Prepared by: Rebecca Mirzabozorg – 301112559 Sheng Yu – 301127910 Corina Inigo – 301136571 Echo Liu – 301132340 TA: Travis Mathieson
This marketing plan focuses on the smartphone market in North America. It is based on an experiential image branding approach intended to generate awareness, long-lasting customer relationship, and brand loyalty comparable to that of competitors in North America. Currently, Nokia is the market leader in the global mobile industry, with great success excluding North America. The reason for that includes increased competition with Apple and Samsung, out-of-date Symbian OS, low brand exposure and internal problems. This marketing plan conducts an in-depth analysis of the internal and external environment, competitors and consumers. Segmentation of North America consumers reveals that Generation Y and Z are Nokia’s target market. Among them, low income groups specifically students is the main target audience. Nokia’s overall objective is to develop and maximize brand exposure in order to increase brand loyalty, market share, and revenue in North America. Within one year, Nokia needs to drastically to drive brand exposure to North Americans while creating a student-friendly concept that highlights Nokia’s durability and enhanced OS and applications through the collaboration with Microsoft. Additionally, Nokia will reallocate its R&D funds to accommodate the growth in predicted consumer demand, intense advertising campaigns and new relationships with major mobile product carriers in North America. We recommend repositioning Nokia as a brand of low cost and high quality in smartphone market. To achieve that, Nokia needs to efficiently utilize its collaboration with Microsoft focusing on the Windows OS and continuously produce the durable hardware quality Nokia is known for. This detailed marketing plan orients Nokia to appeal to students while focusing on Nokia’s product concept, affordability, and durability.
Table of Contents
Strengths and Weaknesses
Opportunities and Threats
Segmentation and Selection
Target Market Profile
Implementation and Evaluation
Pro-Forma Income Statement
Nokia is a world-wide leader in the mobile market. It has success globally excluding North America. Nokia’s lack of brand exposure in North America results in lack of customer awareness. Moreover, Nokia’s struggle with bankruptcy rumors since 2011 has further decreased the company’s global sales and market share since 2008 (NOK: Stock Quote, 2012). Shareholders’ fear of the potential bankruptcy has only increased the damage to the company in terms of customer loyalty and attainment. This has resulted in the loss of profits, with Nokia having -$1.1 billion after taxes (Nokia’s 2011 Interim Report, 2012), as well as a decrease in global sales -- particularly in the United States and Canada, where their market penetration had dropped from 5.5% in 2005 to less than 3% in 2010. This is shown in Figure 1.1: Figure 1.1
Nokia’s company share in North America
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