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Effective Marketing Strategy for Nokia Company

Introduction

Marketing strategies, concepts and theories determine the choice of the target markets and the overall positioning of a company (Miles, 2003, p.15). This means that the marketing strategies adopted have to be in line with the company’s objectives and goals.

Nokia is one of the leading producers and suppliers of mobile phones, fixed telecommunications devices and other communication solutions. The firm was established in 1865 as a paper mill firm. However, the firm entered into a merger contract with other companies within the technology industry. The core objective was to produce electronic products (Nokia, 2009, p.2).

In 1967, the firm underwent a major revolution upon merging with a number of firms to form Nokia Corporation. The result is that the firm was able to position itself as one of the firms which pioneered the production of mobile communication devices positioned. During the period ranging from 1967 to the early 1990s, the firm was a vibrant player in the industry within that it produced a number of iconic communication products.

Description

Nokia has ventured into the production of telecommunication devices as one of the best strategic decisions (Nokia, 2009, p.3). As a result, the firm had to position itself in the market more strategically. Its effective market positioning has enabled the firm to be at the forefront of the global telecommunications industry. Implementation of effective marketing strategies is one of the factors that contributed to the firm’s performance in an era that was characterized by intense competition

In addition, the firm’s competitive advantage results from increased investment in research and development. As a result, the firm has been able to conduct continuous product innovation thus improving its competitive advantage. The firm’s commitment towards research and development has enabled the firm to effectively utilize resources in a bid to exploit opportunities from the market. In addition, the firm is also committed to attaining a high level of customer satisfaction in its operation.

Nokia’s management team realizes the fact that having an effective marketing strategy is one of the concepts that can result in the firm attaining a high competitive advantage. Some of the strategies that the firm considers relate to promotion, product development, distribution and pricing. The firm’s marketing concept incorporates all the 4ps of marketing as an integral part of the overall company strategy (Salter& Michael, 2008, p.18). Considering the fact that customers constitute the key source of the company’s revenue, they ultimately have an impact on the projected revenues and performance.

Integration of personal computers, the internet and mobile phones is one of the driving forces that have contributed towards an improvement in Nokia’s competitive advantage (Nokia, 2010, p.3). The firm is conversant with the trend where consumers are incorporating technology in their consumption patterns.

Market awareness has also contributed towards an improvement in the firm’s performance. This has been attained through the creation of good publicity through the integration of marketing communication. The firm’s effectiveness and efficiency in communication have been attained through the incorporation of integrated marketing communication. In the long run, the company has been able to develop its goodwill as it continues to provide iconic products to consumers (Haig, 2002, p.14). The company has positioned itself as a leading provider of mobile solutions. This is evident from the fact that the firm has a wide portfolio of outstanding communication devices (Nokia, 2010, p.5).

Consumer understanding of the company’s products has been given greatly emphasized by the company through the incorporation of corporate social responsibility. In addition, the differentiation of products and solutions has enabled customers to identify the company’s products with a more open and positive reception.

Nokia provides highly contextual and personalized solutions thereby enabling customers to communicate effectively (Nokia, 2009, p.15). The firm has integrated the concept of customer focus in its manufacturing process. As a result, the firm is able to identify the consumers’ product requirements. Innovative mobile devices and solutions have enabled the company to create a new and exciting value for the customers (Miles, 2003, p.19). In addition, the company is consumer-driven whereby it has responded to the divergent consumer needs. As a result, the firm has enabled customers to attain their utility maximization objective. This has contributed towards improvement in customer relationships between the firm and its customers (Salter & Michael, 2008, p.21).

Recommendations

The market will need some strategic positioning to succeed and that is why proper marketing strategies and positioning have enabled Nokia Incorporation to achieve its marketing objectives. A justification is from the way the company has always come up with new devices and solutions. The firm has successfully engaged both its customers and competitors within the marketing arena in an effort to achieve its goals. All the firm’s marketing approaches are in line with the company’s position as a global leader in mobile devices and solutions.

From the mobile market (solutions and devices), it can be concluded that the industry ecosystem is expanding. This is why the company has also partnered with other mobile devices and solutions companies such as Samsung to develop communication products.

This emphasizes the need to create value with mobile solutions. Globalization has resulted in customers becoming more enlightened. This implies that Nokia and other companies will have to empower the customers with new products through enhanced marketing.

The nature of consumer relationships with companies has been consistently changing over recent years. This is why the company has come up with a strategic plan. There is a need to redesign the marketing strategies and approaches with a long-term goal of attaining sustainability.

Summary

Technology is a driving force behind the success of many companies. As a result, the global trends will favor firms that position themselves strategically. Nokia has positioned itself effectively with regard to technology enabling it to cope with the current technological revolutions.

Sustainable products and services development has enabled the firm to attain a global presence. In addition, the company’s distribution capability has been enhanced to ensure that the products and solutions are easily accessible in the global market (Haig, 2001, p.5). This has given it a leading market position in most emerging and established markets.

The company believes in coming up with irresistible solutions through vibrant ecosystems with the customers. Marketing thrives on an intensified pulse on the existing consumer needs (Nokia, 2010, p.6). To get a good marketing mix the company continues to co-create values with operators, partners and developers by building a friendly market environment.

To intensify its market presence Nokia’s management team is committed to be transformed into a fully-fledged solutions-driven company. In the long run, it has been able to optimize different user experiences.

Reference List

  1. Haig, M. 2002. Mobile marketing: the message revolution. London: Kogan. Miles, R. 2003. Organizational Strategy, Structure, and Process. Stanford: Stanford University Press.
  2. Nokia.2009. Nokia’s vision of the future. [Online]. Web.
  3. Nokia. 2010. Story of Nokia. [Online]. Web.
  4. Salter, B. & Michael, A. 2008. Mobile Marketing: Achieving Competitive advantage through Wireless Technology. UK: Butterworths Heinemann.