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Nokia Strategy for Industry Leadership - Report Example

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The report "Nokia Strategy for Industry Leadership" analyzes the strategy of Nokia, a major industry leader in the wireless technology/telecommunications market, over the past 3 years. In addition, recommendations are made regarding changes that are required…
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Nokia Strategy for Industry Leadership
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Download file to see previous pages Due to changes in the external environment with wireless 3G and 4G capable smartphones, Nokia has also responded by focusing more on smartphones in terms of marketing, in response to customer demands. The demographic for smartphones has not changed significantly, and changes in technology that have led to more integrated cell-phone platforms (phones with internet access, phones with cameras, etc.) have been successfully marketed, and sales have increased for many, but not all, companies. The closeness of competition has meant a closer focus on the customer for Nokia, to good effect: “Sagem shows significant declines in user satisfaction across all features while Alcatel lost ground in user satisfaction ranking in the display, keypad, and UI areas. Nokia's best selling tool has been user satisfaction, but now Siemens and SonyEricsson are competing at the same level” (Strategy, 2008). Companies have to keep up with technological advances in offering the latest product and service features for smartphones.
As mentioned above, the wireless telecommunications industry, of which the smartphones in which Nokia specializes are a part, is very dynamic and competitive. Therefore, over the last three years, many strategic decisions at Nokia have been dictated by, a response to, or an attack towards, competitors. “The intensity of industry competition and an industry’s profit potential are a function of five forces of competition: the threats posed by new entrants, the power of suppliers, the power of buyers, product substitutes, and the intensity of rivalry among competitors” (Ireland et al., 2006). This is an industry that has very intense rivalry. Strategic and decision making models in the smartphone industry are complicated, and they are often formulated in relation to competitive forces. Nokia is one of the players near the top of the market, which is dominated by just a few makers of smartphones; the gulf between the top and bottom of this market is very wide, as this is an industry that requires substantial start-up and marketing costs. ...Download file to see next pagesRead More
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