Nokia is one of the leaders in mobile phone industry which is in the competition with other product lines such as Apple, Samsung, HTC, Sony Election, ect. From a riverside paper factory in south western of Finland, Nokia has developed to be a global telecommunications leader connecting over 1.3 billion people (cited in nokia.com, n.d.). They have set up a mission, vision and strategy in order to change and adapt with the challenging of the rapid development of the technology era. Nokia’s slogan as well as their simple mission is: Connecting People and taking the needs customers as the root, this company’s goal is to bring great mobile products that allow people worldwide to enjoy more the joy of life (cited in nokia.com, n.d.).
Image 1. Nokia logo
(Source: http://www.unwiredview.com/2010/08/20/nokia-buys-mobile-analytics-company-motally/) In the development process, Nokia has satisfied the demands of customers with variety of products which show the difference and the advance in design as well as features. With the explosion of smart phones such as Iphone (Apple), Samsung Galaxy, HTC, ect; Nokia has formed a strategic partnership with Microsoft in order to regain leadership in the smart phone area. Nokia Lumia, Nokia Asha, Nokia Belle are three representatives of the smart phone product line with superior features such as unique camera technology, exclusive live titles and powered by Windows phone 8 (cited in nokia.com, n.d.). Image 2. Nokia smart phone
(Source: http://sohoa.vnexpress.net/tin-tuc/san-pham/dien-thoai/nhan-vien-nokia-tiet-lo-smartphone-prodigy-chay-apollo-1498911.html). Marketing is one of the key factors that make the successful of Nokia in the past time and in a highly competitive market, marketing strategies have to be sharp and precise for the breakthrough of Nokia and its position firm in the field of smart phone. Its strategies include market segmentation, target strategy, buyer behavior and Nokia positioning. Nokia has penetrated into Vietnamese market since 1996 and in 2012; Nokia officially constructed a mobile phone factory in Vietnam that brings our country to become one of the global supply chains of Nokia with their new ambitious (Cuong Cao, 2012). This report will discuss the marketing strategies of Nokia in Vietnam in terms of market segmentation, target strategy, buyer behavior and recent positioning. It will be useful for the development of smart phone in Vietnamese market and make it becomes a potential market place of Nokia.
1, Identify the existing market/product segmentation of Nokia and propose criteria suitable for Vietnam: Market segmentation is defined as the division of market into different parts by grouping customers with common characteristic based on income, age and based on certain items. The segmentation has three main criteria: measurability, accessibility and substantiality (BPP Learning Media, 2010). Measurability means that the number of customers in each segmentations or the extent of customers who do not use the product. The next criteria are accessibility which refers to the access of products to customers based on characteristics in order to determine an appropriate target segment. Substantiality focuses on the certainty of segmentation that weather it is too large or not. It will effect to the success of a company. the purposes of market segmentation is that the company will focus its efforts on identifying one strength in order to satisfy the needs of customers as well as market (Do Hoa, 2011). In addition, by segmenting market, the company can control the competition in a large market.
Image 3. Market segmentation
(source:http://www.dna.com.vn/vi/thuat-ngu-thuong-hieu/s/segmentation-:-phan-khuc-thi-truong-/) In Vietnamese market, Nokia can choose in many ways of market segmentation in terms of smart phone and they can base on geographic, demographic, psychographic and behavior. In particular, Vietnamese market is...
Please join StudyMode to read the full document