Customer Satisfaction and Services Marketing

Question: Discuss about the Customer Satisfaction and Services Marketing. Answer: Introduction: In order to analysis current market situation, the management of Lenovo should focus on macro and micro environment factors. On the other hand, the macro environment includes five factors such as political, economic, social and technological factor(Aaker, 2003). Political factor: every organization needs to follow governmental policies to expand their business a legal manner. Moreover, the political factors influence Lenovo to implement security strategies, stakeholder strategy, and customer analysis. Economic factor: the economy of the UK is the major aspect which creates an impact on Lenovo. In other words, investment plans, financing cost and GDP effectively influence the business of the Lenovo. Social factor: it is one of the critical factor of the macro environment which includes a personal choice of the local customers. Besides that, the management needs to analyze social factor to determine the preference of their customers. Technological factor: in order to expand the business properly, the management of Lenovo needs to focus on latest and innovative technology. Apart from that, due to this factor, Lenovo can attract more customers and increase profit(Duverger, 2002). Micro environment analysis The micro environment includes internal components of the organization such as owner, employees, suppliers, customers, competitors, and shareholders. Moreover, Lenovo needs to focus and analyze the current situation of the organization. As well as, the relationship between employees and management also influence the profit of the organization. On the other hand, the coordination between customers and employees also increase the revenue of the organization. Besides that, in order to satisfy the customers, Lenovo must recognize current needs of their customers. However, both micro and macro environmental factors help the management of Lenovo to analyze current market opportunities(Fandel and Portatius, 2005). Market Segmentation, Targeting, and Positioning Segmentation The market segmentation includes demographic, geographic, psychological and customer behavioral approach. The management of Lenovo needs to focus on the specific area or the geographic factor of the market segmentation to deliver the service. Besides that, demographic factors conclude income, education, the lifecycle of the customers and Lenovo needs to pay attention to those customers who matches this factor. On the other hand, psychological factor includes the state of mind of the customers. In simple words, Lenovo must analyze the thoughts of their customers for the proper approach. Analyzing the behavioral approach to the customers, the management should recognize the trustworthy. In other words, some customers hesitate to purchase a particular product, so the management should focus on this customer as target customers. Targeting This segment includes the customers who are targeted by the management of the customers. Besides that, Lenovo should target those customers who were spending lots of amounts to purchase laptops, mobiles and so on. Moreover, famous and rich businessmen, college students and corporate people should be the target customers of Lenovo. Positioning In the favorable market environment, Lenovo should expand their business. On the other hand, positioning is one of the vital element which includes various types of elements. In addition, the management of Lenovo should expand their business in those corporate sectors where the demand for laptops and mobiles always remains high(Fandel and Portatius, 2005). Marketing programs The marketing strategies and planning includes some significant factors such as 7Ps. In addition, this 7Ps includes seven different factors such as product, price, promotion, place, people, psychical evidence and process. Each and every segment of marketing 7ps will be discussed below: Product: this is one of the critical factors of 7ps model, and with the help of this factor, the management of Lenovo can attract their customers. Moreover, specifically, Lenovo should introduce an innovative product, for example, a laptop which includes additional features. Moreover, Lenovo must offer a laptop which has the latest operating system and hardware configuration that attract more customers. Price: the price of products is one of the critical factors which measured by the management. In other words, most of the customers are price-sensitive, and they want more useful products and service at a reasonable price. Moreover, in order to finalize the price of the product (laptop), Lenovo must analyze current market condition and requirements of the customers. Promotion: the promotional activities is implemented by many organizations to attract the customers. On the other hand, Lenovo needs to offer more additional features with the products. Besides that, Lenovo can provide a discount of price which is an attractive strategy used by many companies (Hamilton, 2012). Place: this is the very critical phase of this 7Ps model because due to this factor, Lenovo can organize and plan their marketing strategies. For example, Lenovo needs to select a specific location