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Strategy Marketing - Nokia

Extracts from this document...

Introduction

STRATEGIC MARKETING Group 2 - HEXAD Group Project: Mobile Phone-NOKIA Table of Content 1. Company Background-NOKIA 2. Category Situation 3. Brand Situation-NOKIA 4. Target Market of NOKIA 5. Competitors Analysis 6. Methodology 7. Research Findings 8. Marketing Mix Strategies * Product Strategies * Pricing Strategies * Promotion Strategies * Distribution Strategies 9. Appendix 1-Questionnaire 10. Appendix 2-SPSS Output Company Background Nokia was established in Finland in 1865. Owing to its digital revolution starting from 1992 by launching its first GSM model as well as the new formulation of the key elements of its strategy by leaving the old businesses and increasingly focus on telecommunications in 1994, it helps Nokia create the basis for a successful conquer of the world telecommunication market. Till now, Nokia is already the world leader in mobile communications, driving the growth of the broader mobility industry. Fulfilling a fundamental human need for social connections and contact by connecting people is the mission of Nokia. It aims to bridge the gap between people and the information they need by its innovative and high-tech telecommunication products. In order to achieve this mission, strong and aggressive R&D investment helps Nokia provide a wide range of easy-to-use and innovative products like mobile phones, devices and solutions for imaging, games, media and businesses to the world customers. Currently, Nokia comprises four business groups namely mobile phones, multimedia, enterprise solutions and networks. Through close collaboration and effective resources use between different business groups, Nokia is able to provide excellent products to consumers and enjoy cost leadership as its sustainable competitive advantage. Being the pioneer of the mobile communication market in the world enjoying about 30% share of the world's mobile phone market, Nokia is continuing to explore new investment opportunity. Teaming up with the Sanyo Electric Corp. which ranked the 10th world while to form a joint venture, Nokia will continue to be excel and advance in the world telecommunication market. ...read more.

Middle

> Pricing Strategies Mobile Phone industry is an oligopoly market in a mature stage of 2G mobile phone with a status quo pricing. Reducing the price not only can't help to promote Nokia's phone, but would only lead to price war. Also, from the factor-loading table, we can see that the attribute of reasonable price is not the most important factor to affect customers' purchase decision. As a result, we suggest Nokia to keep its existing pricing strategy. Fig 11 Factor Loading Table > Promotion Strategies From the factor-loading table (Fig 12), we can see that our target customers perceive the factor of 'widely advertised' to be an important one. This is reasonable since there are always new models available and customers can only get the most updated product information through different advertising methods. From the perceptual map, it shows clearly that Nokia is already a market leading player in terms of Factor 2- Marketing Activities. In customers' mind, Nokia has already heavily promoted for its mobile phone. Though, we can get important insights for the promotion strategy. Fig 12 Factor Loading Table Fig13. Perceptual Map * Objectives of the promotion strategy There are three objectives of the communication strategy. The first two objectives are to inform and persuade customers when there are new models available. The communication programs should provide information on Nokia's products quality in terms of its functions as well as its design in order to improve customers' awareness and knowledge on new launched mobile phones. The final objective is to send messages to customers which enhance Nokia's brand image. The communication strategy should remind customers and maintain its top position in their evoked set. * Media Message The media message of communication strategy should focus on Nokia's phone quality that could provide customers with multi- functions, which are perceived to be most important in mind of target customers. Apart from this, Nokia should also highlight its stylish and professional design in the media message as a selling point. ...read more.

Conclusion

REGR factor score 1 for analysis 1 * brand Between Groups (Combined) 11.952 4 2.988 3.072 .017 Within Groups 284.048 292 .973 Total 296.000 296 REGR factor score 2 for analysis 1 * brand Between Groups (Combined) 70.265 4 17.566 22.723 .000 Within Groups 225.735 292 .773 Total 296.000 296 Measures of Association Eta Eta Squared REGR factor score 1 for analysis 1 * brand .201 .040 REGR factor score 2 for analysis 1 * brand .487 .237 * Regression Variables Entered/Removed(b) Model Variables Entered Variables Removed Method 1 REGR factor score 2 for analysis 1 , REGR factor score 1 for analysis 1(a) . Enter a All requested variables entered. b Dependent Variable: attitude Model Summary Model R R Square Adjusted R Square Std. Error of the Estimate 1 .770(a) .593 .590 .78 a Predictors: (Constant), REGR factor score 2 for analysis 1 , REGR factor score 1 for analysis 1 ANOVA(b) Model Sum of Squares df Mean Square F Sig. 1 Regression 260.866 2 130.433 213.782 .000(a) Residual 179.376 294 .610 Total 440.242 296 a Predictors: (Constant), REGR factor score 2 for analysis 1 , REGR factor score 1 for analysis 1 b Dependent Variable: attitude Coefficients(a) Model Unstandardized Coefficients Standardized Coefficients t Sig. B Std. Error Beta 1 (Constant) 4.495 .045 99.173 .000 REGR factor score 1 for analysis 1 .735 .045 .603 16.192 .000 REGR factor score 2 for analysis 1 .584 .045 .479 12.861 .000 a Dependent Variable: attitude * Regression Variables Entered/Removed(b) Model Variables Entered Variables Removed Method 1 attitude(a) . Enter a All requested variables entered. b Dependent Variable: intention Model Summary Model R R Square Adjusted R Square Std. Error of the Estimate 1 .740(a) .548 .546 .93 a Predictors: (Constant), attitude ANOVA(b) Model Sum of Squares df Mean Square F Sig. 1 Regression 314.119 1 314.119 360.657 .000(a) Residual 259.547 298 .871 Total 573.667 299 a Predictors: (Constant), attitude b Dependent Variable: intention Coefficients(a) Model Unstandardized Coefficients Standardized Coefficients t Sig. B Std. Error Beta 1 (Constant) .175 .207 .844 .399 attitude .842 .044 .740 18.991 .000 a Dependent Variable: intention ...read more.

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