The paper “ Marketing Mix Strategies of Lenovo Company” is a thrilling version of the case study on marketing. The marketing mix is an organizational tactical toolkit that includes the elements of marketing such as product, price, people, physical evidence, process management, promotion, and place with which companies execute an effective and efficient marketing strategy. Companies adjust the various marketing mix elements with the objective of gaining optimum environment fit and subsequently satisfy the diverse needs, expectations and preferences of consumers (Onkvisit and Shaw, 2008, p. 7). Product, pricing, place, and promotion strategy are employed by multinational brands such as Lenovo to influencing the cognitive, affective and behavioral responses of consumers in a manner that enhances the consumer experience of such brands.
The consumer’ s search and purchase decisions are significantly informed by how they perceive a particular brand of product (Hanzaee and Yazd, 2010, p. 3775). The Lenovo Company recognizes that their understanding of the needs, aspirations, expectations, and preferences of their consumers plays a crucial role in using and adjusting the marketing mix strategies to influence the buying decisions of their consumers to the advantage of the company (Muzondo and Mutandwa, 2011, p. 2).
The strategies used by a company to adjust its marketing mix is determined by how effective a company communicates its brands, products, and services to target consumers. This is crucial since it enables a company to shape the perception of consumers regarding its brand of products. Effective marketers are able to not only design but also manage the various inputs of the marketing mix to influence the search and purchase decisions of consumers to their advantage. Lenovo has been successful due to the fact that it has been able to provide its consumers with a unique and distinctive experience through effective company representation, visual identity, and supervision provision. 7.1 Product: Core, Actual and Support ComponentsThe product component of the service marketing mix is considered to be the core offering of multinational business companies such as Lenovo Company.
The Company has remained competitive, relevant and highly profitable due to the fact that the company provides its customers with highly competitive computer and related products and services. Other than being competitive, the company’ s computer products/services are designed to enhance consumer value.
The Lenovo Company exhibits a highly differentiated product/service continuum. The company recognizes that without competitive and highly differentiated computer products/services it can loose a significant margin of the global computer products and services market share to competitors such as Dell and HP among others especially in the US, China and most parts of the Asian market (Technology Envy, 2013). The company’ s products are highly innovative (Lenovo, 2013). Most of the company’ s products such as laptops are based on thin pad technology while others are loaded with AMD-based processors.
Other than the provision of PCs, the Lenovo Company also provides products such as smartphones and Tablets. According to Technology Envy (2013), the company hopes to venture into the other computerized products and accessories. Its is due to this innovativeness that Lenovo ranks second in the world having overtaken both HP and Dell and achieving approximately 16.7% of the global computer products and accessories sales (Norton, 2013; Xing, 2010).