which contains potential customers who increase the profit of the organization. People: Here, the type of people are targeted by the company. For Lenovo, IT people are suitable to sell products. Moreover, it is important to train and hire the right people for delivering superior service to the clients. School and college students of todays generation use laptops. So, Lenovo should target these types of peoples. Process: Marketing mix also consists of a process where the overall system from production to delivery is implemented by Lenovo. Therefore, the organization has to make sure that output and delivery process is well-tailored. Lenovo should make sure that the production cost can be lessened. Physical Evidence: The physical evidence of Lenovo are factories, offices, customers, stores, products, government certificates and so on (Yelkur, 2014). This physical evidence increase the hype of the company and thereby leading to the attraction of clients. Marketing Strategy and Objectives The marketing objective of Lenovo is to furnish the business sectors with a wide mixed bag of technology-driven products to satisfy their separate targets (Singh, 2015). Lenovo has the goals to design and develop a full range of personal technology which consists of tablets, smart TVs as well as tablets. Moreover, the particular company also aims to globalize their markets all over the world. On the other hand, the company seeks to attract top talents from diverse backgrounds which represent an extensive collection of languages and nationalists. In China, Lenovo aims to attract more customers. The company also target to develop the overall experience of PC ownership which driving the total cost. Marketing plan offers a unique opportunity to Lenovo for productive discussions among the leaders and the staffs. The company is also committed to being an active and responsible corporate citizen. It aims to improve the working conditions of the business while contributing to the betterment of the companys local communities along with the overall society and the environment. The marketing strategy of Lenovo includes a promotional strategy of products along with brand awareness (Ferrell and Hartline, 2005). The policies also contain marketing plans to achieve competitive advantage. The organization is also concerned with the pricing strategy. The products of Lenovo are sold in the international market with consistent product. Strategies to sell low priced good products also leads to business improvement. The company cannot set high prices that that of their competitors because the production cost of Lenovo is not that high. They assemble their laptop China (Cadogan, 2009). Control and Evaluation Control, implementation, and evaluation are the three supports of a marketing plan. At first, Lenovo should make a marketing plan which will include all strategies to beat the rivals along with the financial stability. The number of employees working in a particular sector is managed and controlled by the manager of the company. After the plan has been chalked out, Lenovo should engage themselves in promoting the launch of the product like laptops. The promotional activity includes running of ads or launching websites and sending direct emails. It is the implementation stage (Lewis, 2007). The implementation phase of the company's marketing plan ensures that the marketing activities happens inappropriate time for success. Next, the evaluation step of Lenovo's marketing plan is concerned with the analysis of qualitative and quantitative metrics related to the strategy and implementation. At last, control is necessary for evaluation phase. During the creation of Lenovos marketing plan controls are established. It provides benchmarks for assessing how good the plan accomplish its objectives. The control phased depends on the retailer of the product. If the retailer can make a customer understand the advantages of Lenovo laptops, then the company can achieve marketing objectives such as attracting more clients and gaining competitive advantages. Customer feedback plays a significant factor in the business. A positive customer feedback can lead to organizational advantages (Evenson, 2007). The control phase of Lenovo includes customer feedback, target market sales, budgeting and market share. The budgeting should be made in such a way so that the client can afford to buy laptops at a reasonable rate. References Aaker, D. (2003).Strategic market management. 1st ed. New York: Wiley. Duverger, M. (2002).Political parties, their organization and activity in the modern state. 1st ed. [London]: Methuen. Fandel, G. and Portatius, H. (2005).Revenue Management. 1st ed. Wiesbaden: Gabler. Hamilton, W. (2012).Price and price policies. 1st ed. New York: McGraw-Hill. Cadogan, J. (2009).Marketing strategy. 1st ed. London: SAGE. Evenson, R. (2007).Award-winning customer service. 1st ed. New York: AMACOM. Ferrell, O. and Hartline, M. (2005).Marketing strategy. 1st ed. Mason, Ohio: Thomson/South-Western. Lewis, J. (2007).The project manager's desk reference. 1st ed. New York: McGraw-Hill. Singh, P. (2015). Lenovo acquires IBM's x86 low-end server business.Industrija, 43(3), pp.191-219. 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