1. Executive Summary
2. Introduction
3. Internal Analysis of Nokia
3.1 PESTLE Analysis
3.2 Porters Five Forces
4. Analysis of Current Strategies
5. Recommendations
5.1 Ansoff’s Matrix
5.2 Marketing Strategy
5.3 Segmentation, Targeting and Positioning Strategies (STP)
5.4 Objectives
5.5 Analysis of Marketing Mix (7Ps)
5.6 References
6. Appendices
6.1 Appendix A
6.2 Appendix B
6.3 Appendix C
EXECUTIVE SUMMARY:
This report analyses the current situation Nokia is facing within the industry internally and externally. In order to come up with some important strategies and improvements to enhance the product against its big competitors, this report will go through aspects of Porters five forces, SWOT analysis, Marketing variables and core competences to attract more customers in a market where the players have already a major position. Recommendations was included that could definitely make Nokia very profitable in Trinidad.
INTRODUCTION: Nokia is a leading mobile device manufacturer globally. The communications sector in has transformed into a multi-player and multi-product market that has diverse market size and segments. In order to compete in the Trinidad’s market, Nokia needs to develop a marketing plan which will give them the idea what factors to be considered while in the mobile sector. The marketing plan includes all the factors that need to be undertaken. They are market analysis, SWOT analysis, environmental analysis, customer analysis, internal and external factors.
The mobile market is growing rapidly and has good opportunities for new entrants to enter market and gain market share. Though there is much opportunity in this market, there are some threats such as threat from existing competitor, high customer churn rates, etc.
BACKGROUND OF NOKIA:
Nokia was incorporated by Fredrik Idestam’s on the banks of Nokianvirta river in 1865. From its incorporation to till date Nokia had gone through four phases . Nokia started as a paper mill company and by 1967 merged with cable company and rubber enterprise to place Nokia in to electronics. Between 1968-1991, it was positioned to take initiative in the advancement towards mobile communications. During the period 1992-1999, Nokia concentrated primarily on its telecommunications unit and became market leader before the start of millennium. In the last decade, Nokia continues to be the market leader with 3G, mobile gaming, multimedia devices and with future challenges to be achieved.
Part 1 Analysis of current situation
Part 1 is dedicated to analyse the company’s position in the Trinidad market from the perspective of macro, micro and internal factors that have an overall influence on Nokia’s performance.
1.1 Macro Environment Analysis
To analyse macro environment of Nokia PESTEL method was chosen to identify different environmental pressures that may influence the company. However , the main weakness of the analysis is that PESTEL reflects the reality only at a particular moment, not providing further implications.
POLITICAL
Factor
Effect on the industry
Implication to the company
Opportunity/Threat for the company
Stability of the existing power
Trinidad is a politically strong country where any radical changes in political doctrine are not going to take place.
Nokia is a able to plan its activities confidently.
Threat (Low)
Policy of Protectionism
The Government created fastforward, the National Information and Communications Technology (ICT) Strategy for Trinidad
This is great for Nokia since this encourages growth for the country therefore Nokia can take advantage by helping with technological growth.
Opportunity (high)
Economy
Not in a Recession
This is good for Nokia since the economy is improving for businesses
Opportunity (high)
Inflation Rate
Drop to 6.9% this year from last year December 8.9%
Great news for Nokia the lower the rate of inflation the more citizens would be able to spend
Opportunity (high)
Unemployment Rate
Drop to 4.9% this year compared to 5.4% last year
The lower the rate of unemployment the more money citizens have to spend.
Opportunity (high)
SOCIAL FACTORS
Population
Increase from 1.29 in 2000 to 1.35 in 2013
The increase in population means increase demands for cell phones
Opportunity (high)
Fashion
Fashion has a really important impact in the industry. The trends are changing and people are demanding innovation.
Once Nokia can keep up with the fashion and continue to create phones with innovation they can take advantage of the market.
Opportunity (medium)
Social Patterns
Development of new social patterns where the sustainable progress is required affects the industry outcome.
Customers follow patterns therefore this will be an opportunity for Nokia if they get into consumers’ minds.
