Nokia's Marketing Strategy

Marketing is normally seen as the duty of creating, promoting, and delivering goods and services to consumers and businesses (Kortler, 2005). Marketing is about stimulating demand for a company's products. Is this sense, marketing can be defined as 'the artwork of advertising products'. However in the present day economies, marketing is more than selling. Regarding to Peter Drucker, a leading management theorist, the purpose of marketing is to know and understand the client so well that the merchandise or the service matches him and offers itself. In this value, the focus of marketing shifts from convincing people to buy a company's products to finding the needs of people and planning products that fulfill these needs. Thus marketing activities should cause customer who is ready to buy. At this time all that is needed is to make the right product available to consumers. A company that is going to be successful in the market place will be that company that will correctly discover the needs of consumers and produce products that satisfy them. This is what is called 'right' product predicated on careful marketing research. Predicated on the aforementioned, marketing is well described by the definition provided by the North american Marketing Relationship. Thus marketing is defined as "the procedure of planning and performing conception, pricing, promotion, and circulation of ideas, goods and services to create exchanges that gratify specific and organizational goals. Marketing handles identifying and interacting with human and public needs. Indeed marketing can be defined as simply 'meeting needs profitably'.

Marketing is an organizational function and a set of procedures for creating, communicating, and delivering value to customers as well as for managing customer connections with techniques that benefit the business and its own stakeholders. It's the art and research of choosing target market segments and getting, keeping

Marketing management is the art work and science of choosing aim for markets and getting, keeping, and growing customers through creating, providing, and interacting superior customer value. It's the conscious effort to accomplish desired exchange results with target marketplaces.

MARKETING STRATEGY

A company's marketing strategy will be influenced by the chosen marketplace and the marketing school of thought being employed by the management.

Target Markets

A solitary company or product can hardly ever satisfy everyone in a market. People have different likes and choices. People are different in terms old, gender, beliefs, income, faith, and location. Each one of these factors have a bearing on the products that charm to them. Therefore, marketers must begin by dividing or segmenting the marketplace. An organization must identify and profile distinct groups of clients who might favor or require varying product and services mixes. A company's marketing strategy should concentrate on that portion that promises the greatest opportunity. The developed market offering is then positioned in the imagination of the mark buyers as delivering some central benefits.

Marketing Orientations or philosophies

A marketing school of thought can be an orientation or process that guides a company's marketing activities or work. It identifies the comparative weights that receive to the hobbies of the business, the clients, and the world. It is important that marketing activities be completed under well-planned viewpoint of efficiency, efficiency, and sociable responsibility (Kortler, 2005). Organizations can conduct their marketing activities under different marketing philosophies. They include: the production concept, the merchandise concept, the selling concept, the marketing concept, and holistic marketing theory.

Production concept

This concept contains that consumers will choose products that are accessible and inexpensive. Such a small business will concentrate on achieving high creation efficiency, low costs, and mass syndication. The assumption is that consumers are primarily enthusiastic about product availability and low prices. This orientation is more regularly applied in expanding countries, where it is assumed, individuals are more interested in acquiring the product than its features. However with the rapid globalization and even more educated consumers, this beliefs is swiftly loosing its meaning.

Product concept

Product concept contains that consumers will favour those products that provide the most quality, performance, or ground breaking features. Professionals in these organizations focus on making superior products and increasing them over time. The assumption is the fact that buyers admire well-crafted products and can examine quality and performance. Companies that are product focused assume that their designers exceptional products that will meet customer targets. Normally no customer type is searched for and competition is not a consideration. This is a 'make and sell' idea that will not focus on the customer.

Selling concept

The selling idea retains that consumers and businesses, if left alone, won't buy enough of the organization's products. Competitive selling and promotion effort is needed to make sales. According to this theory, consumers typically show buying inertia or resistance and for that reason must be coaxed into buying. Money is allocated to tv and radio advertising, posters, mailings. The retailing concept is ideal for unsought goods, goods that purchasers normally do not think of buying. Companies that are experiencing overcapacity also engage in extreme marketing techniques. Their purpose is to sell what they make somewhat than make what the marketplace wants.

Marketing concept

This is a 'customer centered' philosophy. Instead of hunting for customers, marketing sometimes appears as 'gardening'. The duty is never to find the right customers for the business products however the right products for the mark customers. According to the concept, the main element to obtaining organizational goals consists of the business being far better than opponents in creating, providing, and communicating superior customer value to its chosen focus on marketplaces. The marketing philosophy is preoccupied with the thought of satisfying the needs of the client by means of the merchandise and the whole cluster of things associated with creating, providing and finally eating it. The client is the ruler. The marketing theory rests on four pillars: marketplace, customer needs, designed marketing, and profitability.

