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Nokia marketing strategy. In order to structure a strategic marketing strategy for Nokia, various customer surveys were analyzed to understand the different needs and issues faced by the customer in todays cell phone arena.

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Introduction

NOKIA BUILDING A SMARTER PHONE FOR A SMARTER PLANET Table of Contents 1.0 Executivey Summary 4 2.0 Introduction 4 2.1 Financial Performance 5 2.2 Nokia Products Life-Cycle 6 2.3 SWOT Analysis 7 3.0 Customer Surveys 7 3.1 Oracle 7 3.2 TNS Global 8 3.3 Adobe 10 3.4Customer Value Proposition for Nokia 10 4.0 Market Segmentation 11 5.0 Product Differentiation 13 6.0 Investment in Product Innovation for Product Differentiation 14 7.0 Conclusion 15 Reference Lists 1.0 EXECUTIVE SUMMARY Gadgets that people use in everyday lives have emotional, spiritual and functional values attached to it and people are ready to pay any amount of money for these gadgets which have these values embedded in them. Nokia is facing a sudden downturn in the cell phone industry market and to revamp its growth and profits, Nokia should redefine its Marketing strategy as per the customer needs and requirements and should develop products which have all the features that customers would like. In order to structure a strategic marketing strategy for Nokia, various customer surveys were analyzed to understand the different needs and issues faced by the customer in today's cell phone arena. From the data and the survey reports, it was observed that people preferred compact phones with all those functionality and features, which puts their life at ease and keep them connected to the world 24*7 with speed and efficiency. Based on customer requirements, Customer Value Proposition is structured and Context based market segmentation is created by giving importance to customer's emotional, psychological and motivational needs. Nokia will focus on Entertainment and Informational segment and will differentiate its products by offering the functionalities which are defined by the customers and not yet offered by any complementary and substitute products. Further, Nokia will also invest in research and innovation and develop those products which will not only take care of the current needs of the customer but will also match up to their dreams. ...read more.

Middle

3.4 Customer value proposition for Nokia: Customer needs Product offering Who is your target market > Entertainment and Informative users. What are their needs and problems Needs: > A cell phone which has the features of a digital camera, excellent quality MP3 player, efficient navigation system, high pixel quality of Live TV and social video. > A device with fast and efficient social media and internet access and quick and real-time data, photos, videos download and upload. > A device which can replace latest generation video game consoles. > A device with 24*7 secure and safe mobile banking which manages all the banking needs, personal budgets, portfolio of stocks and bonds. Problems: > No present device has a combination of all the above features. This makes an individual purchase almost 10 other devices with a mobile phone to fulfill all the requirements. How is your offering unique > A device which transformers your individual devices such as, Digital Camera, Digital Audio Device , Home Theater system, Navigation System, Video Games into ONE SINGLE NOKIA DEVICE. > A device which allows you to share, upload and download photos and videos 24*7 at lightning speed. > A device which solves all your banking needs in a safe and secure way. > A device that can replace your TV, laptops, tablets, cameras, camcorders, wallets etc. Why should they prefer your product over competitors > A unique combination of all the above features as defined by the customers, along with top of range of eminence. Statement > A device which is made by keeping only customer needs in mind. The 'elevator pitch' > Carry one Nokia device instead of ten devices. Source: (Fifield, P., 2008). 4.0 Market Segmentation: The second major step in building a great marketing strategy is performing Market Segmentation: Market Segmentation is the sub division of a market into homogenous sub-sets of customers, where any sub-set may conceivably be selected as a market target to be reached with a distinct marketing mix (Kotler cited in Fifield, P., 2008, pp.193). ...read more.

Conclusion

Nokia should continue investing in this technology, as nanotechnology will be the future of the world, where customers want cell phones to be smarter. Since, Nokia is working on this research it will also have the first mover advantage in the Industry. 7.0 Conclusion: As the demand for smart phones is growing, it is very important for Nokia to dominate the market by focusing on the customer demand and requirements. Nokia is the leading mobile manufacture in the world and its strategic alliance with Microsoft to develop the operating will definitely help Nokia to position itself as a leader in the smart phones category. Nokia should also differentiate its products by developing innovative products as demanded by the customers. This will also direct the time, effort and money in innovation in the right direction. Reference List: Adobe., 2011. Adobe Mobile Experience Survey: What Users Want from Media, Finance, Travel & Shopping [online] Available from: http://www.keynote.com/docs/news/AdobeScene7_MobileConsumerSurvey.pdf. [Accessed 26 December 2011]. Buchanan, F., Webb, J. & Versfeld, R., 2011. Snap and Share: The Future of Imaging and Video [online]. Available from: http://discovermobilelife.com/files/Snap_and_Share_-_The_Future_of_Imaging_and_Video.pdf [Accessed 5 January 2012]. Datamonitor., 2011.Nokia Corporation. London: Datamonitor. Fifield, P., 2008. Marketing Strategy Masteclass: Making Marketing Strategy Happen. Oxford: Elsevier Ltd. Fifield, P., 2006. Collected Essays In marketing Strategy. Winchester: The Paul Fifield Organisation Ltd. Nokia., 2012. About Nokia [online] Available from: http://www.nokia.com/global/about-nokia [Accessed 26 December 2011]. Oracle., 2011. Opportunity Calling: The Future of Mobile Communications - Take Two [online]. Available from: http://www.oracle.com/us/industries/communications/oracle-communications-future-mobile-521589.pdf [Accessed 27 December 2011]. Synergyst., 2011. Global Smartphones Market Forecast (2011-2015) [online]. Available from: http://www.researchandmarkets.com/research/a36730/global_smartphones [Accessed 27 December 2011] TNS Mobile Life., 2011. TNS study reveals penalty for not keeping up in relentlessly changing mobile category: largest ever global research study into today's mobile consumer [online]. Available from: http://www.tnsglobal.com/news/news-6910018B41BF4F4686CD8E7853327C74.aspx [Accessed 5 January 2012]. Nokia Research Center., 2012. The Morph Concept [online]. Available from: http://research.nokia.com/morph [Accessed 5 January 2012]. ?? ?? ?? ?? Page 1 of 15 ...read more.

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