Marketing Plan For Lenovo 3qd3m

MARKETING PLAN FOR LENOVO

By Student’s Name

Course code+name Professor’s name University name City, State Date of submission

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Abstract In last two decades, globalization of industries has caused market competition to become fierce and challenging in the free market economy. The economic growth of developing nations has largely helped specialized industries in the field of Information Technology to enhance their performance and economic strength so as to compete with the World market. Competition in the digital technology encourages leading established companies such as Google, Microsoft, Dell and apple inc to invent and introduce latest features in their products so as to achieve competitive advantage as well as to retain their brand image in the world market. But how a newly established product can create global awareness remains a critical issue because such products need vigorous marketing efforts and techniques to create a brand image whilst competing with global companies on prices, product features, and after sales service. This paper documents how the implementation of latest marketing tools had made the merger of Lenovo PC with IBM to be successful; thus becoming number three Computer Company in the world. Although the company consistently invests heavily in research and marketing portfolio activities for achieving success in fierce competition of digital products, it still needs an effective marketing strategy so as to improve its profits and capture the Chinese IT market. New Marketing planning focusing on the brand strategy is the real insight beyond products and services can create the interest of consumers to choose Lenovo products over existing products. This research presents a concrete marketing plan of Lenovo for its future growth by analyzing the past and current marketing performance of the company.

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Table of Contents Executive Summary………………………………………………………………………...…4 1. Corporate Objectives……………………………………………………………………….5 2. Marketing Audit and Analysis of the Marketing and Management Capabilities……….….7 3. SWOT Analysis……………………………………………………………………………10 4. Marketing Objectives and Strategies of Lenovo……………………………………..……11 5. Marketing Programs……………………………………………………………………....16 6. Implementation and Control…………………………………………………………..…..18 7. Marketing Budget…………………………………………………………………………19 References………………………………………………………………………………….20

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Executive Summary Mergers and Acquisitions have become an effective marketing tool for any established company to become global and establish international brand image but how a newly created company can build global brand awareness and successfully creates global brand in a short span is a critical issue. The economic and political reforms of China has brought tremendous changes in the intellectual level of Chinese, which offers a huge opportunity to Lenovo to understand the needs of their people and introduce those products that satisfy their requirements. According to the basic features of macroscopic external environment, if Lenovo wants to create a brand image, it should bring reforms in the current marketing system, creates the unification guiding ideology, and adopts strengthened core competitive power, and incorporate market and product development in its integration strategy. Only such efforts can consolidate the leading position of Lenovo to win the intense market competition, and receive the incomparable social and the economic efficiency. Study on Lenovo’s marketing developmental plan is the application of strategic marketing management in Lenovo Company. By analyzing internal the external environment and studying the future marketing development, this article utilizes the knowledge and method of the economic management, the marketing, the pedagogy so as to recommend suggestions for future development and propose the concept of strategic marketing plan and tactics for Lenovo. Besides, this article will also demonstrate new conception of marketing programs, which will help the company to establish brand image worldwide. The Introduction of the Lenovo Lenovo also popular as Legend, was incorporated in Beijing, by eleven scientists who had a vision to establish a company, which would offer the benefits of information technology to the Chinese community. With RMB 200,000 equivalent to US $25,000, as

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capital investment, the company was established in a small shop in a rented space, which opened the new era of PCs in China. Since its inception, the company has changed the lives of Chinese. In the beginning the company launched PCs for households, and then it developed PC usage in China by creating retail shops national wide. Besides, it also pioneered in developing Legend Chinese Character Card, which has an ability to translate English operating software into Chinese characters, and achieved success like PCs with onebutton access to the Internet. In 2003, the company changed its brand from Legend to Lenovo, using the “Le” from Legend, and adding “novo”, which means for “new” in Latin, to demonstrate the innovation sprits at the core of the company. In August 2004, Lenovo, declared the acquisition of IBM’s PC Division with a total worth of 12.5 billion US dollar that included six billion Lenovo’s stock and six and half billion of cash. This acquisition in 2005 enabled Lenovo to become the third-largest PC Company in the world closely followed by Philips and Dell. Today, these two companies functions under the Lenovo brand. With the landmark acquisition of IBM’s PC Division, Lenovo has become a leader in the global PC market, with nearly $13 billion in annual revenue, and products serving consumers and enterprises worldwide. In China, the company rules over more than one-third of the PC market, covering all segments of society (Ramstad 2005). 1. Corporate Objectives Lenovo’s motivations behind its acquisition demonstrate unparallel corporate objectives. Several objectives appear to have driven the company to make the acquisition. It seems that the key objectives behind the acquisition were: to enable the Lenovo to globalize and transform into an international corporation ultimately; to reduce the cost of production by merger with IBM, which could help Lenovo in the supply-chain management from IBM; to