Companies do best when they choose their aim for market segments carefully and prepare tailored marketing programs. Nokia has segmented its market in six areas; Africa, Asia Pacific, European countries, Latin America, Midsection East, and THE UNITED STATES. Each region has unique needs tackled by the company in terms of product quality, features, pricing, and longevity.

Customer concept

This involves shaping distinct offers, services, and information to individual customers. The business is pressured to collect home elevators each customer's past trades, demographics, psychographics, and media and distribution choices. They desire to achieve profitable progress through capturing a larger share of every customer's expenditures by building a higher customer devotion and concentrating on customer lifetime value.

Societal marketing concept

This concept keeps that the organization's job is to look for the needs, needs, and pursuits of target marketplaces and to deliver the required satisfaction better and efficiently than competitors in a way that preserves or increases the consumer's and the society's wellness. It requires marketers to create social and moral considerations to their marketing techniques. In the modern world that is faced with environmental deterioration, water pollution, resource shortages, food cravings, poverty, explosive populace, and mushrooming slums, marketing procedures should think about the permanent good thing about the world or open public.

COMPANY PROFILE

Nokia is the earth leader in mobility, driving the transformation and expansion of the converging internet and communications industries. The company has operations in Africa, Asia Pacific, Europe, Latin America, Middle East, and THE UNITED STATES. In brief the business has a global wide occurrence.

Nokia commenced as a paper mill company interacting in paper, silicone, and cables in 1865 in South European, Finland. The company improved to Nokia Company in 1968 and placed itself for a pioneering role in the early progression of mobile marketing communications. The period 1992 to 2000 experienced a increase in mobile phone use. Nokia made this sector as its core business. With the turn of the hundred years, Nokia had become the world innovator in cell phones.

Vision

Nokia is a consumer led company. There's a progressive and ongoing increase in consumer engagement with technology and marketing communications globally. Folks are broadening their modes of communication to include the net and, internet sites have become central to how people converse. People desire to be truly connected, impartial of your energy and place, in a way that is very personal to them. And Nokia's assurance is to hook up people in new and better ways.

Strategy

Nokia's strategy is to generate trusted consumer relationships by offering persuasive and valued consumer alternatives that combine beautiful devices with framework enriched services.

Corporate Business Development

The Nokia Corporate Business Development gets the responsibility to manage Nokia's Strategic growth areas. Their target is to look for breakthrough ideas that are industry shakers. They are innovative business ideas and technology that integrate with and develop beyond Nokia central business.

Nokia is designed to connect people who have new services that are significant to them and offer higher benefits by allowing more ventures on these devices. New services stem from the neighborhood needs of consumers and local competence.

Marketing strategy in place

The company intensely is determined by advertising and campaign activities to popularize its products. In addition, the business through its research unit is continuously involved with looking for product features that meet the innovating needs of diverse customers. There will vary types of Nokia mobile phones in the market which range from a cheaper to expensive models. The aim is to gratify the needs of diverse market segments.

Advertising Program

Advertising is any paid form of non personal demonstration and advertising of ideas, goods, or services by an identified sponsor. It is important to start out by identifying the mark market and buyer motives. An advertising program has five components: objective, money, message, marketing, and measurement. Advertising goals must flow from prior decisions on marketplace, market positioning, and marketing combination. Advertising targets may be to inform, persuade, remind, or reinforce.

OVERAL BUSINESS STRATEGY

A strategy is the path and range of an organization over an extended term, which achieves gain for the business through its settings of resources in a changing environment to the needs of marketplaces and fulfill stakeholder objectives.

This is the best strategy level. It is worried about overall purpose and range of the organization (Jelassi and Enders, 2009). Corporate strategy addresses issues such as allocation of resources, acquisition, and products to produce. Marketing strategies of the firm are meant to contribute to the realization of the organization objectives.

Incorporating the global environment into marketing planning

Business and competition is more and more taking a global perspective. Goods manufactured in overseas countries are often finding market segments in faraway countries thanks to the improved means of communication and move.

Use of e-business in marketing management

Marketing activities can now be conducted online. Customers have the ability to determine the sort of merchadize they require on the internet. Communication between suppliers and customers can be done via the internet.

CONCLUSION

Nokia has adopted the Marketing philosophy or orientation in its marketing activities. The company in addition has produced a variety of mobile phones to meet up with the diverse market needs. The business has a solid research team that is charged with the duty of determining the consumer needs and finding progressive products to meet those needs.

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