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Lenovo's Market Segmentation Strategy

The Lenovo brand needed to find a market for its high$-$priced foldable PC that would be released In mid$-2020.$ To do this, Lenovo needed to engage in market segmentation. "Segmentation" is a term that marketers use to describe the process of identifying consumers who represent the best opportunities for sales of a given product. Most brands offer benefits that will appeal to a relatively small group of consumers. Identifying the right market segment for a brand and developing integrated marketing communication $($IMC$)$ messages that will communicate brand benefits in a clear way are the central goals for any marketer.

The goal of this activity is for you to demonstrate your understanding of the market segmentation process and the considerations of a marketer whose responsibility it is to identify an applopriate market segment.

Read the case of Lenovo below and then answer the questions that follow relating to market segmentation.

In early $2020,$ Lenovo announced that it would soon release a new product touted as the "world's first foldable PC$,"$ its ThinkPad X$1$ Fold. As a new and untested product, many tech experts were surprised to see that the ThinkPad X$1$ Fold would be introduced at such a high price of $$2,499\mathrm{.}00.$ Despite its high price, the laptop has many features that make it an attractive option for consumers, including its portability and light weight, as well as the ability to utilize a mouse and keyboard with the device. These features seemingly make this a device that has the ease of travel like a tablet, but with the functionality and capabilities of a laptop or desktop. However, as a new piece of tech at an extremely high price, Lenovo's major issue would likely be identifying appropriate market segments for this product.

Traveling businesspeople and artistic graduate students typically don't have much in common. Lenovo, through its research, found that the desire to work from anywhere was an attribute commonly shared among most members of its target market. Discovering this is an example of finding