Marketing Mix Of LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD

Posted by Zander Henry on Aug-22-2018

1. marketing mix

1.1. Understanding the marketing mix

• The marketing mix is an important set of marketing tools and characteristics that a firm uses to increase penetration in the target market groups
• Using the marketing mix strategically includes focusing on seven important aspects of marketing and branding for an organization, namely: product, place, price, promotion, people, process, and physical evidence

1.2. Importance of marketing mix

• The marketing mix helps a company choose and decide on a suitable marketing strategy
• The marketing mix also helps a company in resource and budget allocation to different aspects of the marketing strategy and product development
• The marketing mix also allows a company to choose the right and effective marketing tactics for its promotional needs

2. Marketing mix for LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD

LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD makes use of the marketing mix strategically to achieve not only the marketing objectives but also the broader organizational objectives.

Marketing Mix LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD is presented below:

2.1. Product

Product is one of the most important components of the LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD Marketing mix. The distinctive characteristics of the product by LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD are:

2.1.1. Quality

• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD maintains the high quality of products
• High product quality is maintained by adding value during different stages of the value chain
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD procures raw materials from reliable and trusted suppliers only
• These raw materials are processed under carefully maintained environments to maintain high and consistent quality of the products
• High quality promise and delivery also provides LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD with a distinctive competitive advantage

2.1.2. Ease of use

• The products manufactured and sold by LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD are relatively easy to use
• All products come with a user manual, which is easy to understand and which provides simple instructions for product use
• The consumers can also call the 24/7 helpline to understand details about product usage
• Also, retail representatives provide detailed instructions and explanations regarding the use of the product at the time of the sale

2.1.3. Portfolio broadness

• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD has a broad portfolio of products
• The broad portfolio helps LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD in reaching different target groups in the market
• Also, the broad portfolio allows financial strength to LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD
• The broader product portfolio also adds more value for LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD

2.1.4. Benefits of product consumption

• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD offers functional benefits to consumers of the product use
• These functional benefits are promised and delivered – however, they are also delivered by other similar products
• The distinguishing aspect of LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD is its delivery of emotional benefits to the consumer
• Products manufactured and sold by LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD promise consumers an ego boost, confidence, and security
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD also promises fulfilment of psychological needs on product consumption
• These psychological needs include, for example, the need for empathy, the need for belonging, and the need of feeling loved.

2.1.5. Different SKUs

• The products by LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD are available in different sizes
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD has made use of different SKUs to increase market penetration
• Different SKUs can be brought and used as per the consumption needs of the consumers, and the target markets
• Through the production of different SKUs, LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD has also increased the trial rate
• Different SKUs have also helped LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD improve its product accessibility

2.2. Price

LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD marketing mix focuses on a hybrid strategy for pricing to obtain maximum value for its products. The marketing mix LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD uses a combination of a number of techniques for pricing its products, which are detailed below:

2.2.1. Premium pricing

• By using premium pricing for some of its product ranges, LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD encourages favorable brand and product perceptions in target consumer groups
• Premium pricing for products also encourages a favorable quality perception of LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD products amongst consumers
• With premium prices, LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD has successfully also made some of its product ranges exclusive by restricting sales and production. This, in turn, leads to a perception g luxury in consumption products
• Premium prices add a touch of privilege and high value in LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD products
• Using elements of premium prices in other product ranges has also allowed LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD to maintain significantly high profits and a consistent business growth

2.2.2. Psychological pricing

• Since LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD has a number of different product ranges and product groups, the use of psychological pricing has been beneficial
• With the use of psychological pricing, LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD also successfully adds more value to its products from the point of view of customers
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD also gains higher sales with psychological pricing
• Consumer purchase a higher amount of LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD products because of its use of psychological pricing
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD is able to increase its target audience and broaden its target purchaser groups

2.2.3. Geographical pricing

• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD is able to penetrate different regional markets optimally with the use of geographical pricing
• For offshore locations, geographical pricing also allows LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD to cover shipping and customs expenses
• Geographical pricing also allows LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD to maintain consistent revenue growth by altering pricing in different markets based on local currency value

2.2.4. Bundle pricing

• For some product ranges, LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD is also known to use bundle pricing strategy popularly
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD also uses bundle pricing during sales
• Bundle pricing increases the trial rate for consumers
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD experiences higher return on the cost of gaining a new customer
• With bundle pricing, LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD is also able to control costs and prices by lowering marketing and distribution expenses
• The use of bundle pricing also adds value to the umbrella brand name of LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD.

