Rebuilding Brand Equity of Nokia - Essay Example

Comments (0) Cite this document
Summary
Nokia, the consumer electronics company which once commanded the mobile communications race, has suffered a remarkable multi-faceted decline in the past two to three years…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.2% of users find it useful
Rebuilding Brand Equity of Nokia
Read TextPreview

Extract of sample
"Rebuilding Brand Equity of Nokia"

Download file to see previous pages 1). Nokia has been in the mobile market for around thirty years (Kolk & Rungi, 2013, p. 5). Nokia, a 147 years old Finnish company, became the pioneer of public mobile communications technology in the late 1990s when it pushed mobile phone usage onto the global scale (Lindholm & Keinonen, 2003). It was by far the largest mobile phone manufacturer in the early 2000s and produced most of the working class people’s very first mobile phones. In the underdeveloped world, as per D. Steinbock’s claim, the word ‘Nokia’ became synonymous with the word ‘mobile’ (Steinbock, 2001, p. 33). The company Nokia was one of the biggest beneficiaries of the so called ‘dotcom bubble’ (Panko 2008) but unlike the other manufacturing industries, mobile phone manufacturing has seen new market leaders emerge soon after the inception of the business. The apparent reason for this unseating of Nokia from the mobile manufacturing throne seems to be a progression of mobile handset technology – specifically from the standard or dumb phones era to the age of smart phones. Useless to say, the previous statement implies that Nokia has not been successful in commanding this shift. With the basic division of the handset technology between the old technology and the smart phone technology, Nokia has remained master of only the old technology. Smart phone sales surpassed the dumb phone sales in the second quarter of 2013, with smart phones accounting for fifty two percent of the mobile phone sales in that period (Shaer, 2013, p. 14). Decline Nokia occupied thirty five percent of the global mobiles business in 2003 (Bosch, 2005, p. 28); ten years later this figure had dropped to fourteen percent (Olson, 2013, p. 6). In October of last year, the company dropped out of the list of the five largest mobile phone vendors for the first time since the financial analyst IDC started maintaining the list (in 2004) (“Apple Cedes Market Share in Smartphone Operating System Market as Android Surges and Windows Phone Gains, According to IDC”, 2013). The Korean consumer electronics corporation Samsung now leads the mobile manufacturing business, while Nokia has already given way (in 2010) in the smart phone platform race as well to Google (which boasts the Android Operating System for smart phones). Resultantly, Nokia has shrunk as an organization overall; it has fewer resources at its disposal and has become less profitable than how much it used to be. The cash reserves of Nokia fell from €4.2 billion at the end of the second quarter of 2012 to €3.6 billion at the end of the very next quarter (Scott, 2013, p. 2). Ever since the company appointed a new, and the first non-Finnish, CEO (Stephen Elop) in 2010, the company has been practising salary base reduction as one of its primary tactics for dealing with the continuous financial loss. The company currently employs only 44,630 people out of the 66,995 working at Nokia at the start of the previous year (“Nokia Lumia 525: Windows Phone Handset Put Up For Sale At $100 Price Tag In China”, 2014, p. 4). Revival Efforts Susan Sheesha, the head of Global Communications at Nokia, has been promulgating Nokia’s repositioning of itself as a ‘challenger’ brand (Schechner, 2013). She says that after letting go of the ‘market leader’ narrative, the company’ ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Rebuilding Brand Equity of Nokia Essay Example | Topics and Well Written Essays - 1000 words”, n.d.)
Rebuilding Brand Equity of Nokia Essay Example | Topics and Well Written Essays - 1000 words. Retrieved from https://studentshare.org/management/1498519-brand-beats-by-dre-identify-a-fading-brand-
(Rebuilding Brand Equity of Nokia Essay Example | Topics and Well Written Essays - 1000 Words)
Rebuilding Brand Equity of Nokia Essay Example | Topics and Well Written Essays - 1000 Words. https://studentshare.org/management/1498519-brand-beats-by-dre-identify-a-fading-brand-.
“Rebuilding Brand Equity of Nokia Essay Example | Topics and Well Written Essays - 1000 Words”, n.d. https://studentshare.org/management/1498519-brand-beats-by-dre-identify-a-fading-brand-.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Role of brand elements in developing brand equity
...to distinguish itself from other products or services. Brands have different attributes which help them to cement their place in the minds of consumers. According to Kathiravana, et al., (2010) “Brand attributes consist of ‘bits’ of information that are linked to a brand name in consumer memory and that, when combined with the brand name, make up a brand’s image”( p.21) “Brand Equity is the value and strength of the Brand that decides its worth. It can also be defined as the differential impact of brand knowledge on consumer’s response to the Brand Marketing”...
12 Pages(3000 words)Essay
Brand Equity: Case Study
...Brand Equity: Case Study Brand equity is closely related to brand imagery, and brand s are often chosen to help elicit a desired product image. The case of the Crush brand suggests that the sources of brand equity are positive perception of the product as healthy, long selling history of the product and new image of the product. Research has shown that prunes carry the image of being dried out, worn out, wrinkled, ugly, old-aged things used only as laxatives, and are a plebeian symbol without prestige. Consumers also hold images of institutions. Images of retail-store characteristics or...