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obtain an international brand from IBM; access to new customers as well as to expand the company’s structure so as to strengthen its bargaining position with suppliers. Internationalization: The acquisition was necessary and the fastest way for Lenovo to target other untapped markets for increasing its sales and expansion. Since 2000, the company’s market share in the Chinese market declined because of decrease in sales and demand. Besides, several PC Companies adopted a price competition strategy in order to capture their market share. Moreover, with China entering WTO, the barrier on FDI gradually removed and thus, China paved the way to PC giants such as IBM, Dell and Phillips. At such a time, the company deeply emphasized that internationalization was an essential steppingstone for future growth. This M&A with IBM has offered fast routes for Lenovo to become the third largest PC producer in the world (Chen 2006). Acquiring Skills and Technology: Another key corporate objective was to gain access to the latest technology so as to secure R&D skills from IBM. This was another strategic objective for overseas expansion. From Lenovo’s perspective, if it is able to integrate successful with IBM in term of developing skills, the company will become a large integrated PC company, which would further enhance R&D, production and manufacturing, marketing, distribution and after-sales-service. This was considered to be one of the key objective Lenovo could achieve through merging with IBM enabling Lenovo to assess a potential competitive advantage through reduced production costs. Acquisition of a Brand: The corporate objective behind the merger was an agreement with IBM to use the international brand, ThinkPad, for 5 years. Chinese Industries encounter key challenges to sell their products in the international market due to absence of brand image and Lenovo was successful in selling PCs worldwide with the of IBM. Acquiring a well established international company enabled Lenovo to use the brand of the IBM during the initial stage of introducing the product in the international market that

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increased the willingness of customers to buy the product. Taking a of a well-known brand such as IBM enhanced the impression of buyer towards PCs; thus allowing the company to make available its product at the higher end of the market (Hamm 2005). Access to New Customers: One of the most challenging strategic objectives for the company is to capture new customers in the World market in order to enhance growth through international expansion. As the company had achieved saturation in sales in the Chinese markets and hardly moved further. With the merger, Lenovo established its strategic focus on its PC manufacturing and made better use of the international brands, ThinkPad for 5 years. Through this way Lenovo was successful in reaching more new s and bolster growth with international expansion. Cross Culture and People Asset: One of the biggest challenges for the company is how to manage its most significant asset-- “people”. As the strategic aim of the company is to expand its market beyond China and participate on World scenario, Lenovo not only expected changes in sales channels and supply chain, but also how to avoid IBM employee turnover. It has been observed that employees of IBM are very proud of working with IBM; questions may arise whether such employees will accept the new company structure and decide to stay with Lenovo. Since Lenovo is a localized company, it lacks of experience in dealing with international operation, cross-cultural conflict management as well as how to stabilize the overseas senior management, especially in the American market which is vital to the company (Khanna 2005). 2. Marketing Audit and Analysis of the Marketing and Management Capabilities In the local market, Lenovo holds the first brand in Chinese IT industry. The company’s overall share of computer industry in China has touched at 22%, significantly, which is ahead of competitors. Lenovo enjoys a monopoly status in the personal computer market because its market share of 24% is higher than the globally recognized monopoly. The

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company also holds an upper edge in the business PC market with a market share of 14%, which is higher than domestic computer manufacturers and its strong brand ranks the first. After acquisition of IBM's PC operations, the company’s marketing strategies were largely conventional, with an aim to strengthen the corporate business sales of IBM’s PC. This marketing strategy assisted Lenovo to stabilize and gain recognition in the US market, but it received considerable setback in 2008-2009 as corporate purchases declined. Yang, the chairman invited Liu Chuanzhi in 2009 to take over the control of the board to expand the company’s global operations. In two years, Liu transformed Lenovo into a profitable and expanding Organization. It seems that Lenovo did not implement any radical new strategies after suffering losses in 2008-2009. Instead, the company strengthens the areas in which it has already made significant investment or achieved success. What seems to have improved is the overall management of the company. There is a growing effort toward emerging markets as detailed later. They also took better advantage of the recovery of the North America corporate PC market than its rivals (Yang 2010). Lenovo should adopt a protect/attack strategy for 2011-12 and should follow: •