2.3. Placement

LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD places high importance on the placement of its products because it directly relates to accessibility for consumers.

2.3.1. Company-operated stored

• The company maintains stores operated by the management of LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD in all markets
• Company-operated stores give LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD higher control over operations as well as store layout and design
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD also interacts directly with the consumers and gathers important details regarding consumer behavior and consumer feedback through company-operated stores
• The company operated stores also give leverage to LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD in terms of decisions regarding the stocking of different product items

2.3.2. Licensed stores

• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD licensed stores also allow consumers to enjoy the various product offerings by the company
• Licensed stores also decrease the risk of financial and physical investment for LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD in unstable markets
• Licensed stores have also given LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD high business growth, and a boost for rapid market expansion and penetration
• Through licensed stores, LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD has also learned about local consumers and cultures
• Licensed stores and shops encourage sales of products by LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD by aligning it with local cultural values
• Licensed stores also help LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD in localizing its product offerings to enhance brand equity and band image

2.3.3. E-commerce

• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD has developed a successfully operational website for online order placement and order tracking
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD also encourages sales through social media portals, where the company takes orders through direct messages, as well as through a mini-shop model
• The company also stocks products with online retailers such as Amazon and eBay, as well as smaller local online retailers as well
• Online retailing, and using the internet to make sales has boosted the sales for LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD and has also increased the accessibility of its products for consumers.

2.3.4. Supermarkets and hypermarkets

• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD also places its products in supermarkets and hypermarkets across the country
• A large number of LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD target groups shop from supermarkets and hypermarkets
• Placement in supermarkets and hypermarkets also improve cost efficiency for LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD

2.3.5. Partner agents

• In offshore locations, LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD also makes use of partner agents for its products’ placement
• These partner agents are assessed and evaluated on strategic compatibility and reliance
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD contracts with partner agents in other countries and markets for its product placement to ensure quality control and terms of negotiation

2.4. Promotion

The marketing strategy for LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD also places high importance on the promotional tactics and strategies used. The promotional strategies allow the LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD to interact with the consumers and influence them directly. LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD uses a 360-degree approach in its promotional activities, and makes use of the following means of promotion:

2.4.1. Digital marketing

• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD has corporate profiles on all social media websites and portals
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD uses its social media presence to directly, engage with consumers
• This direct engagement and interaction allows LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD to understand the customers, their needs and demands
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD uses this feedback and incorporates it in its broader marketing and organizational strategy
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD also maintains a corporate website – which highlights company information, product information as well as information regarding any ongoing campaigns and sales

2.4.2. Reward Programs

• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD has a loyalty card program for its customers
• The loyalty card allows customers to redeem points in exchange for products or other exciting gifts, as directed by the company
• Each purchase is entered into the loyalty card by LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD and is valued for points against the products’ monetary value
• The loyalty card can be purchased or is given complementary by LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD on high valued purchases
• Frequent usage and purchase of products by LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD also has rewards against the loyalty card

2.4.3. Community Influencers

• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD makes use of community influencers as its on-ground promotional efforts
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD identifies strong and confident individuals to be brand ambassadors in their communities
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD provides these brand ambassadors and community influencers with its product range and invites them to use it themselves to see benefits

2.4.4. Conventional marketing

• The company places advertisements in consumer-related magazines. This largely includes home decor, and home management magazines
• Magazine ads are not very frequent, but appear twice every quarter of the fiscal year
• In high-density locations, LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD also makes use of out of house hoardings
• Hoardings increase visibility for LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD and also work towards building stronger brand recall
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD also produces TV advertisements
• All TV advertisements have an emotional appeal to them
• TV advertisements by LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD have progressed to include a slice of life elements and characteristics
• TV advertisements by LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD also highlight the functional benefits of the product

2.5. People

The marketing mix of LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD also places an essential focus on people development and people building. This is because LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD realizes the importance of employees in building strong customer relationships. LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD develops its employee and people by focusing on the following aspects:

2.5.1. Training

• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD makes sure that all employees undergo regular training sessions for skill development and enhancement
• Trainings at LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD are not the only field related, but also focus on essential management and organizational skills
• Training sessions and activities at LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD also identify with the employee's own needs of progression, development and growth
• All training sessions and activities designed and carried out by LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD take into consideration business goals and objectives, as well as employee's personal goals and aspirations
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD, therefore, tries to develop the employee as an organizational member, as well as an individual
• All training is engaging, and hands-on so that employees do not only learn but also experience

