Contemporary Marketing: NOKIA
Nikolas Stavridis - 77094447
Shivam Parashar - 77154872
Hareshwer Saravanan - 77155974
Puneet Hooda - 77154871
Shivani Subramanian - 77152702
Masters of Business Administration
Faculty of Business & Law
Table of Contents
2. Nokia’s Marketing Strategy
2.1. Why Nokia’s Marketing Strategy Failed?
2.1.1. Nokia’s Value Proposition (or lack of it)
2.1.2. Nokia’s Marketing Strategy
2.2. Marketing Mix or 4P’s of Marketing:
3. Nokia’s Marketing Audit:
3.1. Porter’s Five Forces:
3.1.1. Barriers to Entry
3.1.2. Power of Buyers
3.1.3. Power of Supplier
3.1.4. Threat of Substitute
3.1.5. Rivalry amongst Competitors
3.2.1. Political Factors
3.2.2. Economic Factors
3.2.3. Social Factors
3.2.4. Technological Factors
3.2.5. Environmental Factors
3.2.6. Legal Factors
3.3. SWOT Analysis
“ Our goal is to build great mobile products that enable billion people worldwide to enjoy more of what life has to offer ” - Nokia.
Our aim is to assess the Nokia’s background, review its existing Marketing activities by using the Marketing Mix (4P’s) and to apply and evaluate the Marketing Audit by using the Micro and Macro analysis.
We have chosen Nokia for our group presentation, as it was once, the leading mobile phone company and almost everyone has used a Nokia product at least once. And that way, we are familiar with their brand name & performance. Their fall, made us want to know what actually went wrong with them and how such a big company can go wrong with their marketing strategies.
Nokia’s history dates back to 1865.
Nokia first entered the telecommunications equipment market in 1960. Before entering the telecommunications equipment market Nokia Corporation had five businesses: rubber, cable, forestry, electronics and power generation. In 1982, Nokia introduced the first fully digital local telephone exchange in Europe and, then, the world’s first car phone. In 1990, Nokia made a strategic decision to make telecommunications its core business. The first GSM call was made with a Nokia phone in 1991.
By 1998, Nokia was the world leader in mobile phones, a position it enjoyed for more than a decade. In 2006, Nokia acquired Gate5 and NAVTEQ in 2008 to build its digital mapping and navigational software. In 2007, Nokia combined its telecoms infrastructure operations with Siemens to form Nokia Siemens Networks. In 2011, Nokia joined forces with Microsoft and adopted the Windows Phone operating system for its smart phones. Nokia offers leading location services through the HERE maps, which was launched in 2012. In 2013, Nokia reinvented itself by first buying Siemens’ stake in NSN and second was the announcement of the sale of Nokia’s Devices & Services business to Microsoft. The Microsoft transaction was completed on April 25, 2014.
Following the transaction, Nokia announced its new vision and strategy. Nokia Networks, HERE, and Nokia Technologies (Nokia, 2014).
2. Nokia’s Marketing Strategy:
2.1. Why Nokia’s Marketing Strategy Failed?
Ever since Stephen Elop became Nokia’s CEO in September 2010, Nokia’s stock price has nosedived. Nokia’s stock was going up steadily at that time.
3.1.1. Nokia’s Value Proposition (or lack of it):
Nokia needs to know what their value proposition is.
In short, it describes why Nokia’s products and services are the best choice for it’s target customers. If they don’t have a strong value proposition, people have no reason to buy. iPhones are often...
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