Ansoff Matrix for Nokia Market penetration Product development Market development Diversification Current markets New markets Figure: The Ansoff matrix Market penetration The aim of market penetration is to sell existing products to an existing market‚ to do this Nokia must do a few things: ■ Change the pricing scheme (for example‚ penetration or competitor based) ■ Introduce discounting ■ Start up a different advertising campaign or consider changing
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Vitamins Market segmentation is an integral part of a company’s marketing strategy. It is the process of breaking down a larger market into smaller and more homogeneous groups of customers to define their needs and wants more precisely. Characteristics of individuals‚ groups‚ or organizations are the variables used to divide total market into segments. Consumer markets can be segmented based on the following customer characteristics: geographic‚ demographic‚ psychographic‚ and behavioral. Vitamins
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Positioning Positioning is an essential part of launching your product and company in the market. The term “positioning” should be viewed both as a verb and a noun. As a verb‚ it can be defined as deploying a set of tools and processes used to influence and control the market’s perception of your product or company in relation to any competing alternatives. As a noun‚ it can be defined as an attribute or condition associated with your product. Nevertheless‚ positioning is not what your company
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plan for Nokia to ensure continued growth in the future. You should think about new ways in which Nokia can distribute mobile phones and create alternative revenue streams. You have agreed the plan will include: An audit of the marketing environment; This will include an overview of the internal and external marketing environment as well as an analysis of competition; A SWOT analysis; SMART Objectives; To clarify what Nokia will achieve; A clear segmentation‚ targeting and positioning (STP)
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weaknesses of mass marketing‚ as opposed to segmented marketing? What advantages does a company gain from market segmentation‚ as opposed to treating the market as single entity? MASS MARKETING:- Mass marketing is a market strategy in which firm or industry treat market with single offer or one strategy. In this marketing term wide range of customers and audience are concentrated. As there is no segmentation and focusing concern so large amount of customers are possibly exposed to the product. For example
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Nokia Code of Conduct Nokia Code of Conduct Dear Colleague‚ Nokia products touch the lives of billions of people‚ from every corner of the earth‚ from every type of culture‚ from every age and background‚ every day. In fact‚ we made it our mission to get a mobile phone into the hands of everyone‚ because we believe technology should be a powerful force for societal advancement. By connecting people to mobile products and services‚ we can help people improve their lives no matter what
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Vodafone segmentation A Global segmentation has been developed and applied across all markets in the last 5 years. It covers consumer and business user segments‚ and in addition they have a chooser segmentation. The key challenge when doing the global segmentation was using variables which they are confident are applicable across all markets. Hence segmentation is predominantly age/lifestage‚ with some variables linked to attitudes to technology. A couple of segments that have been quoted
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COUNTRY REPRESENT •Finnish Company •Nokianvirta river Nokia‚ Finland YEAR OF BIRTH Company started in 1865 as wood pulp mill. After 1963 Nokia started producing radio telephone COMPANY PRODUCT Early products: Wood pulp Rubber Cables and Television Main Product: Mobile Phone‚ Smart Phone‚ Mobile Computers‚ etc. FOUNDER OF THE COMPANY •The company was initially founded by Fredrik Idestam in 1865 •But it was later converted into a share company
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Consumer Behavior: Market Segmentation Contents Introduction 1 Concepts of Market segmentation 1 Case of a jewelry company 3 Conclusion 7 Reference 8 Introduction Market segmentation‚ as a crucial step of marketing‚ is not what you do to a product‚ but something you know about your customers. A good knowledge of your customers can enable you to yield twice the result with half the effort. Every consumer is different. Some prefer stylish products‚ while some want cheap and durable
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girl’s and boy’s toys. Aisles are filled with either pink‚ frilly princesses or blue‚ aggressive action figures. Toy marketing has changed dramatically in the past 50 years. As a matter of fact‚ it was not until the 1990s that toys were exceedingly targeting specific genders The age group that will be focused on are children from the ages of 6 to 8 years old.
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