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This research is on the product of Nokia 8210, including the state of price, the elasticity of demand and the state of competition which affect Nokia 8210 and the firm in the mobile phone market.

Extracts from this document...

Introduction

UB ECONOMICS RESEARCH PROJECT PRICES, ELASTICITY AND COMPETITION By Ying Xiong (13NM) RATHERFORD COLLEGE 2003.6 RESEARCH PROPOSAL This research is on the product of Nokia 8210,including the state of price,the elasticity of demand and the state of competition which affect Nokia 8210 and the firm in the mobile phone market. The main obstacles are selecting information from the given resourses awide range of information accurate. To get the most widely information, I decide to do my survey on the internet. How will I answer the questions : 1. How is the product affected by price and non-price competition? -- Find out Change of price and change of demand in a certain period to find the effect of price competetion. -- Find the marketing strategies taken by Nokia8210 and its competetors to find the effectof non-price competetion.. 2. What is the elastisity of demande for Nokia 8210? -- Find out Change of price and change of demand in a certain period to work out the price elasticity . -- Find out change of demand after change in income to work out the income elasticity. ...read more.

Middle

Q6: will you choose Nokia 8210 if your income deduced by 20%? Q7: will you choose Nokia8210 again if your income deduced by 40%? Q8: What do you think is the most important when you choose your handset? a) Price b) Service c) Advertising d) Modification e)Others RESULTS Table 1(Q1) 2002.5 2002.11 2003.5 N8210 MT190 $210 95(48) $180 138(69) $160 162(81) $180 95 $180 80 $150 135 TOTOL 1380 1410 1392 ($= US dollar; 95(48)=95sets of mobile phone& 48 sets of earphone) Appendix: Refer to question 1,2 and 3 in the proposal Table 2(Q3) Advertising Service Modication Sponsorship Nokia 8210 Celebrition effect 24-hours servce Add in chinese Input style Nokia Club Moto T190 Ads on the main websites Fast-repair service Personal design Motorala Club Appendix: Refer to answer question 3 in the proposal Table 3(Q7) Customer: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Q6 Y N Y Y Y Y Y N Y Y Y Y Y N Y Y Y Y Y Y Q7 N Y Y Y N N N N Y N Y N N Y Y Y N Y Y Y (Y---YES N---NO) ...read more.

Conclusion

The lucrative mobile phone market seems to be well served at different price points, with leading brands Nokia and Motorola appealing to all market segments. While branding through advertising remains popular manufacturers invest heavily in advertising and fight feverishly for primetime spots .Research indicates their money may not always be well spent.(TABLE5) Despite its undoubted importance, market segmentation is not a magic bullet. There is no one-size-fits-all solution to the consumer puzzle, and marketers are perfectly entitled to pursue different strategies(TABLE2,5). The fundamental rule is to cater for what your customers want, target the right segments and eventually ensure a well-balanced mix to suit different segments. This sounds like cliche and common sense to all marketers but this is easier said than done, as our survey has discovered. The idea is for manufacturers to remove the blindfold and stop fighting for lower prices, which can only make them overlook the fact that the pie is actually bigger than they might have realised. To increase profits, they should consider tapping into new potential markets and building a powerful brand image, and in order to become a powerful brand, they should not bet on advertisements alone. ...read more.

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