The company needs to continue its lead in PC market share in domestic market and

gradually increase its share in the commercial sectors with workstations and servers;  

The launch of consumer and commercial tablet computer lines should continue; Enhance share in mature markets through the home/retail channels and SMB (small



and medium-sized business) organizations; Increase mobile Internet presence



globally; Drive convergence including cloud devices, with attractive apps, targeting for the best experience to the ; and

•

Achieve ten percent share in emerging markets’ countries, with a focus on

SMB/consumers. For the year 2012-13, Lenovo should continue its "protect/attack" plan and supplement

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it with a new marketing plan that company will name "PC Double Plus." This refers to concentrating focus beyond company’s core business of PCs to other technologies such as mobile Internet and digital home. Competitiveness Indicators One easiest approach to compare Lenovo’s competitiveness with that of its competitors is to analyze its current performance in respect of sales, market share, and profitability. The company currently owns the second-largest global market share of PCs with yearly sales growth at thirty percent, but lacks in profit margins because of its competitors. Market Share At the end of 2012, Lenovo stood as the second-largest computer manufacturer by market share. It ranked ahead of Dell, and some reports even claim that sales of Lenovo have sured HP's. Lenovo global share continue to rise while those of HP and Dell have been shrinking. The research conducted by Gartner showed that, in its first-quarter 2011, Lenovo demonstrated the strongest growth (16.7 percent) of the top five global PC vendors such as Acer, Toshiba, HP, Dell, and Lenovo. Most analysts from PC Industry predict that Lenovo will overtake HP. Some recent studies rank Lenovo at 0.2% behind HP in respect of market share for PCs, and Lenovo's most recent figures show, it has sured HP. In China, Lenovo holds a commanding position. It is still the largest PC vendor in China. One of every three PCs that are sold in China is a Lenovo, and the company’s market share is more than three times form its near rivals. China represents forty two percent of Lenovo's global revenues. In United States and Japan, market share of Lenovo is relatively small. For increasing its sales volume the company should enter into t ventures with Japan's NEC and leading US software companies. This will help penetration in Japanese and US markets, with estimates at 24 percent market share for 2013. Currently

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Lenovo’s holds about 6% of U.S. market share, which it intends to raise to ten percent in the next two years (Gold, Leibowitz & Perkins 2013). Sales With Lenovo's market share growing rapidly that of its peers, its overall sales and revenue growth has also been increasing. In fiscal year 2011, the company projected sales of $21.6 billion, showing a year-on- year increase of thirty percent. The current advancement of Lenovo shows that company can achieve higher sales in European and Asian countries if it expands marketing network and also use direct marketing techniques along with other promotional tools (Ravenscraft & Scherer 2012). 3. SWOT Analysis of Lenovo Strengths

Weaknesses

1. The Lenovo products are of high quality and durable also; 2. The brand recognition and traditional of Lenovo products is encouraging; 3. Expansion in global markets with IBM in R&D, marketing strategy and production at reduced costs; 4. The diversification of products; 5. Possesses convenient and beautiful images 6.Efficient cross culture relationship and sponsorship

1. Single marketing channel, since the products are mainly available in monopolized stores; 2. A vast variety of product lines restricts the overseas expansion; 3. Product features are too less to choose; 4. Lack of Marketing resources and techniques; 5. Products are highly priced and not cheap

Opportunities

Threats

1. M&A of IBM led Lenovo to become the largest computer seller in the PC Industry; 2. Specialty business computer industry holds larger market share in the world; 3. Ability to penetrate in EU market such as , Italy, England ,, and Asian countries; 4. Division of products according to needs of people is possible

1. A large number of cheap products appear in the world 2. Imitation of Lenovo products is always possible; 3. Change in laws and tax regime of other countries can affect the sales; 4. A stiff completion from competitors in pricing and new added features can decrease the sales; 5. Fluctuation in foreign exchange rate can force company to reduce their profits;

as compared to Dell and Acer.

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6. Some countries may not encourage promotion of foreign brands.

