A Market Research on Nokia
Essay by shant007 • March 15, 2019 • Essay • 4,225 Words (17 Pages) • 972 Views
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A Market Research on Nokia
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Submitted To: Submitted By:
Dr. Jones Mathew Group 06
Aarif Ahmed (P182A63) Abhay Srivastava (P182A32)
Amit Jha (P182A13) Bhawna Ahuja (P182A64) Gowtham .V (P182A56) Shantanu Kushwaha (P182A74)
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Index[pic 7][pic 8][pic 9]
S.No. | Content | Page No. |
1 | Executive Summary | 3 |
2 | Situation Analysis | 3 |
3 | SWOT Analysis | 4 |
4 | PESTLE Analysis | 5 |
5 | Competition | 6 |
6 | Product Offerings | 6 |
7 | Distributions | 7 |
8 | Marketing Strategy | 7 |
9 | Target Market | 8 |
10 | Strategies | 8 |
11 | Market Research | 9 |
12 | Marketing Communications | 9 |
13 | Marketing Mix | 10 |
14 | Financials | 11 |
15 | Controls | 11 |
16 | Exhibits | 12 |
17 | References | 17 |
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Executive Summary
Nokia, once the market leader in mobile phone industry has been facing existential crisis from a large number of brands- both existing and new entrants. The developers and marketers of the product suffered from marketing myopia and product infatuation and failed to recognize the emerging technologies and trends of the time. Nokia kept focusing on the upstream process and completely forgot the downstream activities. Be it the migration from the Symbian platform ,or the adoption of new marketing gimmicks, Nokia somehow just missed the bus. After the change in management i.e HMD Global handling the brand operations; there have been significant efforts to revive the brand, but it has not been that effective. Recent data suggests that the new products have fared well but still face intense competition among the existing players. The main objectives of the Nokia to revive the company which includes increasing the brand visibility as the brand has suffered from lack of awareness among the consumers and also increase the volume of sales of both the smartphone and feature phones as there has been growing demand for Nokia phones. The market research has been conducted to assess the requirements and preferences of the consumers and survey corroborates with the objectives. The goal is to devise a strategy which could help Nokia to be recognized again as a brand which provides high value to consumers at the price point and compete with the existing players.
A Brief history[pic 14]
Nokia was founded in 1865 and entered the Indian market in 1994. The first ever GSM phone to be used in our country was a Nokia handset (Model: Nokia 2210) [1]. Nokia has established itself in the Indian market and improved its market share on the basis of its qualities like availability, durability and user friendliness. It was termed to be the No 1 mobile industry beating its nearest rival Samsung on the features like qualities and price range. Its tagline
“Connecting people” created a strong impression on Indian consumers. Nokia with its reliance on Symbian OS missed the trick and the Android phones established superiority in the market. Nokia’s association with Microsoft and resulting failure further eroded the brand value. The brand has been taken over by HMD global and it attempts to revive the brand. As that image still lives in every consumer mind, Nokia has the ability to push itself back into the cut throat competition of changing trends and technologies.
Situation Analysis:
The handset market is widespread. With the major players using Android OS, including Samsung, Huawei, Xiaomi, etc. The major challenge for Nokia was to keep pace with the changing technology. It was facing tough competition from the low cost Android phones which offered new and engaging features. The major transit was seen when it shifted from its Symbian base to Windows base in collaboration with Microsoft. The venture did seem profitable for the company in the initial years but later this turned to stagnancy and led to its virtual downfall yet again. After a long gap of 5 years. Nokia reinstated itself in the market along with its new licensee HMD Global. The company now
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manufactures Android phones and low cost feature phones but has lost its visibility and is struggling to re- establish itself in the Indian market.
SWOT Analysis
-Brand Name
-User friendliness
Strengths
Weaknesses
-Low market capture due to Windows platform (Lumia smartphones)
-Strong distribution network : Widespread
outreach
-Impressive customer relations
-Durable products
-Long lasting battery life
-Higher resale value compared to other handheld sets
-Accessories easily available in low price
-Products offered in all price category – budget, feature and Smartphones
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