Marketing Strategy for Nokia

Discuss about the Marketing Strategy for Nokia.

Nokia was the unprecedented leader in the mobile telephony for decades together but exists no more due one sole reason, they failed to innovate and could not understand the market demand and upcoming competition which came in the form of Apple IPhone and Google Android. It all started in the year 1986 when Nokia launched its first portable mobile phone.

In 1992 company launched its first GSM handset with this the famous Nokia tune was first rolled out in 1994. By 1999 nokia had becoming the market leader with more than 80% market share. It was all going well Until Apple launched its first iPhone in 2007 and subsequently Google launched its operating system Android and Samsung Adopted and flooded the market with devices to which nokia couldn’t respond in a way it should have and finally in 2013 Nokia’s Handset division was taken over by Microsoft which marked the end of the historic company.

Mission:

Organizations develop mission statement to guide employees in a particular direction, mission statement of the organization acts as an invisible path where company wants to walk.

Nokia’s mission is simple CONNECTING PEOPLE by developing the products that enable billion customers to enjoy what it offered in an increasingly dynamic and competitive environment. (Nokia, 2015)

Vision

“To be a good corporate citizen wherever we operate, as a responsible and contributing member of society. We take part in long-term projects aimed at helping young people create their own place in the world.

Being a good corporate citizen means meeting responsibilities towards individuals, the environment, and society in general.

Objectives:

To guide and focus decision making process in the organization.

To strike the balance between the interests of stakeholders and to motivate and inspire organizational members.

Customers are the greatest priority and our success depends on delivering the great value and experience by developing the products that are of superior quality and which appeal the audience (Kotler et al, 2010). 

Marketing strategies for any organization are derived after the careful analysis of 4p’s and Segmentation, targeting and positioning

Marketing Mix

Product: The main element in any organization is the product offering, in case of Nokia the main products they deal are the phones. Mobile phones can be divided into three basic categories Basic phones, multimedia phones and smartphones. Nokia has devices in all the categories and the products they offered are always known for its reliability and durability.

Price: The only element in the marketing mix which brings revenue for the organization is the price. All other elements require money for production, for distribution, for marketing only price through sales brings revenue for the survival of the organization. For Nokia price was the main factor in capturing the market as it had products in all the price ranges.

Place:  Making the product available through extensive Distribution is one of the main factor in successful execution of the marketing strategy, Nokia had a huge infrastructure network when it comes to distribution and the products were available at every nook and corner of the world (Kotler et al, 2012).

Promotion: To facilitate the consumer decision making process continuous communication is required in order to convert the prospective customer into a customer and thereby promotion plays an important role by communicating about the product features and other various aspects which help consumer take a purchase decision. 

STP

Segmentation: Dividing the population into strata’s according to various segmentation styles like demographic, psychographic, behavioral, socio economic etc. Nokia used various segmentation styles such as age, income, lifestyle, education. Through its effective segmentation nokia abled to develop products which appealed huge market. Since its planning to come back it may use the existing segmentation to target effectively (Lindholm et al, 2013).

Targeting: after segmenting the markets into a homogeneous group it becomes easier for the organization to target the right kind of customers. Nokia targeted all kind of customers from youth who wanted products for various purposes like media access, business class who wanted business functionality and long battery life, for camera lovers by offering world class cameras and created a customer base which was largest in the world.

Positioning: positioning is what we do the mind of the consumer to attain a position which favors the product, positioning is important for any organization in order to create brand image which later helps in building the brand equity through association and leverage that to charge premium. Nokia through its continuous product innovation and communicating effectively created very a strong brand whose loyalty still exists even after the products are no longer available in the market. Hence effective positioning is what will keep nokia going (Sheehan, 2011).

Since nokia is planning to launch its devices again into the market again this year it has to make a very effective marketing strategies in order to capture the market back. Earlier marketing strategy will hold well in most of the cases just right products should be communicated in the right way to the consumer. 

References:

Sheehan, B. (2011). Marketing management. Lausanne, Switzerland: AVA Pub.

Kotler, P., Armstrong, G., Saunders, J. & Wong, V. (2012). Principles of Marketing, Cambridge, Prentice Hall Europe [Online] Available at: http://link.springer.com/chapter/10.1007/978-1-349-13389-5_7 [Accessed 19 Sep. 2016].

Kotler, P, Keller, K.L., Koshy, A. and Jha, M. (2010), Marketing Management: A South Asian Perspective, New Delhi, PHI, 14th Edition. p. 248-253.

Nokia, (2015). Nokia | Nokia. [online] Nokia. Available at: http://www.nokia.com/en_int [Accessed 20 Sep. 2016].

Lindholm, C., Keinonen, T. and Kiljander, H. (2013). Mobile usability. New York: McGraw-Hill.

 

MyAssignmenthelp.co.uk has emerged as the one-stop solution for all students who are in search of professional thesis help. We not only help students in producing impeccable thesis papers, but also provide complete thesis writing help starting from the selection of topics, researching the topics, structuring the paper and finally writing it. So no matter what problem restrains students, our thesis writing services will always be the perfect answer for students.