4. Marketing Objectives and Strategies of Lenovo In 1964, American Marketing specialist, Boughton introduced the concept of marketing mix, which is an integrated activity that marketing executives comprehensively use and optimize the several controllable factors so as to achieve the marketing goals. A successful and comprehensive marketing activity refers to the appropriate products, the appropriate price, and the appropriate channels of distribution and the appropriate means of sales promotion by devoting products and services to a specific market. According to the marketing theory, we will introduce the following marketing strategies for the Lenovo based on their past and recent performance. Target Marketing Choice of Lenovo According to activities of competitors and for increasing its market share, Lenovo should consider the following factors while choosing target market: 1) Those cities where customers possess strong brand awareness and emphasize on quality and demand additional features in the products with little consideration of price factor. In the PC market, the influence of Lenovo brand will render comparative advantage, so selecting such target customers can fulfill the needs of such consumers. 2) Customers from Metro cities, who possess the high level of education, career oriented, and they are below 45 years. Marketers name this crowd highly influential crowd, since these people are conductive to high end product sales. 3) Development of rural markets where customers emphasize on using popular brands but such brands are not easily available. These consumers form a big purchasing power and they will buy the products if they are convinced regarding the quality and usability. To reach at

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such s and develop untapped market, Lenovo can organize free movies, cultural shows, participation in school and college activities as these activities will bring closeness and understanding of consumers’ needs (Boughton 1964). Market Position of Lenovo Lenovo’s marketing position primarily considers the three factors such as the high-end, middle end and middle-high end combination of products for optimum market positioning. Middle and high-end positioning not only provides the consistency in the market, also establish the image and status of Lenovo products in the consumer's mind. While the high end products largely influence the status of consumers, decline of profits cannot be ruled out while selecting only high end positioning. Thus the combination of high and middle end positioning will be the best option to balance sales as well as profits that will further enable to maintain competitive position in the market. In general, profits of high-middle end products are usually two to three times higher than low-end products and under the prevailing conditions of price war and increased competition, low end products do not offer guarantee of profits. Further, these products include features of low energy consumption. Low energy products are not only in big demand, but also represents the technical caliber of an enterprise; thus choosing low energy consumption products while positioning will certainly enhance brand image of Lenovo. The after-sales-service of Lenovo pushes the company in the back seat and narrows its position in the market. Such positioning will be further an obstacle to achieve competitive edge in the market until and unless Lenovo decides to establish after sales service centers in all those cities where the company markets its products. Michael Porter (2003) said, in the 21st century, only those manufacturing companies will succeed on an international level that can offer service industry for the

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satisfaction of clients. The rising economy is embedded with service economy, which means efficient and satisfactory service of the products and services is a key to competitive advantage. Thus, Lenovo should learn from the experience of DELL Computers as well as their other marketing techniques to capture the clients. Lenovo should offer more information on purchasing home computers, and after-sale service through web sites and other media channels. The focus of the customer has shifted from price and product quality to energy consumption, frequency and fast technology. So Lenovo's should decide positioning in the market according to demand and expectations from consumers, which will undoubtedly bring success for the Lenovo Company (Liu 2010). The Product Strategy of Lenovo The product strategy of Lenovo is chiefly the same as target market and positioning, comprising of following: Middle and High End Market Positioning While considering Lenovo’ PC as example, the market research shows that its refrigerators mainly cater middle and high end sector. Lenovo possesses 65% market share in high end products, while the middle end products for 40-50% market share, the market share of low end product rank lower than 10%. Different Competition of Product Development Through market segmentation, tapping s’ and exploring unmet demand will offer an edge over competitors in developing altogether different products from the market, which further enables to capture the prime share of the market. This statement holds true, which has been observed from the introduction of Lenovo’s products during the past three years. In

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2001, Lenovo introduced the ThinkPad, which not only satisfy the needs of consumers but also captured a substantial share of the computer market. According to the Distribution Channels and the Difference of Segment Markets, Develop and Design Targeted Products For the middle category, Lenovo should introduce comparatively low pricing for midlevel products, while high-end products incorporating all latest features should be made available at all retail sales channels. For the rural distribution, Lenovo must design and develop those products, which include simple functions, relatively low priced to cater the needs of the students market. Price strategy of Lenovo During past years, the production capacity of computer industry has increased tremendously, which caused IT companies to struggle for market share; thus leading to ultimate price war. Lenovo was also impacted, got entangled in this price war but did not reduce prices and demonstrated most vivid stand in PC industry. Lenovo rather concentrated on enhancing corporate image, increasing sales, expanding market share by creating differentiated products to meet requirements of different consumer groups, formulating differential prices based on features of products. This differential price strategy helped Lenovo to sail smoothly in the economy of excessive capacity. Lenovo’s price strategy is in accordance with the brand value, physical value, and incorporation of additional features of digital technology achieved with IBM merger. These features distinguish Lenovo from its competitors and establish an independent cognitive value in the mindset of consumers (Dowling 2005). Differentiation Strategy