2.5.2. Organizational ownership

• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD works on strengthening the organizational commitment in its employees
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD builds employee loyalty so that people can reflect their optimal best at work
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD also understands that satisfied employees will lead to happy and satisfied customers
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD regularly shares different reward programs for employees, including stock sharing, so that their organizational commitment and ownership is enhanced
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD also includes employees in decision making at different managerial levels, and regularly takes their feedback for different projects and products – which also work towards building organizational ownership

2.5.3. Motivation building

• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD employees are the face of the organization
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD are motivated through the exciting and creative organizational culture
• Employees are also motivated through different reward programs and bonuses that LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD distributes
• Another source of motivation is appreciation programs where management appreciates and acknowledges the work and performance of different employees

2.5.4. Succession planning

• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD remains one of the leading players in the industry also because of its focus on succession planning
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD conducts succession planning for all managerial levels
• Succession planning is done through internal promotions as well as external recruitments to meet the needs and demands of the vacant job position at LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD
• Strategic succession planning has allowed LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD to be prepared for different challenges, and also be resourceful enough to deflect them

2.6. Process

LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD has organized and systematic processes in place to make sure that the business experiences consistent growth.

2.6.1. Operations

• All operations at LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD are clearly defined and communicated to the employees
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD makes sure that employees are well trained, and knowledgeable of all processes relates to operations
• All stages of operational processes focus on maintaining a high quality level and standard of the products
• Systematic process re in place for all operation – from procurement to the final sale of the products
• All operational processes are maintained, checked, and uploaded through the internal portal of the organization for supervisory purposes
• The use of online portals for operational processes also builds a strong backup for managerial purposes at LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD

2.6.2. People Management

• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD has also defined clear processes for people management through streamlining its human resource management department
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD has defined guidelines regarding recruitment, training, compensation management, and performance appraisal of employees
• All people related processes are not only communicated to the management and supervisors, but also to employees to create a sense of transparency, and an environment of trust
• Progressive people management systems and processes have allowed LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD to keep its workforce motivated and happy – which reflects in satisfied customers

2.6.3. Quality maintenance

• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD also has defined policies and processes for managing and maintaining quality
• All products undergo triple quality checks to ensure that customers receive the best product
• In addition to quality checks at the production and distribution level, the management has also placed separate quality maintenance and quality check department
• The quality maintenance department has experts who make sure that not only the final product but also the processes involved in producing the product were infused with quality

2.6.4. Store management

• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD manages store management through stringent and closely monitored policies and processes
• These processes relate to not only the floor and space design but also to the performance of the employees at the store
• The processes for store management also regularly monitor footfall and work on strategies to increase footfall through different tactics, and changes in the store design and store management
• The company also has a systematic process for customers who interact with the products and feel them before making the purchase
• The final sale at the store is also clearly defined – for the employees and the customers both
• Processes and policies are important for LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD for maintaining quality of the products, and for ensuring that the company does not experience any unnecessary expenses and costs

2.7. Physical evidence

The physical evidence is also important in the marketing strategy for LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD as it works towards influencing the consumers in favor of the brand and its offerings. The physical evidence for LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD include:

2.7.1. Store atmosphere

• The store design and management for LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD is exciting and creative
• The store atmosphere makes the customers feel relaxed and comfortable –so that they can interact with, and enjoy product offerings by LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD at ease
• The store design is also important for LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD because it controls the level and nature of experience and interaction that the customers have with the product and the brand
• With company-operated stores, it is easier for LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD to control and manage the store atmosphere to be able to positively influence customers and to be able to appeal to them emotionally

2.7.2. Packaging

• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD has unique packaging, which is different from other players in the industry
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD also has a vibrant touché to its packaging, which is regularly changed in terms of colors and patterns
• The logo for the company is simple, and recognizable by the consumers easily
• The brand logo has also become a symbol of confidence, ambition, and aspiration for consumers who use products by LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD
• The packaging of the products is sophisticatedly done and matches the brand image developed and maintained by LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD

2.7.3. Website design

• The website design is simple and easy to use
• LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD has a customer friendly user interface which allows easy navigation and understanding of its various product offerings
• The corporate website of LENOVO A CHINESE DRAGON IN THE GLOBAL VILLAGE - DVD also has the brand logo, and is packaged similarly to the products offered by the company
• The design patterns, and color change on the website with changes to the product packaging to match various campaign needs and sale offerings