Opportunity(Medium)
Social factors are driven by the new trends; changes and lifestyle make Nokia look for different approaches in order to meet the requirements of the demands.
TECHNOLOGICAL
Technology Development
Technology has significantly improved in Trinidad and the country is up to date with the latest technology.
Nokia since up to date with vast technological changes can use this to their advantage to capture the market.
Opportunity (high)
E-Commerce
This type of selling is moving like the speed of light in Trinidad. The Business Development Company had a seminar on E-commerce and offered a remarkable deal.
This is Great for Nokia now customers can buy their phones online and get feedback via internet.
Opportunity (High)
Telecommunications
Main service providers Bmobile and Digicel
Nokia has to have good relationship with the both companies since they are the main sellers of their products.
Threat (high)
LEGAL
Laws and Regulations
Trinidad and Tobago is a Free trade country
This is Favourable for Nokia
Opportunity (high)
Laws against using cellphone and driving.
Need to have handsfree devices to talk on
This can be negative if Nokia do not have devices that are handsfree
Threat (high)
ENVIRONMENTAL
Corporate Social Responsibility of environment protection.
In Trinidad both service providers are promoting good corporate responsibility and environment safety.
Nokia also currently making eco environmental phones.
Opportunity (high)
SWOT ANALYSIS
STRENGTH• Largest distributor of mobile phone in mobile phone industry.• Highly qualified personnel.• User friendly with many accessories.• High re-sale value compared to other brands of mobile phones.
6. WEAKNESS• No promotion undertaken to target the lower class of the society.• Poor after sales service.• Very few service centres.
7. OPPURTUNITIES• To expand with a wide range of products, features and different price range to suit different people.
8. THREATS• To maintain the position as one of the best in the market because Apple i-phone and devices running on Googles Android operating system have come to stand of tough competition with Nokia.• Cheap phones, advanced features and good after sales services.
PORTERS FIVE FORCES
Competitive Rivalry
Currently the competition in the mobile phone market in Trinidad and Tobago is very high with many mobile phone manufacturers such as Samsung, LG, Blackberry a major competitor because of Blackberry messaging, I phone and other new brands. This industry will always be at a fast pace as technological advances is never ending; therefore Nokia will have to ensure that they are the first ones to introduce new technology to be very competitive.
THREAT OF NEW ENTRANTS
In the mobile phone market in Trinidad and Tobago there is constantly a threat of entrants that could change the current climate of the phone industry. Right now Nokia has a lot of threats due to increase in new mobile phones entering the market and with a lot of features at a cheaper price. For example Blu and Ice.
THREAT OF SUBSTITUTES
As technological improvements today are at a fast rate, there is always a threat of products that could eliminate the usage of mobile phones. The increase use of computers with Skype that is free also pocket PC’s, Tablets, Netbooks and Laptops can be a great threat as substitutes in phone industry.
BARGAINING POWER OF SUPPLIERS
The Bargaining power of suppliers who are the mobile network operators (MNO,s) being the third party suppliers is relatively low. This is because the MNO,s industry is fragmented and vertical integration is difficult. (Shah, N. 2010).
BARGAINING POWER OF BUYERS
The Bargaining power buyers have over Nokia is very high because of the competition in the mobile phone industry and especially the smart phone market is intense because the buyer will only need a mobile phone that caters to their needs, so even if Nokia produces products that has all the applications and personalisation, if the customers does not need that they will not pay a premium price. As well as this, buyers will seek for the more and more features in their mobile phones so if Nokia manufacturer does not produce these features and another does the buyers will move to the competition. The only way Nokia can have power over its buyers is to produce the next mind blowing and innovative product that no other mobile phone manufacturer will have.
Nokia Current Marketing Mix in Trinidad and Tobago
The 4ps
PRICE
The price of Nokia phones are too high compared to the new brands that are being introduced in the market and these phones not only cheaper but has more features than Nokia.
PLACE
Currently Nokia depends on the two Mobile network service providers BMOBILE and DIGICEL to sell their phones, this is a big disadvantage for Nokia because these companies promote and sell phones according to their likeness.
