Assignment Principles of MARKETING "Nokia": Contents
Assignment Principles of MARKETING "Nokia": Contents
Assignment Principles of MARKETING "Nokia": Contents
Principles of MARKETING
“NOKIA”
Contents:
Company Profile
Marketing Strategy
Mission & Vision
Marketing Objectives
Segmentation
Marketing Principles of Nokia
Market Mix (4Ps)
Competitors
Conclusion
References
Company Profile
COMPANY NAME: Nokia Communication and exchanging information
TYPE: Public
WEBSITE: www.nokia.com
Nokia is one of the top brands globally; it is all about enhancing communication and exploring new ways
of it to exchange information with more than one person through different ways.
The story of Nokia - a century and a half of innovation, from a riverside paper mill in southwestern
as the marketing strategies are concerned about the products from the Finnish company, Nokia, are some of
the greatest in the world, but the company still hasn’t found a profitable way to market its goods. The reason
that other mobile phone companies are having a very fast consumption, Nokia’s market share is their
Motorola and Samsung must now be in the FUW (frequently used words) list in Nokia’s board meetings.
These companies have made Nokia pay greatly for its elementary approach in marketing its phones. The
aggressive marketing practices followed by Motorola have hit Nokia very hard and it is losing very crucial
Nokia, quite alarmed by the dropping sales of its phones, is now putting all its weight behind the N-Series
range. The N-Series is packed with multimedia features and Nokia believes that these phones might
encourage the costumers back to the big deals of the mobile phone world.
While Motorola quite intelligently gives a flashy name to every phone it brings into the market, Nokia tends
to do the exact opposite. Nokia from the very start has relied on numbers rather than names. This strategy
worked very well in the past, but only because there wasn’t much competition back then. But times have
changed. Every month the market sees at least a dozen new handsets from an equal number of
Consumers are more attracted by names because they can easily relate to the features of the phone. This is
evident from the success of the MotoRazr, MotoSlvr, MotoRizr and MotoKrzr. These phones are not packed
with heavy multimedia features like the N-Series; still they are selling like hot cakes. Just by reading the
name of the handset, one gets a broad idea what the phone looks like or what its features are.
Nokia advertises more than Motorola. Still its market share is dropping. Motorola does not need to spend
much money for the promotion of its products and it doesn’t have to worry about the marketing of these
phones; it just simplifies its job by naming its products right. Take the example of Apple it did not have to do
much to promote its iPhone but they got a lot of credit according to the revealed photos and technical
It is high point that Nokia starts applying some common sense to its marketing strategies. It doesn’t have to
do anything great, other than just naming its phones. A few months ago, a highly placed Nokia official told
Reuters that his company would soon go the Motorola way and start using names for its new phones. It is in
Nokia’s best interest that it takes to this path as early as possible, otherwise the once market leader might see
MISSION
We have built value by addressing efficiency, and we continue to do that. But we also need to address the
customer’s need for a better experience, because it’s experience that builds relationships, and relationships
VISSION
Connecting people" is now connecting people to what matters - whatever that means for each person - giving
them the power to make the most of every moment, everywhere, any time. Connecting the "we" is more
powerful than just the individual. That's how Nokia is needed to help make the world a better place for
everyone.
MARKETING OBJECTIVES
1. Maintain positive, strong growth every quarter.
5. To set up a new brand image for Nokia’s mobile phone: Creative and Trendy
6. To meet the needs of the niche: Young and Rich customers who are pursuing stylish lifestyle
SEGMENTATION
We know our country has very wide market and a marketer can’t satisfy everyone in the market with every
product. Thus Nokia has identified and divided the cell phone (handset) market into different segments. Nokia
has divided, identified the different groups of buyers who require or prefer different features (facilities) in their
phones like Premium, Fashion, Classic, Games, Active, Expression and Entry Nokia’s. Those are being
produced to introduce today’s mobile phones that are controlled for ease of use, fun, efficiency and utility
1. Customer satisfaction: Market research must be used to find out whether customers' expectations
2. Customer perception: this is based on the images consumers have of the organization and its
products, this can be based on; value for money, product quality, fashion and product reliability.
3. Customer needs and expectations: This is anticipating future trends and forecasting for future
sales. This is vital to any organization if they wish to keep their entire current market share and develop
more.
4. Generating income or profit: This principle clearly states that the need of the organization is to be
profitable enough to generate income for growth and to satisfy stakeholders in the business. Although
satisfying the customer is a big part of a company’s plans they also need to take into account their
own needs.
5. Making satisfactory progress: Organizations need to make sure that their product is developing
along with the market, if a product is developing well, then income should increase, if not then the
designated market, if it is changing, saturation, technological advances, slowing down or rapidly
Marketing Mix
The marketing mix is probably the most famous marketing term. Its elements are the basic, tactical
components of a marketing plan. Also known as the Four P's, the marketing mix elements are price,
place, product, and promotion. Some commentators will increase the marketing mix to the Five P's, to
include people. Others will increase the mix to Seven P's, to include physical evidence (such as
uniforms, facilities, or livery) and process (i.e. the whole customer experience e.g. a visit the Disney
World).
According to Nokia marketing mix we will be discussing only about the 4P’s.
Products
Mobile phones: Classic series
1000–9000 series
Nokia 2000 series – Basic series
Nokia 3000 series – Expression series
Nokia 5000 series – Active series
Nokia 6000 series – Classic Business series
Nokia 7000 series – Fashion and Experimental series
Nokia 8000 series – Premium series
Nokia 9000 series – Communicator series (discontinued)
Special function phones
Other products
Digital television
ADSL modems
WLAN products
Telephone switches
GPS products
TETRA
Internet tablets
Price
Psychological pricing
LV is a high-end brand
Market-Skimming Pricing
Initially we will set a high price around $1200, gradually decrease and replaced by a newer model
Promotion
Printed advertisement
Car
Audio/Video products
Cosmetics
Fashion
Online - Advertisement
TV advertisement
PLACE
Place mainly consists of the distribution channels. It is important so that the product is available to the customer
at the right place, at the right time and in the right quantity. For placing its products Nokia uses retails outlets,
Competitors
Motorola
Sony Ericsson
Samsung
LG
Sharp
Panasonic
Nokia 37.2%
Motorola 17.3%
Samsung 9.8%
Siemens 8.5%
Sony-Ericsson 5.2%
STRENGTH OPPORTUNITIES
-The Leader in the Industry -Close cooperation with Suppliers and Intermediaries
Conclusion
• Nokia currently still the no.1 in mobile industry
References:
http://www.nokiasiemensnetworks.com/company/mission-and-vision
http://www.nokia.com/NOKIA_COM_1/About_Nokia/Press/Press_Events/zz_Ne
w_Potential/JuhaPinomaa-Moscow03.pdf
http://marketingteacher.com/lesson-store/lesson-marketing-mix.html
www.nokia.com
www.managementfunda.com