Declaration Preface 1. Introduction 1 . 1 R e v i e w o f L i t e r a t ur e 1.2 Objective of the study 1.3 Methodology 1.4 Limitations of Study 2. Introduction 2.1 Nokia 2.1.1Nokia Vision/Mission Statement 2.1.2 About the Company 2.1.3History of Nokia 2.1.4Company Profile 2.1.5SWOT Analysis 2.2Introduction to Marketing 2.3Market Segmentation 2.3.1Considerations for Market Segmentation 2.3.2Segmentation Basis 2.3.3Effective Segmentation 2.4Market Segmentation for Nokia 2.4.1Segmentation of Nokia 2.4.2Nokia mobile phones by Series 2.4.3Lifestyle and Psychographic Basis for Nokia 2.4.4The Segmentation of Nokia conducted on the basis of Price 3.Analysis and Interpretation 4. Conclusion 5. Recommendations 6. Bibliography 7. Annexure
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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 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 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, behavioristic, 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.Psychographic and behavioristic bases are used to determine research. preferences and demand for a product and advertising content, while geographic and demographic criteria are used to determine product design and regional focus.
Review of Literature
This literature review will analyze the project on ‘Market Segmentation of Nokia’ and on past and current research that has been done which relates to the market segmentation. This critical analysis of literature contains data about marketing and segmentation strategies collected from various sources. It is important to understand why people and market needs to be divided into different segments. A segmented market is seen as an opportunity to effectively focus on particular customers. This appeals to potential customers and also marketers, as they know that this is what they will have to do. This study also shows how Nokia, a mobile giant, segments its market and focuses its products efficiently towards the customers of a particular segment. This gives a competitive advantage to the company by serving its customers well.
Objective of the Study
The objectives of the present study are:1) To know about Nokia Company. 2)...