PROMOTION
There is lack of promotion for Nokia phones in Trinidad and Tobago, they only depend on the mobile network service providers to promote their phone which is a main disadvantage for Nokia.
PRODUCT
The product line for Nokia is in a good position because they built a reputation in the minds of the consumers because they were the first brand of phones Trinidad and Tobago had and most consumers was impressed with the product. However warranties are poor here since the mobile network providers give short guarantees and take long to replace or fix customers phone which can be demotivate
CONCLUSION
As Nokia is the leading manufacturer of mobile phones whole over the world. It will be easier for Nokia to attract its existing customers in Trinidad because of the past image they built in the consumers. Nokia maintains distinctive advantage over their current and future competition without patent protection But on the other Hand the products from the Finnish company, Nokia, are some of the very best in the world, but the company still hasn’t found a profitable way to market its goods. The very reason that other mobile phone companies are fast eating up Nokia’s market share is their superior (yet simple) marketing practices. IPHONE and Samsung must now be in the FUW (frequently used words) list in Nokia’s board meetings. These companies have made Nokia pay dearly for its undeveloped approach in marketing its phones. The aggressive marketing practices followed by Samsung have hit Nokia very hard and it is losing very crucial global market share every month to its American competitor .Hence if Nokia doesn’t take much care of this matter he will face tough time in the Future.
RECCOMENDATIONS
Ansoff’s matrix, although originally published in 1957, is still widely used today owing to its simplicity and ability to provoke strategic thinking. Ansoff’s Matrix not only allows an organisation to understand opportunties for growth in its market, but also provides a means of assessing market competitiveness.
Nokia can use Product Development.
This strategy encourages an organization to either sell new product ranges or modify and improve existing products in its existing markets. This strategy assumes that an organization and/or its products have, to some extent, customer loyalty and it is the loyalty that the organization hopes will encourage existing and potential customers to buy new versions of the product. In Trinidad and Tobago competition is high within the mobile phone market therefore Nokia need to introduce new products with up to date innovative features to capture the markets. Secondly by improving features on existing products and advertising so consumers can be aware of the products would help them grow rapidly.
SEGMENTATIOTION
Segmenting the market carefully, it can be suggested to capture the attention and target the lower, middle and upper class. This is good for Nokia since their phone prices are not for just one segment of the market, they have prices that can target each of the classes. Also they can also use Business to Business markets. B2B tend to be fewer in number, will usually make high value purchases and rely upon a group of people or the decision making unit to purchase a product. B2B can be good for Nokia in Trinidad’s market because of the increase in companies in the Oil and Gas sector, in this case they can use premium price and sell their new line of smart phone Lumia to these companies since technological advance phones would be vital in this field.
TARGETING
Nokia can use Differentiated targeting .
This is treating every segment differently. Although this may be more expensive and time consuming this approach is more likely to lead to greater customer satisfaction within the segment. Each of the segment in the Trinidadian’s market Lower, Middle and Upper class would appreciate different treatment and thus have a competitive advantage since not all the competitors would do this.
POSITIONING
Firstly Nokia can position itself as a good company with Corporate Social Responsibility (CSR). They are currently embarking on products (mobile phones) that are eco-friendly and this can put them in a good position in the Trinidadian’s market since the country is looking at more eco-friendly products thus making their product stand out in front the other products.
Secondly, Positioning itself as a customer care company, offering high quality phones and setting up service centers around the country to deal with problems or defects that the phones may have. They can also have high class after sales services both online and offline, so confirming the mission and vision of nokia.
MARKETING OBJECTIVES
The acronym SMART to define objectives is well known. The problem is when you know only the translation of each letter, but does not develop a broader meaning of what exactly the concept really means. Therefore, what are we really doing when we talk about SMART Marketing Objectives.
SPECIFIC
By defining an objective, do not leave room for doubtfully interpretations. The more detailed the objective, the better the understanding and the more likely to be achieved.
MEASURABLE
“ONE CAN NOT MANAGE WHAT ONE CANNOT MEASURE” any objective that cannot be clearly transformed into a number allows the manipulation and interpretation fpor interested parties deem it reached or not.
