Published on April 14th, 2015 | by Louella Fernandes0
The Reinvention of Lexmark
By Louella Fernandes • on April 14th, 2015 • in Articles • 4,105 views • No Comments
Lexmark’s new brand identity marks its strategy to establish its credibility as a serious player in the enterprise software market.
Lexmark has had a remarkable journey over the past few years, moving to a leadership position in the highly competitive managed print services (MPS) market. Its success has been due to a number of factors, in particular its vertical industry expertise, its customisation capabilities and its ever expanding software portfolio.
Since exiting the consumer inkjet business in late 2007, Lexmark has been undergoing a transformation from a hardware-centric to a solutions-centric company. As well as increasing its focus on growing its thriving MPS business, Lexmark continues to expand its enterprise content management (ECM) and BPM offerings. This was instigated with its acquisition of Perceptive Software in 2010 which has been followed by 12 additional acquisitions geared to help Lexmark remove the inefficiencies of information silos and disconnected processes for its customers. These companies are also rapidly adding to Lexmark’s deep industry expertise and delivering a competitive advantage against many of its traditional vendors.
Its new brand identity signals a new era for Lexmark. It has departed completely from the red and black logo, noting that red logos are often represented by its traditional hardware-centric printer and vendors such as Canon, Toshiba, OKI, Ricoh and Xerox – many of which have already moved to create successful MPS businesses. By selecting a green logo, Lexmark is looking to change the perception of it as a hardware company, signalling a rebirth and a company position that is poised for growth. The colour green is also a reflection of Lexmark’s longstanding commitment to sustainability.
Quocirca believes that the timing of this change is critical to Lexmark’s reinvention strategy. For some time the Perceptive business and Lexmark’s ISS business have been separately branded businesses – now the two will be unified under one new brand identity, drawing better synergies in its go to market strategy. As its MPS business further develops and enterprises look for broader business process improvements, Lexmark is well positioned to deliver a cohesive strategy by better marketing integrated products.
Lexmark follows in Xerox’s and Ricoh’s footsteps as a vendor keen to dispel the legacy perceptions of a hardware company and move to a solutions and services provider. Lexmark has taken its strategy a step further with a complete overhaul of its brand identity and it will of course take time to change perceptions.
Nevertheless this is a step in the right direction and as the more vendors play for part of the BPM pie, it will help it set out its stall as a serious contender with a broad and proven set of products and services to support its strategy.