The advancement of technology has changed mobile phones to become more interactive and convenient. A new term – “Smart Phone” is used to label the mobile phones of today. A typical smart phone allows the user to customize the functions of the phone to their preferences. Nokia, one of the largest mobile phone companies is now struggling to keep up in this emerging smartphone market. The cause of their struggle was that they did not foresee the emerging threat of smartphones as a revolution and only seek to improve the specifications of their own product (McCray, Gonzalez & Darling 2011). Bloomberg (Diana, 2009) has stated that Nokia’s market share is declining ever since. By the end of Nokia’s Financial Year 2011, they reported a loss of $1.5 billion USD (Jamie, 2012)
This report will analyze the brand elements of Nokia as well as to explore on 3 consumer behavior concepts that influence the choices of purchasing mobile phones. The concepts that will be discussed are the Decision making process, the Self-concept and the Attitude-towards-object model
History of Nokia
Nokia started out as a pulp mill in 1865, processing wood and paper on the banks of Tammerkoski rapids in the town of Tampere, located at southwestern Finland. In 1871, Fredrik Idestam alongside with his good friend, Leo Mechelin, transformed the company into a share company and named the company as Nokia based on the Nokianvirta river.
Thereafter, Nokia has expanded their business to electricity, rubber, cableworks . In 1967, Nokia established a group name Nokia Corporation to pave a new future for Nokia as a global corporation. The new company involved five industries: rubber, cable, forestry, electronics and power generation personal computers, electricity generation machinery, robotics, capacitors, military products(communications and equipments). Nokia foresee a growing potential in the telecommunication industry and thus, in 1990, they decided to sell off their rubber, cable... [continues]
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