ACHIEVABLE
The objectives should always be aggressive but not impossible to achieve. It is important to launch a challenge for the team and fight for something that it appears to be difficult, but this is very different to define numbers that can never be obtained, causing frustration and discouragement.
REALISTIC
Often the objective is possible but unrealistic. Considering the realism, one should consider factors such as:
Does the team agree to pursuit the aim?
This objective is aligned with the vision and mission of the organization?
Any ethical principle is touched with this objective?
TIMELY
This feature is mixed sometime with (Specific). Means that in addition to clearly define the beginning and the end of the period should not be so short that it makes impossible to achieve and not too long causing a dispersion of the initiative over time.
SMART Objectives
Hollensen (2010) define objectives as the “specific performance targets that firms aspire to in each of the areas included in the firm’s mission statement”. Objectives are described as SMART (specific, measurable, attainable, realistic and timely), and are classified as quantitative and qualitative:
Quantitative Objectives are expressed in financial or economic terms. They include revenue, profit and market share objectives respectively:
To achieve a revenue of $TT 1.5 million by December 2013.
To earn profits of $TT 2 million by December 2013.
To increase market share in Trinidad from 0% to 10% by December 2013.
Qualitative Objectives are intangible and not expressed numerically.
To increase awareness of Nokia’s brand of cell phones in the Trinidad market from 1% to 30 % by December 2013.
To retain existing customers
To become the most eco-friendly cell phone manufacturer in Trinidad.
To expand or defend Distribution
After defining the mission and objectives, Nokia can proceed with their market plan for entering Trinidad’s market.
Analysis of Marketing Mix (7Ps)
The marketing mix is a set of controllable tactical tools- product, price, place, promotion and the extended service elements of people, processes and physical evidence- that the firm integrates to produce a desired response to the target market (Kotler and Armstrong, 2008:50). It is based on and incorporates with Nokia’s overall strategy of Product development by identifying tactical level strategies for each element of the mix:
PRODUCT
A Physical object that may also include warranties, branding, design and level of quality.
With reference to the Ansoff’s Matrix Nokia is going to use Product Development. Therefore they would either sell new products or modify and improve existing products in its existing markets. Nokia products need to be equipped with the latest technologies and able to work faster than all the other smart phones to compete with their rival competitors and to ensure they keep their loyal cutomers. They need to be stylish and compete with the other products. They need to continue to make products that are reliable and durable since in the past Trinidadians were very pleased with the products Nokia sold, they were long lasting therefore they need to keep their brand name popular.
Kotler and Armstrong (2008:219) explain that there are three levels of products or services that are taken into account and value is added at each level:
Core Benefit level: the core benefits of Nokia phones are to meet the needs of customers and let them be pleased with the price and features of the phone.
Actual Product/Service level: the services are developed by adding features for example Nokia’s reputation for long lasting batteries no other brand could compete with a Nokia battery.
Augmented Product/Service level: additional services and benefits are offered, such after sale service also allowing them discounts when they revisit to buy Nokia brands.
PRICE
Currents the prices of Nokia’s phones are too high to compete with the new phones being introduced in the Trinidad’s market. After segmenting the market the lower class had a high target market therefore Nokia needs to reduce their prices to capture that large part of the market and once this is successful it can be very profitable for Nokia. Secondly middle income earners would appreciate any reduction in the price that would allow them to save, this can be good for most high school and tertiary level students since they would be the ones mostly purchasing middle income phones and this also is a large target market. However the Upper class and Business to Business market Nokia can capitalize on profits in this market since they can charge a premium price and they would still be willing and able to buy the phones, but they would have to be the most innovating and best in technology when coming to their cell phone. Their new line of smart phone Lumia would be excellent fotr the upper and Business to Business market.
Place
This refers to the distribution channels and strategies used to get the product or service to the final consumer. Their distribution strategy should be selective where only a limited number of branches are available to target customers in specific areas (Hollensen, 2010:467).