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A differentiation strategy is based on persuading s that offered product is superior to that of competitors. The key benefits of differentiation strategy for Lenovo’s success would be: (1) The products will command a high price in the market. (2) Demand of its products will be less price elastic than that of competitor’s products. (3) Above average profits can be achieved. (4) It will create an additional barrier to new entrants in this business. Focus Strategy A focus strategy aims to target a segment of the market rather than the entire market or several markets. The major benefits of focus strategies are: It needs a low investment of resources when compared to a strategy targeted at whole market or many markets; it enables specialization and vast knowledge of the segment being served; Entry to a new market is less costly and much simpler. Lenovo adopts cost leadership as its development strategy, which share some features of differentiation strategy; thus the company derives competent advantage from differentiation and cost saving through its value chain. Its core competences are as follows: 1. Improved extended supply chain; 2. A cheaper price of PC through lower transaction costs; 3. Convenience and access for twenty-four-hours; 4. Brand recognition among customers; 5. Efficient and quick search capability; 6. Wide selection of models and one-stop shopping; 7. First mover in the market and ability to attract customers quickly than its rivals. Lenovo famous brand enables Lenovo stay well ahead in the fierce market competition. The company spends considerable amount on advertising budgets in

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order to maintain the competitiveness of Lenovo brand. Over the years, Lenovo brand render a deep impression on s’ minds and awareness of brand is actually the acceptance of Lenovo cultural diffusion. 5. Marketing Programs Sports marketing have been extremely beneficial in bringing awareness and establishing brand image of several products. According to sports marketing program, Lenovo’s strategy has been to take benefit of the global forum of the Olympics for boosting the global impact of the brand. On April 2003, the company converted the old logo Legend to Lenovo in order to open a door for international presentation and represent the company on international stage. Lenovo was chosen the first TOP in China, as a TOP sponsor in Olympics. This move was considered necessary since Lenovo started business and marketing activities in more than 175 countries and to improve their brand reputation although it was a desirable step but a risky move on their part. It was the first time during The Turin Winter Games when the Lenovo brand gained recognition in the overseas market. The marketing program of Lenovo was to focus on the Olympic Games, a specific event as a complement. For promotion of their products, Lenovo has produced special products with the Olympic logo, and designed Olympic themed ments to present Lenovo brand in public. During the Olympic Games, they created internet bars in Beijing so as to ensure all athletes can have easy access to the internet. Besides, Lenovo selected 15 athletes as Lenovo brand ambassadors to participate in Lenovo promotional events all over the world (Musthaler 2005). As a TOP member, Lenovo aimed to create a strong connection between customer and brand and was successful in creating a brand image to a large extent. During the games, the company designed several marketing strategies and programs to achieve success. One marketing program was to offer a wide range of technological resources that included

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offering hundreds of commemorative computer as well as on-line technical to more than five million customers. The company also provided Olympic remembrances medals to more than thirty million customers. Another marketing program was to offer 1500 Olympic free tickets and invited s to watch the competitions, visit Olympic stadium and test events, and other activities. At the same time, Lenovo also sponsored several events to become one of the Olympic torchbearers. Undoubtedly, these marketing programs were successful but involved a huge ment budget, which caused company to divert funds that were meant for other business activities. Moreover, the effect of an ment is over as soon as fever of Olympics is over (Wang 2006). The company can use several other platforms for marketing programs because Olympic is an expensive platform for Lenovo. The company should use multiple platforms to develop different strategies that suit a large number of audiences. For example, Lenovo can focus on football, F1, cricket, skiing, car racing and other winter sports competition by extending brand in Europe. The company also needs to focus on NBA in the America while in China; the Lenovo should go ahead with sponsorship of table tennis and bton. Lenovo must develop different strategies depending on characteristics of different regions. Thus, turning resources into sponsoring some events on international level that are smaller investments but yield more returns would be a practical and wise choice for the company because sports marketing programs obviously render a positive impact on the Lenovo Company.

