Lenovos It Market Competition free essay sample

Abstract In recent years, competition in the IT market economy has turned fierce. To survive in the competition, all organizations need to be fully aware of the prevailing business environment and also to ensure that their product(s) conform to the customers expectations as the taste and choice of the customer changes rapidly over time. Leno has utilized unique competitive marketing strategy over the years to achieve rapidly increasing share of the IT market. Lenos major strengths lie in its current brand image and market share. Its products are reliable, durable and of high quality, UT there is always a great deal of threat from leading competitors in the market. Recent weakening of the US economy and falling dollar value are other irritants to Lenos growth. Leno and its competing rivals For businesses to understand adequately the nature of the competition they face, they must define their market accurately by recognizing a broad base of its competitors. We will write a custom essay sample on Lenovos It Market Competition or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Analysis of marketing research data so collected indicate that all organizations need to be in touch with their business market environment and feel the pulse and ever changing expectations of customers. Major dominating competitors of Lenos Personal Computers division are Hewlett-Packard and Dell who account for 21% and 54% respectively of the international corporate market. The strategy is to develop latest PCs that are efficient, light in weight with latest features and of course with low competing price. There is cut throat competition in the market. With innovativeness, entrepreneurial spirit and teamwork across various cultures, Leno captured the global market of its competitors and positioned itself within a short life span as a next generation global company of PCs. Leno: Innovations per excellence Innovation is how Leno achieves competitive differentiation and drives new market product opportunities, such as mobile internet, digital home and cloud computing. To outperform its competitors Leno has recently launched it new and improved Thinking. Its interesting to note that Lenos legendary Thinking is the laptop currently certified for use on the International Space Station. This ultimate machine has undergone extreme testing to qualify for flight-approved duties to the liking of astronauts who rely on its speed, power and performance. Lenos continuing global expansion is fraught with fierce competition and if it fails to meet the customers expectations of tomorrow, it will not have smooth sailing. Lenos ability to bring world-class science and engineering to the global marketplace is largely boosted from the existing global network of its founding partners: MM, Intel, Microsoft, Symantec and Landers. In order to expand their global share, Leno has recently opened innovation centers in growing economies like China, India, Hong Kong, Japan and Brazil among others to name a few. Apart from its state of art innovations and cutting edge technological leaps, in order to stay competitive it will have to be cost competitive, with low environmental impact (CEO-friendly) and at the same time maintain its ethical business standards amongst its stakeholder. Further, in order to outdo its rivals, it will have to continuously improve upon its marketing strategies across various demographer nice sectors and geographic regions. Marketing goals The ultimate goal of Leno is to improve its overall experience of PC ownership through its well documented trust and integrity, team work and globally competitive innovatory entrepreneurial skills. Leno has long-term goal of becoming the leading personal technology company in the world. They are set to achieve this goal by leading in three key areas: personal computers, convergence, and culture. They want to lead the industry with an ecosystem of devices, services, application and content for people and become the best recognized and most trusted company to work for and do business with. SOOT Analysts Lenos major strengths lie in its current brand image due to its superior reputation for high quality products and its continuing innovation in the high-end products like the Thinking XSL Carbon. In addition, their in-house manufacturing allows them to lower their cost which leads to a more competitive position for a price war against their competition. Their knowledge about the local market, strong research development team, mass manufacturing capability and quick responsiveness gives them a competitive edge. Although Leno strides in its top of the line customer service, one of its major weaknesses is their poor global brand perception and their limited knowledge of global market. In general, its team has less market knowledge than local experienced players like HP and Dell in the US market. With low marginal costs and a wide product range, Leno has the opportunity to become a one-stop powerhouse in the market. With increasing global demand of personal computers technology, there is heavy competition among other rivals. Everyone wants to have a portion of others progress, so there are software piracy issues and cloning of products that slows the companys growth. Also, the weakness of the US economy and dropping value of the dollar might pose a threat to Lenos growth. In order for them to do well among other competitors they would need to select he right distribution channel (direct instead of traditional), and change their strategy of product model according to the segmentations, and focus on price strategy for different segmentations.