retailers.
The products are also available for purchase on the Lenovo website. They may also be found on other e-commerce sites such as Flipkart, Amazon, eBay, Croma, and others.
Promotion in the marketing mix of Lenovo
Despite having significant competitors such as Dell, HP, and Microsoft, Lenovo has effectively targeted the correct demographic and marketed its brand.
It has positioned its products as devices that ‘Do the Work’ for users, as well as practical tools that can do important tasks rather than merely show-off accessories.
Lenovo employs a variety of methods to raise brand recognition throughout the world, including print media, television commercials, and social media promotions on Twitter, Facebook, and YouTube.
In 2011, it launched a campaign named “For those who do,” which symbolizes the company’s philosophy of being established by individuals who prefer to move quickly to achieve their goals. Lenovo users are depicted in this campaign as creative individuals who employ cutting-edge technology and resources to bring their visions to reality.
It is aimed at the younger generation, who have a better understanding of how to utilize such technology, and it aspires to collaborate with such users to build a better tomorrow.
In 2013, Lenovo also announced that Ashton Kutcher, a well-known Hollywood actor, will be the product engineer for the Yoga Tablet. Signing partnerships with celebrities with large fan bases help to market the business to a large extent.
I hope you have gathered all the essential information about the Marketing Mix of Lenovo and the 4 P’s of Lenovo. Stay tuned for more Marketing Mix Articles.