Course : Principles of Marketing (MKT-101)
Department of Business Administration
East West University
|Name |ID |
|Md. Walid Bin Karim |2010-3-10-278 |
|Md. Fuad Rahman |2010-3-10-277 |
|Kamrun Nahar Kashem ...view middle of the document...
They were helpful that when we combined and discussed together, we had this task done.
Nokia is a mobile telecommunications company, and offers far more than just mobile phones for everyday use. They offer networking solutions for businesses that help businesses stay connected and communicate with each other at all times and places. For them, Nokia also offers special mobile phones with exquisite and unique functions and options. In this project, we will first talk about what Nokia is and what they do. We will talk about their history, and how they came to where they are today. Vision, goals, and their strategy are discussed, and last but not the least their marketing Strategy, market segmentation, targeting and positioning.
Nokia’s mission is simple, Connecting People.
Nokia has recently outlined its new strategic direction, including changes in leadership and operational structure to accelerate the company’s speed of execution in a dynamic competitive environment.
Major elements of the new strategy include:
• Plans for a broad strategic partnership with Microsoft to jointly build a new winning mobile ecosystem.
• A renewed approach to capture volume and value growth to connect ”the next billion” to the Internet in developing growth markets
• Focused investments in next-generation disruptive technologies
• A new leadership team and organizational structure with a clear focus on speed, results and accountability
Nokia’s strategy is about investing in and ensuring Nokia’s future. “I have incredible optimism because I can see fresh opportunity for us to innovate, to differentiate, to build great mobile products, like never before, and at a speed that will surpass what we have accomplished in the past,” Elop said. “We are going forward. We are not going backwards. We have a strategy. We have a path. We have a future. And we can deliver great mobile products. And despite all of these changes, we remain true to our mission, that of Connecting People.”
Keys to Success
Nokia is upping the ante in the growing battle over digital convergence. The Finnish mobile-phone giant has staked a claim in the nascent business of wireless music-on-the-go, announcing a little-noticed deal on Aug. 9 with Loudeye a Seattle-based startup, to collaborate on technology for downloading songs over the air to mobile phones. If the partnership works, mobile phones could become stronger competitors to portable music players such as the Apple iPod. Equally important, Nokia could help mobile operators develop a lucrative new revenue source from selling and distributing digital music.
Competition in the market
With all this technology available in the communications market it is
obvious that Nokia will have lots of competition, they include
1. Nokia 37.2% (34.7% 1Q02)
2. Motorola 17.3% (15.5%)
3. Samsung 9.8% (9.6%)
4. Siemens 8.5% (8.8%)