HP is a well known Laptop brand in the world. We all surely have used a HP laptop once in our life. Trusted for its quality and service, H.P has become an established information technology company in the world.
The company has created a strong position in the industry by bringing innovation and affordable products for the consumer.
This article will let you know a deep insight of H.P business model and marketing strategies used by H.P that make it one of the top and trusted companies in the information technology industry.
Company’s Brief
H.P or Hewlett-Packard is a multinational information company founded in 1939 by William Hewlett and David Packard. The name has been taken from the first letter of their last name “H.P”. The company is based in California and today they are operating in around 165 countries around the world. The company launched its first computer in 1964 since then the company has brought many successful models in the computer and laptop range. Company won its first contract in 1938 from Walt Disney, which made the creation of H.P what we see today.
Financials
H.P has reported revenue of $62.98 billion in the F.Y 22, which is a tremendous amount for any information technology company. Recently, in the first quarter of 2023 the company has registered a revenue of $7.8 billion more than 10% increase on YoY basis.
Marketing Strategies
H.P Marketing Mix
Marketing mix can be termed as collective actions taken by company to promote its product, service or brand in the marketplace.
1. H.P Price Strategy
Everyone is interested in knowing the price of the product before anything. As it is the ultimate thing that will decide whether to go for that product or not. HP offers its products not only to B2C customers but businesses too.
Company has different platforms for distribution purposes as the order can be placed through stores, online through e-commerce or directly from the official website. One can buy from the authorised dealers or vendors of H.P.
Company creates a good balance between the price and value bridge. It sets the price right for the amount of value it offers to the customer. It ensures that best quality is offered to the ultimate user with an affordable price. The company offers a wide range of products based on the purpose.
2. H.P Promotion Mix
Promotion strategy aims at promoting the product of the company to increase its sell and make the consumer aware of the product. H,P has launched “One VOice” initiative to promote its brand. Promotional activity can be conducted through multiple channels available with the company to advertise the product.
H.P has tied up with many companies to promote its product in the marketplace. Company has also sponsored some events including sports clubs like “ Premier League Club’ for promotional activities.
3. Place Mix
The company offers its product in multiple nations in the world. H.P has established a well managed and robust channel distribution to make its product available in the market at the right time. H.P products can be bought from different places like official websites, authorised dealers, vendors, e-commerce platforms. Company has a large market size and targeted audience in the marketplace. It offers products for different purposes for different classes of customer. From students to businesses to government.
4. Product Mix
H.P offers a wide range of products to the users which includes printers, computers, laptops, scanners and many more. Company brings innovation and new tech build features to their products giving in to the customer’s expectation. H.P offers reliable products with better performance assurance and durability.
This makes the company one of the most trusted brands in information technology products.
Product Differentiation
H.P creates a product differentiation advantage which helps it to grow and increase at higher rates. Product differentiation creates a value for the company among the targeted customer. What makes the company different is the product it offers.
H.P while delivering the customer, ensure that customer must be provided with the best quality embedded with innovation and durability. Company adds tech based features and new models to match the customer requirement with latest trends and help to enjoy the benefit of product differentiation.
H.P’s Marketing Campaigns
As marketing is said to be a game changer for any company, it means for H.P as well. H.P has launched many marketing campaigns and initiatives were taken to promote its brand and products.
Work Happy Campaign
H.P launched a work happy campaign where it shows a change in the way of work and old worklife of the world with new.
Keep Reinvesting
The campaign aims to depict the value company was offering from last decades and bringing the best to the customer through its product and service.
Bend the Rules
This campaign was aimed to promote the H.P pavilion laptop in 2016. The company encourages people to challenge convention and embrace freedom.
The Wolf campaign was launched by the company in 2015 to keep customers aware of cyber security frauds from hackers. It aims at safeguarding the system and data of the public from hacking.
H.P Partnerships
To promote and expand its distribution channel, H.P associated with many retailers and educational institutes, other companies to increase the market reach.
BCG Matrix in HP
Company offers a broader portfolio of computers, laptops, printers and other products. It Can be seen in the company’s BCG matrix.
Competitive strategy
Information technology industry has tough competition in the market. H.P competes with other top players in the market with its surefire competitive strategy of bringing tech ad, innovative, affordable and good branding strategy. The company offers the price as per market sentiment and to stay competitive in the market.
Competitive advantage
Company has a wide range of customer base and offers a long diversified products and service portfolio to the customer. Company adopts the latest trends and technology with a significant IT infrastructure and distribution network which gives a company a strong competitive advantage among the other players in the market.
This is the marketing strategy adopted by top leading information technology player H.P to stay in the competitive market and keep the trust among the customers. Effective product mix of product, price place and promotion helps companies to bring the best for the customer. A good marketing campaign for the society in general brings the feel of trust to the company. Along with all this a good customer- supplier relationship, efficient distribution channel and combination of other marketing tactics bring the company to the top of the information technology field.
Conclusion
Indian and world wide market in information technology is increasing as the world is depending more and more on IT products and infra. H.P. stands with the market trends and offers the best quality products to the targeted audience.
Disclaimer: This article is for informational purposes we do not promote any company, product or service through the article.