5 Pages(1250 words)Essay
Brand Equity
...Speaker's s for Brand Equity MARCOMS Marcoms is a communication agency involved in marketing and Public relations business. For this company, brand equity is crucial because it allows it to create a unique brand image and attract more potential customers. Each customer interprets value according to his or her own trade-offs of a product or service's tangible features (color, texture, speed, power, etc.), and intangible characteristics (brand/company image, comfort, prestige, safety, feelings, etc.). Since these are constantly moving targets, so is equity. Companies must address their "value package" or "value proposition"...
4 Pages(1000 words)Essay
Nokia
...brand name and the acceptance of Nokia products in over 150 countries. Nokia products are custom made for each country and region considering the economic and cultural situations. Moreover Nokia products are easy to use and a wide range of telecommunication products are available from Nokia to cater the needs of all the segments of people in the world. Being the number one mobile manufacturer in the world, the resale value of the Nokia products are best in the industry. The major weakness of Nokia is the price of their product. Compared to other mobile manufacturers, Nokia products are expensive....
2 Pages(500 words)Case Study
CHANEL - Brand Equity, Brand Positioning, Brand strategy
...Running Head: Brand Equity, Positioning, and Strategy of Chanel Brand Equity, Positioning, and Strategy of Chanel [Institute’s Brand Equity, Positioning, and Strategy of Chanel Introduction Without any doubts, everywhere we go, thousands and thousands of barnds from all possible directions surround us. In fact, every brand, even if it only seems to be a simple name or tagline, possess a history, a story, and a lifecycle. Even brand seems to have a lifecycle, very similar to product life cycle (PLC). Brands that were in the front line in the past and had ruled the scene once are there...
5 Pages(1250 words)Essay
Zara Brand Equity and Brand Positioning
...Brand equity is the intangible asset that the consumer associates with a product. We can determine it through financial impact of the product, brand extensions and consumer attitude. Zara garments were not designed and manufactured to be highly durable or classic clothes that would always be in style. They are described as ‘clothes to be worn ten times’ and yet they contributed more than 70% of the Inditex group sales. This is a vital statistic considering that Inditex group owns seven other fashion brands. With regards to brand extensions the Zara brand was successfully used to launch Zara Home in 2003. Zara Home was well received and has grown internationally to have a presence in 23 countries and 250 stores (Matassa, 2008... )....
6 Pages(1500 words)Essay
Brand Equity
...Brand Equity of the of the Brand Equity Q. Identify a specific brand that has developed a high level of brand equity. Inyour opinion, what particular aspects of that brand have helped establish its equity? Introduction Success in marketing today very much depends on an eclectic mix of new and repeat customers. In fact it is the repeat or returning customers that form the base of the business. However as they presumably cannot or do not return every day of the week, the gap will duly be filled by new customers entering the fold. Brand equity refers to the positive image and pleasant associations that a particular brand has in the mind of the consumer. Brand equity is a measure of brand loyalty, which in turn is caused by quality... and...
2 Pages(500 words)Essay
Jaguar brand equity charter
...Topic: JAGUAR BRAND EQUITY CHARTER Why is the companys view of the brand equity concept important? The view of Jaguar brand equity is so important to the company it communicate the value offered by the brand to its customers. Jaguar brand equity has brought numerous positive benefits to the company. Among those benefits include; reduction in operation cost such as promotion and advertisement cost. This is because it create brand positive image before the customers and hence, creating brand loyalty. For example, Jaguar provides high speed, powerful and...
1 Pages(250 words)Assignment
Brand equity for Sandro
...Brand equity for Sandro The brand is identified as a Parisian brand known for its reflection of French simplicity. In terms of market segment, the brand usually targets customers within ages 25-40 comprising of professionals considered to have hectic lifestyle. In general, the brand targets modern customers who are up to date with fashion. To ensure unique selling proposition (USP), Sandros specializes in making the brand more versatile by marketing the product across all the ages thereby leading to positive customer-base brand equity. The versatility ensures large client base for the...
2 Pages(500 words)Speech or Presentation
Pricing and Brand Equity
...Pricing and Brand Equity Pricing and Brand Equity Many corporate enterprises in the world are adopting branding and marketing strategies that can enable them gain a competitive edge in a hypermarket business environment. Corporations are highly implementing innovative branding and marketing strategies to attain and keep economic, social and political advantage over their competitors. Companies continually advance and reform their brands to gain not only competitive edge, but also brand equity. Inventioncredit gives brands the license and latitude to utilize strategies...
1 Pages(250 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Essay on topic Rebuilding Brand Equity of Nokia for FREE!
Contact Us