Lenovo Product Analysis

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Recommended: Evaluation of the product life cycle

Product
The product is either a tangible good or an intangible service that is able to meet a specific customer need or demand. All products follow product life cycle and it is important for marketers to understand and plan for different stages and their unique challenges. It is essential to understand all of the problems that the product is attempting to solve. The benefits offered by the product and all of its features need to be understood and the unique selling proposition of the product need to be studied. Moreover, the potential buyers of the product need to be identified and understood.
Lenovo is a company which manufacture laptops, PCs, workstations, software’s, accessories and storage devices etc. The number of IT software’s offered …show more content…

How a product is selling directly depends on the price of the product. This is related to what do the customers felt about the value of the product rather than an objective costing of the product on offer. The Price in 4Ps is important as a lot of stress is weighted on the price; this is because it does not matter how good the product is if it is not priced correctly. A company might produce the best product, but if is overpriced no one will be willing to buy it. On the other hand, same goes to under-pricing. If a company under-price a product too much, the customer will not find the product a quality product. This is why it is essential to price a product …show more content…

It markets itself through modern retail, E commerce chains, and majorly through the large numbers of IT and peripheral shops present across the country. Generally, Lenovo operates through channel sales whereby distributors are associated with the company. These distributors in turn give to individual retailers and channel dealers. At the same time, Lenovo sells the products directly through modern retail and through online channels. Hence, due to channel marketing concept, Lenovo’s product has been able to spread far and wide. Today, Lenovo is operating in Hong Kong, Beijing, China, Morrisville, US & Singapore with many centres spread almost all across the globe. Some of the centres where Lenovo is currently are Shang Hai, Xia Men, Cheng Du in China, Shen Zhen, and Yamato in

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