Lenovo is a multinational technology company incorporated in Hong Kong. It is known as one of the largest personal computer manufacturers in the world. It operates and sells products all over the world. Now that it has become a global application company, let’s see how they manage to achieve its target. We think that Lenovo’s Digital Marketing Strategy has played a major role. This article analyses marketing strategies, target audience, competitor analysis used by the company to give you an insight.
Lenovo was founded in Beijing and was incorporated in Hong Kong. It has its headquarters in Hong Kong as well. Some companies have grown immensely since their inception and Lenovo is one of them. It believes in dedicating and transforming customer’s experiences with new technology. It is an innovative and leading personal computer and smartphones. Lenovo specializes in the production and selling of:
- Personal computers
- Smart TV
- Yoga, IdeaPad, and ThinkPad series of notebook PCs
Source – Wikimedia
Lenovo believes in innovation in order to be the market leader in personal computers. Being a leader, it has products such as smartphones, tablets, and PCs. It is known as one of the respected companies in the world.
Let us now have a look at various marketing aspects and the target audience of the company.
Lenovo Target Audience
City customers as well as rural customers form an integral part of Lenovo’s target market as there is strong brand awareness, knowledge of advanced concepts, and high-level education.
It has a target market segment from the age group of 15 – 35-year-old consumers as they are more prone to using laptops, smartphones, and tablets. It targets upper-middle-class singles and couples as they have a strong base for the market as they are the working customers who use electronic items the most. It has also entered the rural market by taking various initiatives and developing them.
It also has different segments of customers which consists of individuals, corporate customers, and professionals who want to make their life simple by using Lenovo.
This explains why it has a larger target audience of customers.
It has strong competition in the market due to fast-moving technology. Also, all other companies are innovating and investing to create a huge brand presence in the market.
Here are some of the major competitors of Lenovo
Source – dreamstime.com
Lenovo’s competitors include Apple, HP, Dell Technologies, MI, Asus, Acer, Nokia, OnePlus, Huawei, and Microsoft. Lenovo ranks 2nd in Gender Score on comparison with its competitors. There are too many cheap products appearing in the world which makes it difficult to survive the cut-throat competition.
As we see, Lenovo has stiff competition in the market as every other company wants a larger market share.
Lenovo Marketing Strategy
1. Strong Brand Awareness
Lenovo has a brand presence as it provides a variety of products and markets the brand in innovative ways to grab customer’s attention. Here is the image:
Source – Lenovo website
Advertising is the main way to promote your brand, from the above image as you see it has created several different ads to create awareness. Lenovo has created strong brand recognition in the PC market and steadily they are creating awareness of their mobile phone segment also.
2. Social Media Strategies
This campaign heavily relies on social media. It has a strong social media presence which helps their customers to know more and stay updated about various new products in the market. Here is the social media handle of Lenovo:
Source – Lenovo Instagram
Source – Facebook Lenovo
Source – Twitter Lenovo
From the above images as you see they have a huge presence on all social media platforms which helps them to achieve a certain target market.
3. Differentiation Strategy
It is based upon how the product is superior enough that is offered to the competitors.
Here are some of the major benefits of the distribution strategy by Lenovo:
- Its products will command a premium price
- The demand for the product is less price elastic as compared to the competitor’s products
- Above-average profits can be earned
- It creates an additional barrier to entry for new businesses wishing to enter the industry
Lenovo is seeking to differentiate itself which will organize its value chain activities to help create differentiated products and to create a perception among customers that these offerings are worth a higher price.
Thus, Lenovo offers great deals on laptops, mobile, and smartphones, they have a lot of promotional codes available on their website which eventually helps the company stand out in the market.
4. Use of GoogleAds
Google Adwords, as we all know, is the largest platform for advertising for the company. The drill is very simple, you search for something and various ads pop up that are display ads in the same way Lenovo has advertised the brand as a display advertising following is the image for the same:
Thus, this helps Lenovo to reach a wide range of audiences through Google Adwords.
5. Influencers Marketing
Lenovo promoted its brand by influencer marketing from various people around the globe.
Here are some of the youtube images of the following ad called #Goodweird:
Source – Lenovo Youtube
This ad showcases a dance-off between three continents as one which includes influencers from India, Russia, and the US.
Lenovo’s “Yoga Campaign” is all about how the brand provides easy-to-use laptops, slim, with new features, and easy to carry anywhere.
Source – Lenovo Youtube
The ad campaign is eye-catching which grabs the user’s attention. It tries to promote that the Lenovo YOGA laptop is made for all of us.
This Ad campaign and influencer marketing video was something unique that eventually attracted customers towards the brand from all over the world. We must add that Lenovo’s marketing mix is quite extensive and diverse which definitely help in drawing customers towards the brand.
Lenovo being one of the leading companies, has a strong market presence and thus, company’s earnings are growing at a fast speed. It keeps innovating by offering a new range of products. As we see from the above blog it does face many challenges from its competitors, but the company tries to push its marketing strategies through advertising of their brands on various social media platforms this is one of the major strategies implemented by them. What do you think Lenovo should do to face huge competition in the market? How can they improve? Let us know in the comment section down below.
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