The Place of each of the dealer’s outlets and the product itself are very important and based on customers expectation. When a customer goes to buy a cell phone from Nokia, the place should be fully air-conditioned with a clean environment and glass cases displaying Nokia’s phones. The customer expects good service and friendly staff. Nokia can also change the look of the stores to attract customers at different seasons. For example in Trinidad Carnival is a popular season and most citizens wants a good stylish cell phone for calls and mainly to take pictures, Nokia can take advantage of this due to their popularity of phones with the best cameras. Therefore Nokia can have an outlook displaying Carnival costumes and popular soca artist these are the entertainers that citizens like and are popular for the season displaying Nokia phones thus having a competitive edge over its competitors. Secondly Christmas is a peak time for cell phone sales in Trinidad, my own personal experience of waiting four hours in a line to buy a cell phone . Therefore by changing the outlook of the stores for the Christmas season with A Santa Claus hat at the top of Nokia phone outside the store would definitely attract customers.
PROMOTION
How the benefits of the product are communicated to existing and potential customers in the market.
This is key to Nokia capturing Trinidad’s Market, heavy promotion would allow customers to be more aware of Nokia’s products. Firstly to encourage existing customers as one of the objectives according to the questionnaire a lot of customers still have Nokia phones home that they are not using, Nokia can have customers trade in their old phones and pay a cheaper price on new Nokia phones, in this way encouraging customers to remain within the Nokia brand and this will also have a good Corporate Social Responsibility (CSR) in Trinidad since they would be helping dispose of batteries from phones that would be harmful to the environment if not disposed properly. Secondly they can have packages for Business to Business market by having a discounted price for companies that buy a certain amount of Nokia phones. Nokia can also contact local entertainers to promote their products like what Bmobile and Digicel does, they are the current companies that sell Nokia phones in Trinidad, so instead of the entertainers promoting for the entire company and rival brands they would be highlighting Nokia brand alone. Nokia can also promote and emphasize the eco-friendly phones that they are currently producing since most people want a more environment friendly atmosphere; this is a competitive edge for Nokia. Nokia can also encourage trials of their products in various malls since in Trinidad the malls are popular at weekend for citizens to go to, having sales representatives to show customers and allow them to sample the phones and see the new features that Nokia has would be a great strength for Nokia. Nokia can also help in community development by assisting in sponsors for greater development thus creating a good corporate image and encouraging loyal customers to continue buying Nokia phones.
E-Marketing is one of the cost effective means of creating awareness about your product and building a relationship with your customers. E-Marketing and Mobile Marketing can be used by Nokia for their target market. Electronic medium of communicating awareness of a company product, covers a wider range of potential customers because in Trinidad today a high proportion of the population has this electronic devices. Internet Marketing via E-mails, well designed ND DEVELOPED Nokia website which allows potential customers easy access to the products. Advert placement could also be placed on high traffic sites like Yahoo, Google, MSN etc. Social media like Facebook should also be employed for potential customers to get customers opinion about products and thereby creating interaction and awareness of products to customers.
Direct market strategy could be used by Nokia using temporary staff to send flyers, catalogues and promotion letter using the post code directory to their target market doorpost. Tele marketing and E-mail marketing can also be used and send advert via e-mail and telephone conversation, communicating the product to them and advising them on the usage.
Personal Selling could be employed for finding new customers who are willing to buy either in their offices or at their homes. This would be a plus for the senior citizens who may not be able to reach a dealer and would appreciate this comfort. Also for the Business to business companies who may not have time to visit the dealers due to being extremely busy would appreciate this and reduced threat of competitors. A=Personal selling could be used to create loyalty programmes to retain new and existing customers by giving them discounted purchases.
People/Participants The provision of a service requires both the presence of customers and employees (personnel). Customers should be well informed about Nokia’s services to obtain maximum benefits from their health clubs and spa. Additionally, employees, who will be sourced locally, should be properly trained to maintain Nokia’s high quality staff services. This is important as customers will associate the treatment they receive from staff with the image of the brand.
Physical Evidence:
This refers to the ambience created at the Nokia outlets by the design and layout of facilities. Perceived value is associated with the physical outlook of facilities. For this reason Nokia’s outlets are clean with spacious air-conditioned presentable outlook, and sufficient parking accommodations on the outside.
