Market Segmentation of Nokia

Topics: Nokia / Pages: 8 (1999 words) / Published: Oct 14th, 2011

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
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

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