HP Marketing Strategy – Marketing Strategy of HP: The company was established in 1939. HP is now recognized as a global player that provides IT services and services to every and every part of society, whether individuals, customers or small and medium companies, private or public organizations.
It offers a variety of enterprise-oriented products within its range of collections that includes software and hardware solutions. in 2015, it divided HP Inc into two publicly traded entities, namely HP Inc. and Hewlett-Packard enterprise, the latter will be forming an entity separate from the printing business and PC.
HP At A Glance – Marketing Strategy of HP
Company : Hewlett-Packard Company
CEO: Enrique Lores
Founder: David Packard | Bill Hewlett
Year founded: January 1, 1939, Palo Alto, CA
Headquarters: Palo Alto, CA
Annual Revenue: 56.64 billion USD
Profit | Net income: 2.84 billion USD
Number of employees : 53,000
Products & Services: HP produced lines of printers, scanners, digital cameras, calculators, personal digital assistants, servers, workstation computers, and computers for home and small-business use.
Competitors: Lenovo | Apple | Dell | Samsung | ASUS | Acer | IBM | Sony | Toshiba | Microsoft | Epson | Capgemini | Wipro
HP Fun Facts: Hewlett Packard is a combination of the names of the two founders, the order of the names came up as a result of a coin toss! With both the partners being undecided on the name, a coin toss was used to declare the order of the name. In the end, Hewlett won the toss, giving him the privilege of having his name in the beginning!
Marketing Strategy of HP
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Segmentation, Targeting, Positioning – HP Marketing Strategy
HP is a brand that is well-known for its printers and computers however, with regards to the whole company, they’ve employed characteristics and geographical segmentation variables to cater to the requirements of both corporate and retail customers.
targeting is among the key pillars in the marketing strategy. HP utilizes the differentiating target method to supply customized products and services to businesses.
HP employs a combination of value/product as well as price basis position strategies to stay ahead of HP’s marketplace.
HP Mission Statement
“We earn customer respect and loyalty by consistently providing the highest quality and value.“
HP Vision Statement
“To create technology that makes life better for people/ community around the globe”.
Competitive Advantage – HP Marketing Strategy
The diverse product range for both corporate as well as consumers who are retail comprising personal computers, related items, and printers.
Data analysis, as well as Software development networks and IT infrastructure designed for enterprises, are helping companies earn revenue by providing the full range of services and products in one place.
The strategic acquisitions and acquisitions, such as those made with Compaq Computer Corporation, Indigo N.V., Snapfish, Dynastar, Pixaco, lefthand networks, and many more are aiding HP by utilizing the latest technologies and resources that these firms bring to them.
BCG Matrix – HP Marketing Strategy
HP’s Personal computer, as well as Printing and imaging-related products, are companies that star on BCG’s BCG matrix.
The business solution provided by the company, including network infrastructure software services as well as data analytics and IT support systems, are also highlighted on the BCG matrix because of having such a diverse range of products.
Distribution Strategy – HP Marketing Strategy
HP uses a variety of delivery channels to provide its services and products available to customers.
Stores, showrooms, authorized and service centers and directly selling channel OEM’s (Original manufacturers of equipment) and resellers help the company make the products and their services accessible to the final client.
Brand equity – HP Marketing Strategy
With such a strong brand image and perception of top-of-mind (TOMA), HP leads in the market. The world’s biggest PC manufacturer cooperates in partnership with GMR Marketing Co. to enhance its brand’s visibility by the sponsorship of various events in addition to events that are taking place across the globe.
Competitive Analysis – HP Marketing Strategy
HP competes with other major corporations in similar business areas on different levels, such as technological innovation, product portfolio depth the network and IT infrastructures, accessibility of sources, branding, distribution channels, and keeping the talent pool HP can draw from.
To remain competitive, HP continually adjusts the prices of its products and services.
Numerous companies with a long track record like IBM, Samsung, and many more have a lot of competition with HP in different product or service segments.
Market Analysis – HP Marketing Strategy
The market is saturated with a multitude of big and small businesses like MNC’s, which take over each of their market shares as well as making it hard for companies to survive in the marketplace that offers products and services with limited time frames. The market for each of the segments of a business like HP is huge and often HP must compete with its company’s OEM partners in various sectors of business.
Customer Analysis – HP Marketing Strategy
HP has a range of products that focus on satisfying the requirements of individual customers as well as companies. HP serves the needs of businesses ranging from small and medium-sized enterprises through private businesses to public institutions.
This is the Marketing Strategy of HP. Please let us know if you have additional suggestions to add.
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