Processes:
The method of delivery of their services, that is, Nokia can use internet to allow customers to find out about products instead of always having to go to a dealer and have tips on maintaining their phones.
CONCLUSION
Nokia is falling in the Trinidad’s market due to heavy competition, however once they go ahead with Product Development and use the recommendations above I am sure that they will become very successful and regain the highest market share in the mobile market.
APPENDIX A
Reasons Why Nokia still has a good reputation in the Mobile Phone Market in Trinidad and Tobago
In spite of the presence of big names in consumer electronics like Samsung, LG, Sony-Ericsson, Blackberry and Motorola, Nokia really rules the mobile phone market all over the world with nearly 40% of the market for many years until their downfall in profits. Nokia is certainly the king when it comes to brand value, service and experience.
1. Call Quality Nokia is known for its circuitry to handle the RF Reception and providing the best call reception quality. You won’t see users complaining much about the noise or the disturbances within Nokia phones unless it’s a problem of the telecom service provider. So, the primary objective of a mobile phone i.e. to serve us with better and clearer sound when we talk, is served by Nokia perfectly. And if you are a person who is accustomed to other mobile phone manufacturers, then you know that even Apple iPhone and Sony Ericsson are guilty of it.29
2. Hardware
You can be assured of the quality that Nokia provides in your phone hardware. The circuits are far more durable and reliable than any of the other mobile phone available in the market. I am using a single Nokia phone for 6 years and I had to take it to the service centre only once during this period for a trivial problem. That speaks for the truth I am talking about, most Trinidadians have had Nokia phones for years and the service these phones did was remarkable, up to this day a lot of them still have Nokia phones home but because of the introduction of new brands they have put them away and they became outdated now.
3. Battery
The Battery life of Nokia mobile phones is longer than many other cellphones available in the market. People who talk a lot prefer Nokia than any other brands. They always know that the battery will not run out in the middle of the call. IPhone has had this problem with battery life in the past and that hasn’t been solved yet. Nokia leaves others miles behind when we consider the longevity of the battery. In the questionnaire done most Trinidadians admit that Nokia phone batteries last the longest compared to the other brands.
.
30
4. Robustness
Everyone knows that Nokia mobiles are truly rock solid.
5. Wide Product Range Nokia has a vast and huge list of mobile phones. Nokia mobile phones are available for every consumer groups, starting from simple and durable phones for the low income groups and high-end phones for those who can afford to spend money. So regardless of you being a corporate honcho or a fresher into the world of economy, Nokia has something for you. The sheer ranges of products are enviable and at the same time the success mantra of Nokia’s dominance
APPENDIX B
QUESTIONNAIRE
1 What is your age group?
A 16 -20 B 21-25 C 25 -30 D 31 -35
2 What type of phone do you currently own?
A Samsung B Nokia C Blackberry D I phone E Other
3 What are your justifications for owning this brand?
A Reliability B Popularity C Technology D Storage E Physical outlook
4 Do you consider Nokia to be competitive? Yes No
5 What can Nokia do to be more competitive?
6 Did you ever own a Nokia phone in the past? Yes No
7 If yes why did you change?
8 Nokia recently launched the lumia line of smart phone, do you consider this to be in alignment with the growing trends in smart phones.
9 In your opinion what caused Apple I phone, Samsung and Blackberry to rise to the top?
10 Would you prefer to purchase a mobile phone from a provider who is environmentally friendly and practice corporate social responsibility initiative?
RESULTS FROM QUESTIONNAIRE
40% owned Blackberry
30% owned Nokia
25% owned Samsung
5% owned I-phone
Popularity was the main reason to own the brand they choose
More than 50% of the population considered Nokia to be competitive
From the survey PRICE was too high for Nokia phones currently
Also they needed to improve features in their phones
More than 90% of the people surveyed owned a Nokia phone it Trinidad
Reason for change was mainly due to popularity of Blackberry and their BlackBerry messaging (BBM)
Also due to lower prices on other brands and they had more features cause the change.
The new Lumia smart phone according to the survey has had a good impact in the Trinidad market for Nokia a lot of the people are excited to try the new product however they are hoping the price is reduced.
