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Ecobus Marketing Coursework - Nokia - The Wireless Giant

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Introduction

Page1 Ecobus Marketing Coursework Raj Putatunda 12J "Nokia - The Wireless Giant" Introduction & Purpose For this coursework, I have decided to study the wireless giant, Nokia. Nokia is, unarguably, the leader in the world of mobile communications. The brand boasts a significant number of users from around the world, ranging from Europe to the Americas, and from Africa to the Asia Pacific. Nokia's success has been aided by its experience, innovation and its user-friendliness and thus, has become the leading supplier of mobile phones and other related products around the globe. The aim of this project is to identify how Nokia has approached its market and what has enabled the company to become a world leader in the world of wireless communications. This will include a study of the customer behaviour towards the brand and how Nokia has managed to secure a large share of the market, leaving its competitors far behind. Methodology In order to fill my purpose, I will collect both primary as well as secondary data from the appropriate sources. To collect the primary data, I will hand out questionnaires to a sample group of people varying in age and nationality. This is necessary to get a wider perspective of the possible customers of Nokia. Two samples of the questionnaire will be presented in the appendix. I will also carry out an interview with one of the staff of a Nokia Retail Outlet to further inquire about their aims and objectives in Hong Kong. The appropriate information from the questionnaires will be converted into graphs and then summarised. However, my study of Nokia will be based in Hong Kong and may contain a Hong Kong Perspective of the brand In addition to these data, I will create a S.W.O.T (Strength, Weaknesses, Opportunities, Threats) analysis of the company and also analyse Nokia's marketing mix. This will give a good overview of the company's marketing strategy. ...read more.

Middle

However, they need to continue generating strong cash flows to stay in the position. * Question Marks: These are firms who have a low market share but have a high growth prospect. This means that although they may have the potential, they need significant investment for them to become competitive against other firms. * Dogs: These are the companies which have low share of the market as well as a low prospect of growth. A chart of the Boston Matrix is shown below. Question Marks Stars Dogs Cash Cows Nokia falls into the category of Stars. This is because in the growing world of wireless communications, the prospect of growth is enormous as the sky is the limit for growth. And due to the fact that Nokia holds a relatively high market share compared to its competitors, it will be classified as a Star. Page 6 Place Identifying the ideal place, where to sell and promote your product, is crucial to any business. In order for a product to be successful, the place where it is sold should be convenient to its customers and the company should ensure that the place is going to be feasible for the company resulting in significant turnovers. For Nokia, Hong Kong holds a lot of promise. This is because the Asian Pacific countries represent the most powerful economic region in the world, with a staggering gross domestic figure of $14 trillion. Since the growth period started since the 1960's, the region saw its collective global output percentage increase by six times- 4 % to 25 %. Thus, doing business in this region is ideal for the company as the people have the purchasing power and the wireless communication market is rather big in the SAR. More than 90% of the population in Hong Kong have mobile phones, as it is very rare to see someone without one. Hong Kong is known as the 'shopper's paradise' and is known for its electronics market. ...read more.

Conclusion

If Nokia sets up a company in China, it would mean lower costs of productions and higher turnovers. * The new wireless internet service can also be a new opportunity for the company. As time will pass, the technology will flourish and Nokia can become a leader in this field if it continues to innovate in this field. * Acquisitions can also be an opportunity as it would eliminate competition so that Nokia can dominate the market, and possibly monopolise the market. * Organic growth is another prospect as it can venture into launching other products. Threats * Nokia's main threats are its competitors. If competitors come up with 'copycat products' to enter the market, Nokia will have to adjust accordingly to continue to gain the major share in the market. Page 10 Conclusion & Recommendation To wrap everything, Nokia is a successful wireless giant aided by its strong marketing strategy. Its innovative products, appropriate placement, top notch promotion and suitable pricing has allowed it to hold the better share of the mobile communications market. In a world that is fast becoming reliant on technology, Nokia, with the help of its state of the arc technology, will create a new revolution in the industry. Locally, the telecommunication market is a thriving one and offers endless opportunities to the company. However, continuous market research and development needs to be done to keep Nokia where it is today. To eliminate any possible threats, Nokia can continue to develop new products and acquire a patent which will eliminate any chances of 'me-too' products from other companies. Acquisitions are also an option as a merge will make Nokia stronger as well as help remove competition. Organic growth can also help them guide towards more turnovers over a period of time. Nokia is, clearly, the hot choice of the mobile customers at present. By the looks of it, it is only a matter of time before its competitors are hunted down to extinction, at least in the field of mobile phones. ...read more.

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