MARKET SEGMENTATION OF NOKIA
Introduction to Project
This Project deals with Various Market Segmentation done in Mobile Industries. This Project mainly focuses on Various Market Segmentation done by Nokia Co. Ltd. in the Market. Nokia is a world leader in mobile communications, driving the growth and sustainability of the broader mobility industry. Nokia connects people to each other and the information that matters to them with easy-to-use and innovative products like mobile phones, devices and solutions for imaging, games, media and businesses. Nokia provides equipment, solutions and services for network operators and corporations. Marketing
Marketing is one of the most important functions in business. It is the discipline required to understand customers' needs and the benefits they seek. Academics does not have one commonly agreed upon definition. Even after a better part of a century the debate continues. In a nutshell it consists of the social and managerial processes by which products (goods or services) and value are exchanged in order to fulfill the needs and wants of individuals or groups. Market Segmentation
Market segmentation is the process of identifying key groups or segments within the general market that share specific characteristics and consumer habits. Once the market is broken into segments, companies can develop advertising programs for each segment, focus advertising on one or two segments or niches, or develop new products to appeal to one or more of the segments. Companies often favor this method of marketing to the one-size-fits-all mass marketing approach, because it allows them to target specific groups that might not be reached by mass marketing programs. The market can be divided into segments by using four "segmentation basis": Psychographic, behavioral, geographic, and demographic basis. The basic criteria for segmenting a market is are customer needs. To find the needs of the customers in the market it is important to undergo a market research. Geographic Segmentation entails dividing the market on the basis of where people live. Divisions may be in terms of neighbourhoods, cities, counties, states, regions, or even countries. Demographic Segmentation involves dividing the market on the basis of statistical differences in personal characteristics, such as age, gender, race, income, life stage, occupation, and education level. Psychographic Segmentation is based on traits, attitudes, personality, interests, or lifestyles of potential customer groups. Behavioural segmentation divides customers into groups based on the way they respond to, use or know of a product. It can group customers in terms of occasions, benefits, user status, usage rate, loyalty status, readiness and attitude toward product.
Nokia’s first century:1865-1967
The first Nokia century began with Fredrik Idestam's paper mill on the banks of the Nokianvirta river. Between 1865 and 1967, the company would become a major industrial force; but it took a merger with a cable company and a rubber firm to set the new Nokia Corporation on the path to electronics… 1865: The birth of Nokia
Fredrik Idestam establishes a paper mill at the Tammerkoski Rapids in south-western Finland, where the Nokia story begins. 1898: Finnish Rubber Works founded
Eduard Polón founds Finnish Rubber Works, which will later become Nokia's rubber business. 1912: Finnish Cable Works founded
Arvid Wickstrom starts Finnish Cable Works, the foundation of Nokia's cable and electronics businesses. 1937: Verner Weckman, industry heavyweight
Former Olympic wrestler Verner Weckman becomes President of Finnish Cable Works.
1960: First electronics department
Cable Works establishes its first electronics department, selling and operating computers. 1962: First in-house electrical device
The Cable Works electronics department produces its first in-house electrical device - a pulse analyzer for nuclear power plants....
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