100% of the people surveyed wanted more eco-friendly products and would support Nokia in purchasing eco-friendly products.
APPENDIX C
Ansoff’s Matrix
CURRENT PRODUCTS/ SERVICES
NEW PRODUCTS/ SERVICES
CURRENT
MARKETS
Market Penetration Strategies:
Increase market share
Increase product share
Increase frequency of use
Increase quantity used
New applications
Product Development Strategies:
Product improvements
Product-line extensions
New products for same market
NEW MARKETS
Market Development Strategies:
Expand markets for existing products
Geographic expansion
Target new segments/ customer groups
Diversification Strategies:
Vertical integration
Forward integration
Backward integration
Diversification into related businesses (concentric diversification)
Diversification into unrelated businesses (conglomerate diversification)
PORTERS 5 FORCES
REFERENCES www.tradingeconomics.com www.guardiantt.com www.nokia.com www.trinidadexpress.com www.googlett.com www.scribd.com www.slideshare.com www.studymode.com
BIBLIOGRAPHY
University of Sunderland, 2008 MKT 306
Marketing Strategy 2nd Edition Sunderland
Mullins et al 2006 Marketing Management: a Strategic Decision Making Approach
6th Edition. London:Mc Graw Hill International Edition.
Robin Birm2004. Effective use of Marketing Research. 4th Edition
Ros Jay 1994 Low Cost Marketing Pitman Publishing London.
Jobber.D. (2007) Principle and Practice of Marketing, 5th Edition. Berkshire: Mc Graw-Hall International Ltd.
Larsen, J. Hanning, K (2007-08) Marketing Manual: Bradford : School of Management
Kotler. P. Keller, K , Brady, M, Goodman, M, Hansen, Torben, (2009), Marketing Management,
Pearson Education Ltd Essentials of Marketing Third edition.
Geoff Lancaster Lester Massingtam 1999 International Marketing 6th edition
You May Also Find These Documents Helpful
-
What is known today as Nokia was established in 1865 as a pulp mill by Knut Fredrik Idestam on the banks of Nokia rapids. Finnish Rubber Works established its factories in the beginning of 20th century nearby and began using Nokia as its brand. Shortly after World War I Finnish Rubber Works acquired Nokia wood mills as well as Finnish Cable Works, a producer of telephone and telegraph cables. All these three companies were merged into the Nokia Corporation in 1967.…
- 8618 Words
- 35 Pages
Powerful Essays -
4. Product differentiation needed especially in this market. Nokia has created an established brand name for them internationally and this makes it hard for new entrants to compete.…
- 1545 Words
- 7 Pages
Good Essays -
The VRIO framework is a set of four questions of: Value, Rarity, Imitability, andOrganization (Barney and Hesterly, 2006). It is a tool to analyze company’s resourcesand capabilities to discover their potential competitive advantages or to identifycompany’s internal weaknesses (Barney and Hesterly, 2006). The following competenceswere chosen from Nokia: quality, price, services/functions, and brand image.…
- 723 Words
- 3 Pages
Good Essays -
Nokia is a leading mobile device manufacturer globally and has a high market share. Maximum population in India prefers using Nokia handsets as it is user friendly. It can use its customer’s goodwill and loyalty to diversify in the mobile network market in India. The communications sector in India has transformed into a multi-player and multi-product market that has diverse market size and segments. In order to diversify in to new market, Nokia needs to develop a marketing plan which will give them the idea what factors to be considered before entering the mobile network sector. The marketing plan includes all the factors that need to be undertaken. They are market analysis, competitor analysis, and environmental analysis, and customer analysis, internal and external factors.…
- 5342 Words
- 22 Pages
Powerful Essays -
In order to sustain and expand the market share for success, Blackberry needs to alter its marketing strategies. This will enable them to have a control over the next generation of their target markets. If they fail to satisfy the needs of customers, they may face huge losses. They must always come up with new strategies to increase brand awareness and positive brand image among its customers. This may add up to the costs of marketing, but somehow it shall be beneficial for them in…
- 1560 Words
- 6 Pages
Better Essays -
