Marketing strategy in Nokia Research Paper Example | Topics and Well Written Essays - 3000 words

Marketing strategy in Nokia - Research Paper Example [Accessed 29 November 2011] 17 Appendix A: 20 Appendix B: 21 1. Introduction The aim of this report is to analyze, appraise and make recommendations on the marketing strategy of one of the leading Mobile manufacturing companies, Nokia. The paper will identify the company’s strengths and exploit the opportunities that it has in the competitive market today. The paper would further analyze the environment in terms of internal and external factors and make appropriate recommendations to its current marketing strategy to attain higher customer satisfaction, brand loyalty and market share. 1.1 Background and origin of Nokia: Nokia is world’s leading mobile phone manufacturer operating globally. It is the symbol of quality, ease and excellence. It is a Finnish multinational information technology manufacturing company with head office in Keilaniemi, Espoo, Finland. It has wide operations in 120 countries with more than 100,000 employees worldwide (Forbes). It is the second la rgest mobile manufacturer of the world following the Samsung Incorporation. It has 22.5% market share in mobile phone industry (Damian and Calvin, 2012). The products are mobile phones, handhelds, electronic gadgets and notebook computers. Till the year 2012, it had been a world largest mobile phone manufacturer but after emergence of Samsung and Apple iPhone 5, it got its sales down sufficiently. A lavish life of Nokia brand was observed as lesser popular after when people started adopting Samsung Galaxy smart phones and iPhones. A couple of years back, it faced a similar situation when Blackberry phones were on demand fashion (Kotler, 2012). To cater the needs, Nokia has jumped in to the competition while the competitors are enough substantial to moderate the competition. Since Nokia has lost the market leader position but still it is on priority for student, middle class man and quality seekers (Dibb and Simkin 2013). 1.2 Nokia’s Position in the Market Figure 1: Leading mo bile manufacturing Companies’ market share Source: Samsung, Nokia, and Apple dominate phone sales in spring 2012- August 2012 (Hill, 2012) Based on the 2012 results, Nokia is ranked as the second largest company in the competitive mobile industry. The further sections of the report shed light on Nokia’s current market status in the mobile industry. In order to achieve its aims, the paper uses tools like SWOT analysis and competitive analysis to understand the competitive edges that company stands on. After the careful analysis, Nokia’s marketing strategy is evaluated in terms of segmentation, targeting and positioning. Its marketing objectives are evaluated and strategies analyzed to identify any gaps between the marketing goals and strategies adopted. The paper reaches its conclusion after providing a number of recommendations to fill the gap in marketing strategies and suggests Nokia some efficient and effective strategic changes. 2. Situational Analysis 2.1 S WOT Analysis Strengths Nokia is ranked second largest distributer of mobile sets in the competitive mobile manufacturing industry (Figure 1). Nokia keeps its market share high by investing a considerable amount of capital in Research and Development strategies. It had spent 4.94 billion Euros on R&D in 2010 and was ranked 11th in the list of top R&D spending Multinational organizations globally (Sitkin & Bowen 2013).