Lenovo Market Segmentation
Lenovo’s business strategy has witnessed a massive transformation over the past seven years. Surpassing rivals Dell and Acer, Lenovo became the world’s second largest pc vendor behind Hewlett Packard in its fiscal year of 2011. Recently, new target market segmentations have been established to endure this rapid trend of accomplishments. Lenovo’s current target markets include city customers, rural customers with strong brand awareness, customers with advanced concepts and a high level education.
Amongst city consumers according to Claritas, the “Executive Suites” segment fits Lenovo’s targeted audience. Executive Suites consists of upper-middle-class singles and couples who typically own a management career position. Located within suburban and exurban communities, these are consumers who hunger for the latest technology, financial products, aerobic exercises, and travel vacations. They are consumers of IKEA commodities, who happens to play racquetball and are constantly active people with good physical health. The age ranges amongst this collection of citizens between thirty and fifty-five respectively. Usually, this segment of civilians is Asian and or Caucasian decent with four year college degrees. Stereotypically, the executive suite segment usually does not have more than one child per household. Categorized socially as affluentials, they tend to be big fans of healthy foods, effective computer equipment, consumer electronics, and the full range of big-box retailers.
Being that Lenovo is on a brand escalation path in the industry, they target regions on this rise of technology such as rural consumers. According to the PRIZM Claritas reference, the market segment most suitable is referred as “Old Milltowns”. These consumers’ financial incomes statuses reside at a downscale rate due to the fact that majority are retired. Therefore, ages range between 65 years and older. Most of these citizens are homeowners with self-regulating employed children. The ethnic
Amongst city consumers according to Claritas, the “Executive Suites” segment fits Lenovo’s targeted audience. Executive Suites consists of upper-middle-class singles and couples who typically own a management career position. Located within suburban and exurban communities, these are consumers who hunger for the latest technology, financial products, aerobic exercises, and travel vacations. They are consumers of IKEA commodities, who happens to play racquetball and are constantly active people with good physical health. The age ranges amongst this collection of citizens between thirty and fifty-five respectively. Usually, this segment of civilians is Asian and or Caucasian decent with four year college degrees. Stereotypically, the executive suite segment usually does not have more than one child per household. Categorized socially as affluentials, they tend to be big fans of healthy foods, effective computer equipment, consumer electronics, and the full range of big-box retailers.
Being that Lenovo is on a brand escalation path in the industry, they target regions on this rise of technology such as rural consumers. According to the PRIZM Claritas reference, the market segment most suitable is referred as “Old Milltowns”. These consumers’ financial incomes statuses reside at a downscale rate due to the fact that majority are retired. Therefore, ages range between 65 years and older. Most of these citizens are homeowners with self-regulating employed children. The ethnic