Vodafone, which is a brand of mobile service provider offering its excellent mobile network services to consumer in different parts of the world including the UK. The firm has accomplished remarkable success throughout its past, however during the recent past as the competition in the market has intensified and the environmental factors have been experiencing much more changes, and the firm's market share is under constant attacks from different competitors. Realizing the significance of sound marketing strategy for the organisation, the paper presents a marketing plan for the organisation. The paper first presents a detail situation analysis that is followed by a detail marketing strategy that could enable the organisation to better position itself in the UK mobile phone network market.…
- 3524 Words
- 15 Pages
Best Essays -
In this project I have covered various topics of marketing which are basically strategic planning, strategic planning process, the domestic strategic planning while the international strategic planning and also the difference among them.…
- 2605 Words
- 11 Pages
Good Essays -
Other competing brands like men’s garments (generation), life style, Bed & bath, Ikea, macro, metro and Carrefour have a strong consumer base but Chen one’s product features distribution and promotional activities have created huge brand loyalty for which it is still the market leader in Pakistan…
- 2573 Words
- 11 Pages
Good Essays -
In the following report, we are presenting the marketing strategy of Sony Ericsson Mobile Communication.…
- 6989 Words
- 28 Pages
Powerful Essays -
Anna Piatnitca Chloé Artigues Woojin Kim Valeriia Kransnyanskaya Principles of Marketing / Miss. Mo Class 14 / Year 2013-14 How did you feel?…
- 7790 Words
- 111 Pages
Satisfactory Essays -
Let us see how Nokia leveraged it segmentation strategies, appealed to various segments with uniquely designed messages and differentiated between its products at every level to communicate and connect effectively with the intended target audience. When Nokia positions its product to the top end segment, it does it as a classy product. To the middle segment customers it is in the form of the best alternative. To the lower end segment, the carrot is that Nokia gives real value, as a high tech product, at low affordable price.…
- 737 Words
- 3 Pages
Good Essays -
The business strategy includes the strategic intent, the competitive strategy and marketing mix. The strategic concept of Nokia is to take the demand-side strategy. Nokia subdivides the whole market into several objective markets according to the researches about the partialities of different individuals. And then different types of mobile phones are put into the market aimed at attracting different consumer groups. The competitive strategy of Nokia is to improve the innovative ability to win the competitive advantage. Strong technological innovation ability makes Nokia stand in the most forward position of mobile industry all the time, and characterized this brand by a special vitality. And the marketing mix of Nokia is to use the integrated marketing strategy including product, price, promotion and place. It values the construction of a brand, the orientation of its products and pays a lot of attention to technology improvement. It increases the sales through sensitive advertisement presentation to the celebrities and large-scale entertainment.…
- 6963 Words
- 28 Pages
Powerful Essays -
South China Morning Post (SCMP or 'the Post') founded in 1903. SCMP Group is HK listed company, stock no. 583. SCMP, Classified Post, Sunday Morning Post & The Post are English Hong Kong newspapers published by the SCMP Group, In 2012 total circulation of SCMP & Sunday Morning Post was 197,095. It is one of the most profitable newspapers in the world on per reader basis. Launched in 1996, scmp.com is a subscription-only service, which allows the retrieval of archive articles dating back from 1993. It was re-launched in May 2007 with a new look, features, and multimedia content.…
- 4624 Words
- 20 Pages
Powerful Essays -
Nokia has come a long way to evolve from a paper mill founded in 1865 to a world-renowned mobile phone manufacturer and one of the most powerful brands in the world. In 1992 Nokia appointed Jorma Ollila as the new CEO and concentrated its focus on telecommunications. Throughout the 1990’s Nokia was known as a relentless innovator and a pioneer that made the world’s first satellite call among many other groundbreaking milestones. In 1998 Nokia became the world’s largest mobile phone manufacturer with a turnover of 31 billion dollars.…
- 1910 Words
- 8 Pages
Best Essays -
1871: The Nokia name is born, inspired by the Nokianvirta river on the banks of which Idestam opens a second mill.…
- 825 Words
- 4 Pages
Good Essays