6. Implementation and Control Lenovo Ability to Establish and Manage Efficient and Effective Distribution Network The company has shown its incomparable performance in of sales, growth and brand awareness in the World market, which has been possible with the implementation of

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4Ps such as awareness of product worldwide, competitive pricing by segmenting the market, promotional sports marketing campaigns with effective brand image. Among foreign and domestic IT companies, Lenovo has proved number one company with the efficient distribution network and supply chain management (McMillan 2005). For further expansion and implementation of market plan, Lenovo should expand network of distributors in international markets as well as domestic market, with each of the distributors appointing its own reseller network and service centers. This marketing approach will enable Lenovo to hit large number of audience. The company should also design a training program for imparting training to service personnel that will further build confidence of consumers in Lenovo PCs as well as service personnel will also have better knowledge of Lenovo products. Such distribution programs are only successful if they are ed by effective promotional campaign by the company. Besides, sports marketing on an international level, the company must encourage inexpensive channels of marketing such as sponsoring popular television serials, participation in sports and cultural events in schools and colleges, as well as actively participation in charity programs organized by different communities. Thus, the ability of building and managing huge distribution and marketing network and consistently exploring new markets would add as an additional source of Lenovo’s competence.

7. Marketing Budget

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pounds in millions

1st quarter

2nd quarter

3d quarter

4th quarter

Year total

15,000

15,000

15,000

15,000

60,000

7000

7000

7000

7000

28,000

Advertising

10,000

10,000

10,000

10,000

40,000

Events

8,000

8,000

8,000

8,000

32,000

Billboards, print materials

12,000

12,000

12,000

12,000

48,000

Open new stores in capital cities of BRICS

40,000

40,000

40,000

40,000

160,00

92,000

92,000

92,000

92,000

368,000

Marketing budget Market research Internet marketing

Total expenditures

Marketing budget has been calculated for one year and should be implemented in an effective manner, since technologies grow very fast these days. Total budget sum needed is 368,000 million pounds. Main parts of budget are Open new stores and Market research 160,000 million and 60,000 respectively. First stage of budget will be Market research after all parts of budget will be implemented after research will be produced. References Boughton 1964, Strategically Marketing. Renmin of China University Press.

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Chen, Y 2006, Global brand's marketing communication research - a case study of Lenovo PC, master's thesis, Graduate institute of communication, Shih Hsin University, Taiwan. Dowling, D 2005, “PC Compatibility: IBM, Lenovo Staffs Mesh”, Workforce Management, Costa Mesa, Vol. 84, No. 1, pp. 15-16. Gold, A, Leibowitz, G and Perkins, A 2013, A computer Lenovo in the making. McKinsey Quarterly, Vol. 3, pp. 72–80. Hamm, S 2005, “A Lemon For Lenovo?” Business Week, New York, Feb 21, No. 3921, pp. 13-15. Khanna, P 2005, “IBM sells its personal computing business to China’s Lenovo”, Computing Canada, Willowdale, Vol. 31, No. 1, pp. 6-7. LIU Xiaolin 2010, Research on the Development Strategy of Chinese IT Enterprise’s Marketing --A Case of Lenovo Group. Financial Sector (Academic), (4), pp. 38-43. McMillan, R 2005, “IBM, Lenovo Executives Outline Plans”, Computerworld, Framingham, Vol. 39, No. 10, pp. 20-22. Musthaler, L 2005, “Reconsidering the IBM-Lenovo deal,” Network World, Vol. 22 No. 34, pp. 31-33 Ramstad, E 2005, “Tracking the Numbers / Outside Audit: Has Lenovo Group Really Spun Gold Out of IBM’s Chaff?” Wall Street Journal (Eastern edition), New York, Aug 24, 2005, pp. 1-3. Ravenscraft, D and Scherer, F 2012, Mergers, Selloffs, and Economic Efficiency, Washington, DC: Brookings Institution. Porter, M 2003, Competitive Strategy, Simon& Schuster Press Yang, Y 2010, The product strategy of the Lenovo, Economy Journal, 8(1), WANG Xiao (2006). Selection and Its Enlightenment of Cultural Arrangement Pattern in Transnational Merger and Acquisition of Chinese Enterprises Lenovo Group Mergers and Acquisitions to IBM PC Division For Example. Journal Of Yunnan University Of Finance And Economic, (4), pp. 35-39.