rajini nokia 1 - INTRODUCTION Marketing is the general term...

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INTRODUCTION Marketing is the general term used to describe all the steps on the route that leads to final sales. This usually refers to the process of planning, pricing, promoting and distributing to satisfy both individual and organisational goals. However, referring to the above definition, we can say that marketing is more than only the selling process of goods and services and this is therefore an essential part of a business as without marketing, any best product or service can fail mostly in a highly competitive market. Following will be a critical evaluation of the marketing strategy of the Nokia mobile phone manufacturer using marketing concepts and theory and how these strategies help in achieving organisational goals. COMPANY BACKGROUND Nokia was founded in 1865 by Fredrick Idestam as a wood-pulp mill on the banks of the Nokia rapids. In the neighbourhood, Finnish Rubber Works established its factories in the 20 th century and it started using Nokia as its brand. Then shortly after World War 1, Finnish Rubber works acquire Nokia wood mills and the Finnish cable works a company producing telephones and telegraph cables and by 1967, all the three companies merged to form the Nokia Corporation. 1
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It was in 1992, when Jorna Ollila was appointed as the president and CEO of Nokia that a major strategic change took place and this is how telecommunications became Nokia’s core and this change is considered to be the most important strategic change to happen in Nokia’s history. From then, Nokia’s core business was the manufacturing of mobile phones and telecommunication systems and this strategic change has proved to be a great success in the long run as this has made the Nokia brand known onto the world stage and now Nokia is classed as the world’s largest mobile manufacturer with a global market share of almost 40%. MARKETING STRATEGY To be able to develop a marketing strategy, an organisation must first of all set up its marketing objectives and this should be designed in such a way that it can help in achieving the organisation’s overall objectives. Marketing strategies normally outlined how marketing objectives can exactly be achieved. To be able to set up a marketing strategy, the marketing team must conduct some marketing research based on market segment, their size and their needs and then to satisfy those needs, the team will make decisions within the controllable parameters of the marketing mix. Marketing mix is a concept used by marketing teams to make marketing decisions based on the following four P’s. Product Price Place Promotion MARKETING MIX TO EVALUATE NOKIA’S MARKETING STRATEGY. 2
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PRODUCT Nokia is now focusing on the manufacture of handsets only. Their objective is to provide customers with the best quality product at fairly low
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This note was uploaded on 04/05/2011 for the course FINANCE 103 taught by Professor Witekar during the Spring '11 term at Albany State University.

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rajini nokia 1 - INTRODUCTION Marketing is the general term...

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