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One great loss of revenue to any company is the dangers created by stockpiling too many goods up in warehouses. The goods become obsolete rapidly, but on the other hand, if demand is not met, than a consumer may be lost, so there is always a trade-off between stockpiling and responding to immediate demands. Knowing the different needs of different regional market segments ensures a flexible, response and also keeps costs down because the company is able to keep 'just enough' of the product on hand to meet demand.
Thus, market segmentation or providing something that competitors do not is the key component of Legend's successful strategy along with its streamlined, specified system of procurement and logistics. Being a first mover into a market, and becoming the company that Chinese consumers associate with their PCs is an additional advantage for Legend.
What changes in corporate goals do you anticipate for Lenovo now that China has entered the WTO?
Now that China has entered the WTO there will undoubtedly be additional competition for Legend. Because of the rising competition from foreign competition, Legend has become more cautious about its outlook for growth. However, larger foreign companies may not be able to keep their fingers on the pulse of regional markets, and different segment's needs in the vast, ever-changing Chinese market in the same way as Legend has been able to, over the years. Thus, an ideal strategy for Legend would be to keep close ties to the regional demands...
The company must make use of the advantages it has that its competitors do not, namely in-depth knowledge of the differences within the vast nation.
Maintaining a good community relationship is key, as well as personalized customer service through retail stores. To accomplish this, for example, at the height of the SARS epidemic in China, "Lenovo donated funds to support the prevention of the disease, with employees voluntarily raising additional donations for this important cause. In 2005, the company donated funds to South Asian countries devastated by the tsunami" ("About Legend," 2007, Official Website). These types of deep regional ties within China its likely competitors are sorely lacking at present.
Fostering long-term consumer loyalty, making PCs with the Legend name crucial to the average Chinese consumer, and most importantly, reaching markets its competitors have trouble infiltrating and providing added value its competitors do not will all be part of the Legend strategy of the future.
Works Cited
About Legend. (2007). Lenovo Official Website. http://www.lenovo.com/lenovo/us/en/
Hung, Faith. (Dec 17, 2001)."Legend Looks to Defend Its Turf -- WTO Entry Will
Force China's Top PC Maker to Fend Off Unrestricted Rivals."
Lo, Chi. (Jan/Feb 2002). Asia's competitiveness endgame: Life after China's WTO entry.
The China Business Review.
Works Cited
About Legend. (2007). Lenovo Official Website. http://www.lenovo.com/lenovo/us/en/
Hung, Faith. (Dec 17, 2001)."Legend Looks to Defend Its Turf -- WTO Entry Will
Force China's Top PC Maker to Fend Off Unrestricted Rivals."
Lo, Chi. (Jan/Feb 2002). Asia's competitiveness endgame: Life after China's WTO entry.
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